Kenya Bond Market Update: 01 July 2024

Published on
July 1, 2024
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God Bless Kenya

 

Maintaining the title of the note as the push for change continues in Kenya!
To set you up 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 17.00 16.85 0.00
2Yr 17.50 17.00 0.00
5yr 18.00 17.50 0.00
10yr 16.50 16.00 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 15.25 15.00 0.00
IFB1/2016/9 (IFB10) May-25 15.25 15.00 0.00
IFB1/2015/12 (IFB8) Mar-27 15.50 15.00 0.00
IFB1/2017/12 (IFB12) Feb-29 16.00 15.00 0.00
IFB1/2016/15 (IFB11) Oct-31 16.00 15.50 0.00
IFB1/2018/15 (IFB14) Jan-33 15.50 15.00 0.00
IFB1/2018/20 (IFB15) Oct-38 16.50 16.00 0.00
IFB1/2019/25 (IFB16) Feb-44 16.50 16.00 0.00
IFB1/2019/16 (IFB17) Oct-35 15.50 15.20 0.00
IFB1/2020/9 (IFB18) Apr-29 16.50 16.00 0.00
IFB1/2020/6 (IFB19) May-26 16.50 16.00 0.00
IFB1/2020/11 (IFB20) Aug-31 17.05 16.00 0.00
IFB1/2021/16 (IFB21) Jan-37 15.80 15.50 0.00
IFB1/2021/18 (IFB22) Mar-39 16.50 16.00 0.00
IFB1/2021/21 (IFB23) Aug-42 16.50 16.00 0.00
IFB1/2022/19 (IFB24) Jan-41 17.30 16.00 0.00
IFB1/2022/18 (IFB25) May-40 16.60 16.00 0.00
IFB1/2022/14 (IFB26) Oct-36 16.60 16.00 0.00
IFB1/2022/6 (IFB27) Nov-28 16.50 16.00 0.00
IFB1/2023/17 (IFB28) Feb-40 17.30 16.00 0.00
IFB1/2023/7 (IFB29) Jun-30 16.90 16.20 0.00
IFB1/2023/6.5 (IFB30) May-30 16.70 16.40 0.00
IFB1/2024/8.5 (IFB31) Aug-32 17.30 17.20 0.15
 
 
Key  Interest Rates   Mov (bps)
O/N Interbank 13.3025% 0.73
91 Day T-bill 15.9771% 0.54
182 Day T-bill 16.7636% 2.57
364 Day T-bill 16.7911% 3.66
Central Bank Rate (CBR) 13.00% 0.00
Inflation 4.60% -50.00
Attached are the bond positions available today, NSE implied yields for last Week,CBK weekly report,Inflation data for 2024, FXD1/2023/2Yr Tap Sale Prospectus and  FXD1/2008/20Yr & FXD1/2024/10Yr Bond Auction Prospectus.
Bond Positions
NSE Implied Yields for Last Week
CBK Weekly Report
Inflation Data 2024
FXD1/2023/2Yr Tap Sale Prospectus
FXD1/2008/20Yr & FXD1/2024/10Yr Bond Auction Prospectus
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