Kenya Bond Market Update: 13-Jul-2023

Results Loaded – The auction results for the re-opened FXD1/2016/10Yr and the new 5Yr bond, FXD1/2023/5Yr have been attached for your perusal. Below is a quick summary of these results:

• FXD1/2016/10Yr: average of 16.328% on the back of KES 15.740Bn in bids accepted from a total of KES 22.663Bn in bids received
• FXD1/2023/5Yr: average of 16.844% on the back of KES 22.832Bn in bids accepted from a total of KES 29.099Bn in bids received
• Subscription: Bids received totaled KES 51.763Bn representing an oversubscription. The CBK accepted KES 38.573Bn, a bit short of their KES 40Bn target.

Away from the primary auction, the CBK has announced that the next Monetary Policy Committee Meeting (MPC) will be held on Wednesday, August 9 2023.

To wrap it up for 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, two-way quotes for the infrastructure bonds and the key rates:

Attached are the bond positions available today and the bond auction for July 2023.

1. Bond Positions
2. Bond Auction for July 2023