Kenya Bond Market Update: 4 September 2023

Published on
September 4, 2023
*|MC:SUBJECT|*
View this email in your browser

Re-openings Galore

 
For September, the CBK goody bag will be bringing us two re-opened bonds for our bidding pleasure. The FXD1/2023/2Yr (1.9 years left) and the FXD1/2016/10Yr (2.9 years left) will be on auction as the CBK looks to secure KES 35Bn. The prospectus with all the required details has been attached for your perusal. For your trading activities for the week ahead, attached is the CBK weekly report to assist in your reading of the market while updated benchmark Yield Curve levels are ready for your perusal on the attached pricelist. I have also attached the NSE Implied Yields for the NSE’s valuations of all the treasuries. To bring it all together, 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 14.25 13.75 0.00
2Yr 16.80 16.50 0.00
5yr 17.80 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 15.75 15.00 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 0.00
IFB1/2022/6 (IFB27) Nov-28 13.30 13.20 0.00
IFB1/2023/17 (IFB28) Feb-40 16.00 15.00 0.00
IFB1/2023/7 (IFB29) Jun-30 15.90 15.65 0.00
 
Key  Interest Rates   Mov (bps)
O/N Interbank 12.4910% 9.26
91 Day T-bill 13.9851% 25.19
182 Day T-bill 13.9388% 44.77
364 Day T-bill 13.7650% -24.90
Central Bank Rate (CBR) 10.50% 0.00
Inflation 6.70% -60.00
 
Attached are the bond positions available today, the NSE Implied Yields, the CBK Weekly Report and the Bond Auction Prospectus for September 2023.
 
Bond Positions
NSE Implied Yields
CBK Weekly Report
Bond Auction Prospectus
Trade Now
View Previous Market Updates
Share Share
Tweet Tweet
Share Share
Copyright © 2022 Bespoke Securities Limited, All Rights Reserved.






This email was sent to *|EMAIL|*
why did I get this?    unsubscribe from this list    update subscription preferences
*|LIST:ADDRESSLINE|*

*|REWARDS|*