Kenya Bond Market Update: 22 March 2024

Published on
March 22, 2024
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Friday Funday 

 
The T-bill results from this week continue to reflect the CBK’s intolerance to bids at the 17% mark or higher as the rates remain in the higher 16s again. Attached are the results in full for your perusal.For your other trading activities for the day, 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 17.20 16.80 0.00
2Yr 18.40 18.00 0.00
5yr 18.60 18.20 0.00
10yr 16.50 16.00 0.00
15yr 16.50 16.00 0.00
20yr 16.50 16.00 0.00
25yr 16.50 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 15.75 15.50 0.00
IFB1/2016/9 (IFB10) May-25 15.85 15.75 0.00
IFB1/2015/12 (IFB8) Mar-27 14.50 14.00 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 14.75 14.50 0.00
IFB1/2020/6 (IFB19) May-26 13.50 12.75 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 16.50 16.00 0.00
IFB1/2023/7 (IFB29) Jun-30 16.50 16.00 0.00
IFB1/2023/6.5 (IFB30) May-30 16.90 16.70 0.00
IFB1/2024/8.5 (IFB31) Aug-32 16.90 16.70 -0.05
 
 
Key Interest Rates   Mov (bps)
O/N Interbank 13.5250% 3.70
91 Day T-bill 16.7306% 3.30
182 Day T-bill 16.9137% 2.37
364 Day T-bill 16.9890% 0.01
Central Bank Rate (CBR) 13.00% 50.00
Inflation 6.60% -30.00
Attached are the bond positions available today and the T-bill auction results for this week. 
Bond Positions
T-bill Auction Results
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