The auction results for the re-opened FXD1/2016/10Yr and the new 5Yr bond, FXD1/2023/5Yr have been attached for your perusal. Below is a quick summary of these results:
FXD1/2016/10Yr: average of 16.328% on the back of KES 15.740Bn in bids accepted from a total of KES 22.663Bn in bids received
FXD1/2023/5Yr: average of 16.844% on the back of KES 22.832Bn in bids accepted from a total of KES 29.099Bn in bids received
Subscription: Bids received totaled KES 51.763Bn representing an oversubscription. The CBK accepted KES 38.573Bn, a bit short of their KES 40Bn target.
Away from the primary auction, the CBK has announced that the next Monetary Policy Committee Meeting (MPC) will be held on Wednesday, August 9 2023.
To wrap it up for today, below is a snapshot of what is at play within the secondary market for your consideration. Happy hunting!
Below are the two-way quotes for the benchmark tenors:
Indicative Two-Way Quotes - Benchmark Tenors
Benchmark Tenor
Bid (%)
Offer (%)
Mov (t-t0)%
1Yr
12.50
12.00
0.00
2Yr
16.00
15.00
0.00
5yr
16.90
16.40
1.15
10yr
16.00
14.50
0.25
15yr
16.00
15.00
0.00
20yr
16.00
15.00
0.00
25yr
16.00
15.00
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
12.60
12.00
0.00
IFB1/2016/9 (IFB10)
May-25
13.20
12.60
0.00
IFB1/2015/12 (IFB8)
Mar-27
13.30
13.00
0.00
IFB1/2017/12 (IFB12)
Feb-29
13.80
13.00
0.00
IFB1/2016/15 (IFB11)
Oct-31
14.00
13.00
0.00
IFB1/2018/15 (IFB14)
Jan-33
14.50
14.10
0.00
IFB1/2018/20 (IFB15)
Oct-38
15.50
14.00
0.00
IFB1/2019/25 (IFB16)
Feb-44
16.50
15.00
0.00
IFB1/2019/16 (IFB17)
Oct-35
14.50
13.80
0.00
IFB1/2020/9 (IFB18)
Apr-29
13.75
13.50
0.00
IFB1/2020/6 (IFB19)
May-26
13.00
12.00
0.00
IFB1/2020/11 (IFB20)
Aug-31
14.50
14.10
0.00
IFB1/2021/16 (IFB21)
Jan-37
15.50
14.50
0.00
IFB1/2021/18 (IFB22)
Mar-39
15.70
14.50
0.00
IFB1/2021/21 (IFB23)
Aug-42
16.50
15.00
0.00
IFB1/2022/19 (IFB24)
Jan-41
15.50
14.50
0.00
IFB1/2022/18 (IFB25)
May-40
15.50
15.35
0.43
IFB1/2022/14 (IFB26)
Oct-36
15.50
14.50
0.00
IFB1/2022/6 (IFB27)
Nov-28
13.30
13.20
0.00
IFB1/2023/17 (IFB28)
Feb-40
15.50
14.50
0.00
IFB1/2023/7 (IFB29)
Jun-30
15.45
15.25
0.00
Key Interest Rates
Mov (bps)
O/N Interbank
8.6228%
-20.50
91 Day T-bill
12.014%
11.00
182 Day T-bill
12.199%
25.20
364 Day T-bill
12.250%
9.30
Central Bank Rate (CBR)
10.50%
100.00
Inflation
7.90%
-10.00
Attached are the bond positions available today and the bond auction for July 2023.
