Kenya Bond Market Update: 14 February 2024

Published on

February 14, 2024

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Waiting and Loving

The results of the incoming infrastructure bond, the IFB1/2024/8.5Yr, will be published later today. I will share these eagerly awaited results once in receipt. As we wait, we have the rest of the curve to trade and to assist with 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!

Oh yes, it’s the day of love as well. Happy loving!

Below are the two-way quotes for the benchmark tenors:

Indicative Two-Way Quotes - Benchmark Tenors
Benchmark Tenor	Bid (%)	Offer (%)	Mov (t-t0)%
1Yr	17.00	16.70	0.00
2Yr	18.35	18.00	0.00
5yr	18.90	18.40	0.00
10yr	17.00	16.50	0.00
15yr	16.50	16.00	0.00
20yr	16.50	16.00	0.00
25yr	16.30	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	16.00	15.50	0.00
IFB1/2016/9 (IFB10)	May-25	17.00	16.75	0.00
IFB1/2015/12 (IFB8)	Mar-27	15.50	15.00	0.00
IFB1/2017/12 (IFB12)	Feb-29	16.00	15.00	0.00
IFB1/2016/15 (IFB11)	Oct-31	16.00	15.50	0.00
IFB1/2018/15 (IFB14)	Jan-33	15.50	15.00	0.00
IFB1/2018/20 (IFB15)	Oct-38	16.50	16.00	0.00
IFB1/2019/25 (IFB16)	Feb-44	16.50	16.00	0.00
IFB1/2019/16 (IFB17)	Oct-35	15.50	15.20	0.00
IFB1/2020/9 (IFB18)	Apr-29	15.00	14.50	0.00
IFB1/2020/6 (IFB19)	May-26	14.50	13.75	0.00
IFB1/2020/11 (IFB20)	Aug-31	17.50	16.75	0.00
IFB1/2021/16 (IFB21)	Jan-37	17.00	16.00	0.00
IFB1/2021/18 (IFB22)	Mar-39	17.00	16.00	0.00
IFB1/2021/21 (IFB23)	Aug-42	17.00	16.00	0.00
IFB1/2022/19 (IFB24)	Jan-41	17.00	16.50	0.00
IFB1/2022/18 (IFB25)	May-40	17.00	16.50	0.00
IFB1/2022/14 (IFB26)	Oct-36	17.00	16.50	0.00
IFB1/2022/6 (IFB27)	Nov-28	17.00	16.00	0.00
IFB1/2023/17 (IFB28)	Feb-40	17.00	16.25	0.00
IFB1/2023/7 (IFB29)	Jun-30	17.00	16.39	0.00
IFB1/2023/6.5 (IFB30)	May-30	17.40	17.15	0.02

Key Interest Rates		Mov (bps)
O/N Interbank	13.3473%	11.96
91 Day T-bill	16.5038%	12.91
182 Day T-bill	16.6331%	12.73
364 Day T-bill	16.8574%	17.73
Central Bank Rate (CBR)	13.00%	50.00
Inflation	6.90%	30.00

Attached are the bond positions available today.

Bond Positions Available Today

                                Trade Now
                            

MATHANGANI KARIUKI

Director | Bespoke Securities

Director, Interest Rates | AKN Investments
http://www.akn.co.ke

+254 (0) 732472655

mathanganik@bespokesecurities.co.ke
mathangani@akn.co.ke

Eikon Messenger: mathanganik@bespokesecurities.co.ke

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Kenya Bond Market Update: 14 February 2024

Waiting and Loving

MATHANGANI KARIUKI

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