Kenya Bond Market Update: 14 July 2023

Published on
July 14, 2023
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Friday Feels

 
The interest in T-bills was really good again this week, in line with another good substantial of maturities due. This strengthens the notion that there is a positive correlation between the maturities in play and the interest shown at the T-bill auctions. Attached are the results in full for your perusal. For your trading activities ahead, 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 12.65 12.25 0.20
2Yr 16.00 15.00 0.00
5yr 16.80 16.40 -0.05
10yr 16.00 15.00 0.00
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 15.70 15.50 0.17
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 15.35 15.20 -0.08
 
Key  Interest Rates   Mov (bps)
O/N Interbank 8.5722% -5.06
91 Day T-bill 12.109% 9.50
182 Day T-bill 12.271% 7.20
364 Day T-bill 12.452% 20.20
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.
Bond Positions
Bond Auction for July 2023
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