The CBK has released the prospectus of a new infrastructure bond, IFB1/2023/7Yr, that will be auctioned in June. The CBK will be seeking KES 60Bn and attached is the prospectus for all details pertaining to this auction. The Monetary Policy Committee (MPC) of the Central Bank met yesterday and decided to retain the Central Bank Rate (CBR) at 9.50%. This decision was reached as the MPC noted the impact of the further tightening of monetary policy undertaken in March 2023 to anchor inflationary expectations was still transmitting in the economy. Attached is the statement from the MPC for further details to how this decision was reached.For your trading activities today, 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
11.75
11.25
0.00
2Yr
13.75
13.20
0.00
5yr
14.20
14.00
0.00
10yr
14.30
14.10
0.00
15yr
14.60
14.30
0.00
20yr
14.75
14.40
0.00
25yr
14.75
14.40
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
13.20
12.70
0.00
IFB1/2016/9 (IFB10)
May-25
13.20
12.60
-0.20
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
14.30
14.10
0.00
IFB1/2018/20 (IFB15)
Oct-38
14.40
14.00
0.00
IFB1/2019/25 (IFB16)
Feb-44
14.50
14.00
0.00
IFB1/2019/16 (IFB17)
Oct-35
14.20
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
14.20
14.00
0.00
IFB1/2021/16 (IFB21)
Jan-37
14.50
14.00
0.00
IFB1/2021/18 (IFB22)
Mar-39
14.50
14.00
0.00
IFB1/2021/21 (IFB23)
Aug-42
15.00
14.50
0.00
IFB1/2022/19 (IFB24)
Jan-41
14.30
14.00
0.00
IFB1/2022/18 (IFB25)
May-40
14.30
14.00
0.00
IFB1/2022/14 (IFB26)
Oct-36
14.30
14.00
0.00
IFB1/2022/6 (IFB27)
Nov-28
13.30
13.20
0.00
IFB1/2023/17 (IFB28)
Feb-40
14.55
14.40
0.08
Key Interest Rates
Mov (bps)
O/N Interbank
9.2763%
2.93
91 Day T-bill
10.832%
31.40
182 Day T-bill
11.113%
13.50
364 Day T-bill
11.457%
6.70
Central Bank Rate (CBR)
9.50%
0.00
Inflation
7.90%
-129.00
Attached are the bond positions available today, the MPC Press Release Statement and the IFB1/2023/7Yr bond prospectus.
