Kenya Bond Market Update: 13 January 2023

Published on
January 13, 2023
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Friday, the 13th


A good outing for the CBK as they managed to surpass their KES 24Bn target at the T-bill auction after locking in KES 26.114Bn from a total of KES 26.131Bn in bids received. Continuing with the recent trend, the 91D T-bill took the lion’s share of the bids submitted. Attached are the results in full for your perusal.
Away from the T-bill auction, below is a snapshot of what is at play within the secondary market for your consideration. Happy hunting and happy weekending ahead!

 
Below are the two-way quotes for the benchmark tenors:
 
Indicative Two-Way Quotes - Benchmark Tenors
Benchmark Tenor Bid (%) Offer (%) Mov (t-t0)%
1Yr 10.50 10.00 0.00
2Yr 12.80 12.50 0.00
5yr 13.70 13.50 0.00
10yr 13.95 13.80 0.00
15yr 14.20 14.00 0.00
20yr 14.10 13.90 0.00
25yr 14.35 14.20 0.00
 
 
 
Below are details of the two-way quotes for the infrastructure bonds and the key rates:
 
Indicative Two-Way Quotes - IFB Series
IFB series Maturity Bid (%) Offer (%) Mov (t-t0)%
IFB1/2017/7 (IFB13) Nov-24 12.00 11.45 0.00
IFB1/2016/9 (IFB10) May-25 12.00 11.45 0.00
IFB1/2015/12 (IFB8) Mar-27 12.20 12.00 0.00
IFB1/2017/12 (IFB12) Feb-29 12.00 11.00 0.00
IFB1/2016/15 (IFB11) Oct-31 13.20 12.70 0.00
IFB1/2018/15 (IFB14) Jan-33 13.60 13.20 0.00
IFB1/2018/20 (IFB15) Oct-38 13.80 13.50 0.00
IFB1/2019/25 (IFB16) Feb-44 14.00 12.90 0.00
IFB1/2019/16 (IFB17) Oct-35 13.70 13.50 0.00
IFB1/2020/9 (IFB18) Apr-29 13.20 12.70 0.00
IFB1/2020/6 (IFB19) May-26 12.30 12.00 0.00
IFB1/2020/11 (IFB20) Aug-31 13.20 12.80 0.00
IFB1/2021/16 (IFB21) Jan-37 13.75 13.25 0.00
IFB1/2021/18 (IFB22) Mar-39 13.85 13.50 0.00
IFB1/2021/21 (IFB23) Aug-42 14.00 13.50 0.00
IFB1/2022/19 (IFB24) Jan-41 13.90 13.50 0.00
IFB1/2022/18 (IFB25) May-40 13.70 13.30 0.00
IFB1/2022/14 (IFB26) Oct-36 13.85 13.725 -0.01
IFB1/2022/6 (IFB27) Nov-28 13.30 13.20 0.00
 
Key  Interest Rates   Mov (bps)
O/N Interbank 5.2682% -0.83
91 Day T-bill 9.425% 3.30
182 Day T-bill 9.859% 1.20
364 Day T-bill 10.432% 6.30
Inflation 9.06% -42.00
 
 
Attached are the bond positions available today and the T-bill auction results.
Bond Positions Available Today
January 2023 Bond Auction Results.
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