Kenya Bond Market Update: 24 August 2023

Published on
August 24, 2023
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Moon Landing Thursday

 
Less than a week after Russia’s Luna-25 mission failed, India successfully landed its own spacecraft on the unexplored south pole of the moon. There has been a race to explore and study this part of the moon due to signs of the presence of frozen water, potentially one of the moon’s most valuable resources. Away from all this space talk, today is the final day to submit your bids for the FXD1/2023/2Yr & FXD1/2023/5Yr Tap-Sale. Bids must be submitted at the CBK by 2.00PM EAT. Attached is the prospectus for any additional information that may be required. For your trading activities for the day ahead, below is a snapshot of what is at play within the secondary market for your consideration. Happy Hunting and Tapping!
 
Below are the two-way quotes for the benchmark tenors:
 
Indicative Two-Way Quotes - Benchmark Tenors
Benchmark Tenor Bid (%) Offer (%) Mov (t-t0)%
1Yr 13.75 13.25 0.00
2Yr 17.20 16.50 0.00
5yr 18.00 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 15.00 14.75 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 0.25
IFB1/2022/6 (IFB27) Nov-28 13.30 13.20 0.00
IFB1/2023/17 (IFB28) Feb-40 15.70 15.00 0.00
IFB1/2023/7 (IFB29) Jun-30 15.95 15.50 0.00
 
Key  Interest Rates   Mov (bps)
O/N Interbank 11.8367% 11.62
91 Day T-bill 13.4754% 36.50
182 Day T-bill 13.2758% -16.23
364 Day T-bill 13.7459% 40.57
Central Bank Rate (CBR) 10.50% 0.00
Inflation 7.30% -70.00
 
Attached are the bond positions available today and the Tap Sale prospectus for the FXD1/2023/2Yr & FXD1/2023/5Yr.
 
Bond Positions
FXD1/2023/2Yr & FXD1/2023/5Yr
Trade Now
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