Kenya Bond Market Update: 13 September 2023

Published on
September 13, 2023
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The results of this month’s bond auction will be with us later on today. I will share these results once they are published. Away from this, below is a snapshot of what is at play within the secondary market for your consideration. Happy hunting and good luck with the auction!
 
Below are the two-way quotes for the benchmark tenors:
 
Indicative Two-Way Quotes - Benchmark Tenors
Benchmark Tenor Bid (%) Offer (%) Mov (t-t0)%
1Yr 15.00 14.50 0.00
2Yr 16.80 16.50 0.00
5yr 17.80 17.50 0.00
10yr 17.00 16.50 0.00
15yr 17.00 16.00 0.00
20yr 17.00 16.00 0.00
25yr 17.00 16.00 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 13.50 12.75 0.00
IFB1/2016/9 (IFB10) May-25 13.50 13.00 0.00
IFB1/2015/12 (IFB8) Mar-27 14.00 13.00 0.00
IFB1/2017/12 (IFB12) Feb-29 15.00 14.00 0.00
IFB1/2016/15 (IFB11) Oct-31 15.00 14.00 0.00
IFB1/2018/15 (IFB14) Jan-33 15.00 14.50 0.00
IFB1/2018/20 (IFB15) Oct-38 16.00 15.00 0.00
IFB1/2019/25 (IFB16) Feb-44 16.50 15.00 0.00
IFB1/2019/16 (IFB17) Oct-35 16.00 15.00 0.00
IFB1/2020/9 (IFB18) Apr-29 14.50 14.00 0.00
IFB1/2020/6 (IFB19) May-26 13.00 12.00 0.00
IFB1/2020/11 (IFB20) Aug-31 15.75 15.00 0.00
IFB1/2021/16 (IFB21) Jan-37 15.75 15.00 0.00
IFB1/2021/18 (IFB22) Mar-39 15.70 15.00 0.00
IFB1/2021/21 (IFB23) Aug-42 16.50 15.30 0.00
IFB1/2022/19 (IFB24) Jan-41 15.50 15.00 0.00
IFB1/2022/18 (IFB25) May-40 15.70 15.50 0.00
IFB1/2022/14 (IFB26) Oct-36 16.00 15.50 0.00
IFB1/2022/6 (IFB27) Nov-28 13.30 13.20 0.00
IFB1/2023/17 (IFB28) Feb-40 16.00 15.60 0.20
IFB1/2023/7 (IFB29) Jun-30 15.85 15.50 -0.10
 
Key  Interest Rates   Mov (bps)
O/N Interbank 12.2986% -14.15
91 Day T-bill 14.2337% 24.86
182 Day T-bill 14.3686% 42.98
364 Day T-bill 14.8603% 109.53
Central Bank Rate (CBR) 10.50% 0.00
Inflation 6.70% -60.00
 
Attached are the bond positions available today.
 
Bond Positions
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