Thursday Thirst
Next month the CBK is looking to absorb KES 70Bn from the domestic market via the April Bond auction. Like they did in January 2022, the bonds being auctioned will be sold separately in two auctions within the month. Below is a quick summary of how the auction will be structured:
- FXD1/2022/3Yr (3 years): sale period ends on 05-Apr-2022, with the value date set as 11-Apr-2022. The target set for this sale is KES 40Bn
- FXD1/2022/15Yr (15 years): sale period ends on 19-Apr-2022, with the value date set as 25-Apr-2022. The target set for this sale is KES 30Bn
- Total target for the month: KES 70Bn
Attached is the prospectus with all the required details for your perusal. As always, below is a snapshot of what is at play within the secondary market for your consideration. Happy hunting!
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| Indicative Two-Way Quotes - Benchmark Tenors |
| Benchmark Tenor |
Bid (%) |
Offer (%) |
Mov (t-t0)% |
| 1Yr |
9.90 |
9.70 |
0.00 |
| 2Yr |
10.55 |
10.20 |
0.00 |
| 5Yr |
12.00 |
11.70 |
0.00 |
| 10Yr |
12.90 |
12.60 |
0.00 |
| 15Yr |
13.80 |
13.50 |
0.00 |
| 20Yr |
13.80 |
13.70 |
0.00 |
| 25Yr |
14.00 |
13.75 |
0.00 |
|
|
| Indicative Two-Way Quotes - IFB Series |
| IFB series |
Maturity |
Bid (%) |
Offer (%) |
Mov (t-t0)% |
IFB1/2017/7
(IFB13) |
Nov-24 |
10.35 |
9.90 |
0.00 |
IFB1/2016/9
(IFB10) |
May-25 |
10.35 |
9.90 |
0.00 |
IFB1/2015/12
(IFB8) |
Mar-27 |
10.50 |
10.00 |
0.00 |
IFB1/2017/12
(IFB12) |
Feb-29 |
11.00 |
10.60 |
0.00 |
IFB1/2016/15
(IFB11) |
Oct-31 |
12.50 |
11.50 |
0.00 |
IFB1/2018/15
(IFB14) |
Jan-33 |
12.40 |
12.00 |
0.00 |
IFB1/2018/20
(IFB15) |
Oct-38 |
12.90 |
12.50 |
0.00 |
IFB1/2019/25
(IFB16) |
Feb-44 |
13.00 |
12.50 |
0.00 |
IFB1/2019/16
(IFB17) |
Oct-35 |
12.90 |
12.50 |
0.00 |
IFB1/2020/9
(IFB18) |
Apr-29 |
11.30 |
11.00 |
0.00 |
IFB1/2020/6
(IFB19) |
May-26 |
11.30 |
10.75 |
0.00 |
IFB1/2020/11
(IFB20) |
Aug-31 |
12.45 |
12.10 |
0.00 |
IFB1/2021/16
(IFB21) |
Jan-37 |
12.90 |
12.70 |
0.00 |
IFB1/2021/18
(IFB22) |
Mar-39 |
12.90 |
12.70 |
0.00 |
IFB1/2021/21
(IFB23) |
Aug-42 |
12.90 |
12.70 |
0.00 |
IFB1/2022/19
(IFB24) |
Jan-41 |
13.075 |
12.975 |
0.03
|
|
|
| Key Interest Rates |
|
Mov (bps) |
| O/N Interbank |
4.2594% |
4.00 |
| 91 Day T-bill |
7.252% |
4.60 |
| 182 Day T-bill |
8.093% |
6.10 |
| 364 Day T-bill |
9.763% |
-0.80 |
| Inflation |
5.08% |
-31.00 |
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