Kenya Bond Market Update: 27 January 2023

Published on
January 27, 2023
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FriYay

 
Another successful T-bill auction for the CBK as they managed to surpass their KES 24Bn target again. The CBK managed to lock in KES 32.094Bn from a total of KES 34.298Bn in bids received. Bids once again were heavily skewed towards the shorter T-bills and attached are the results in full for your perusal. Below is a snapshot of what is at play within the secondary market for your consideration. Happy hunting and enjoy the weekend ahead!
 
Below are the two-way quotes for the benchmark tenors:
 
Indicative Two-Way Quotes - Benchmark Tenors
Benchmark Tenor Bid (%) Offer (%) Mov (t-t0)%
1Yr 10.50 10.00 0.00
2Yr 12.80 12.50 0.00
5yr 13.70 13.50 0.00
10yr 13.95 13.80 0.00
15yr 14.20 14.00 0.00
20yr 14.10 13.90 0.00
25yr 14.35 14.20 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 12.50 12.00 0.00
IFB1/2016/9 (IFB10) May-25 12.50 12.00 0.00
IFB1/2015/12 (IFB8) Mar-27 12.50 12.00 0.00
IFB1/2017/12 (IFB12) Feb-29 12.80 12.00 0.00
IFB1/2016/15 (IFB11) Oct-31 13.20 12.70 0.00
IFB1/2018/15 (IFB14) Jan-33 13.60 13.20 0.00
IFB1/2018/20 (IFB15) Oct-38 13.80 13.50 0.00
IFB1/2019/25 (IFB16) Feb-44 14.00 12.90 0.00
IFB1/2019/16 (IFB17) Oct-35 13.70 13.50 0.00
IFB1/2020/9 (IFB18) Apr-29 13.20 12.70 0.00
IFB1/2020/6 (IFB19) May-26 12.30 12.00 0.00
IFB1/2020/11 (IFB20) Aug-31 13.50 12.85 0.00
IFB1/2021/16 (IFB21) Jan-37 13.75 13.25 0.00
IFB1/2021/18 (IFB22) Mar-39 13.85 13.50 0.00
IFB1/2021/21 (IFB23) Aug-42 14.00 13.50 0.00
IFB1/2022/19 (IFB24) Jan-41 13.90 13.50 0.00
IFB1/2022/18 (IFB25) May-40 13.90 13.70 0.00
IFB1/2022/14 (IFB26) Oct-36 13.75 13.65 0.00
IFB1/2022/6 (IFB27) Nov-28 13.25 13.15 0.00
 
 
Key  Interest Rates   Mov (bps)
O/N Interbank 6.3575% 16.09
91 Day T-bill 9.538% 6.40
182 Day T-bill 9.954% 6.30
364 Day T-bill 10.504% 3.40
Inflation 9.06% -42.00
 
 
Attached are the bond positions available today, the T-bill auction results for this week and the February 2023 Bond Prospectus.
Bond Positions Available Today
T-bill Auction Results
February 2023 Bond
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