Kenya Bond Market Update: 9 November 2023

Published on
November 8, 2023
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Auction & Results

 
The auction for the IFB1/2023/6.5Yr will be held today after the sale period closed this morning at 10.00 AM. The auction results will be published later on today and I will share them once in receipt.  As we wait, below is a snapshot of what is at play within the secondary market for your consideration. Happy hunting and best wishes for the auction!
 
Below are the two-way quotes for the benchmark tenors:
 
Indicative Two-Way Quotes - Benchmark Tenors
Benchmark Tenor Bid (%) Offer (%) Mov (t-t0)%
1Yr 15.40 15.10 0.00
2Yr 17.60 17.40 0.00
5yr 18.00 17.70 -0.05
10yr 17.00 16.50 0.00
15yr 16.50 16.00 0.00
20yr 16.50 16.00 0.00
25yr 16.50 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 13.00 0.00
IFB1/2016/9 (IFB10) May-25 13.50 13.00 0.00
IFB1/2015/12 (IFB8) Mar-27 13.75 13.25 0.00
IFB1/2017/12 (IFB12) Feb-29 16.50 16.00 -0.25
IFB1/2016/15 (IFB11) Oct-31 16.50 16.00 -0.25
IFB1/2018/15 (IFB14) Jan-33 15.10 14.90 0.00
IFB1/2018/20 (IFB15) Oct-38 16.00 15.50 0.00
IFB1/2019/25 (IFB16) Feb-44 16.50 15.75 0.00
IFB1/2019/16 (IFB17) Oct-35 15.50 15.00 0.00
IFB1/2020/9 (IFB18) Apr-29 15.00 14.50 0.00
IFB1/2020/6 (IFB19) May-26 13.50 12.75 0.00
IFB1/2020/11 (IFB20) Aug-31 16.50 16.00 0.00
IFB1/2021/16 (IFB21) Jan-37 16.00 15.50 0.00
IFB1/2021/18 (IFB22) Mar-39 16.50 16.00 0.00
IFB1/2021/21 (IFB23) Aug-42 16.70 16.00 0.15
IFB1/2022/19 (IFB24) Jan-41 16.50 16.00 0.00
IFB1/2022/18 (IFB25) May-40 16.50 15.50 0.00
IFB1/2022/14 (IFB26) Oct-36 16.60 16.00 0.00
IFB1/2022/6 (IFB27) Nov-28 14.65 14.35 0.00
IFB1/2023/17 (IFB28) Feb-40 16.00 15.50 0.00
IFB1/2023/7 (IFB29) Jun-30 16.20 15.90 0.00
 
Key  Interest Rates   Mov (bps)
O/N Interbank 11.7532% -23.70
91 Day T-bill 15.1863% 7.51
182 Day T-bill 15.2714% 14.25
364 Day T-bill 15.4391% 5.24
Central Bank Rate (CBR) 10.50% 0.00
Inflation 6.90% 10.00
 
Attached are the bond positions available today.
 
Bond Positions
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