To start off, my apologies with the inconsistency in my updates this week. The IT spirits have been hard at work testing my patience, but we will surely overcome!
The FXD1/2024/3Yr results are out and below is a quick summary of how things went:
Average: 18.4222% on the back of KES 34.271Bn in bids being accepted.
Performance: Target set was KES 40Bn, with KES 43.074Bn in bids received. This resulted in a performance rate of 107.7%.
Attached are the results in full for your perusal.
As we absorb and accept these results, 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
17.20
16.80
0.00
2Yr
18.40
18.00
0.00
5yr
18.60
18.20
0.00
10yr
17.00
16.50
0.00
15yr
16.50
16.00
0.00
20yr
16.50
16.00
0.00
25yr
16.30
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
17.20
16.90
0.00
IFB1/2016/9 (IFB10)
May-25
15.85
15.75
0.00
IFB1/2015/12 (IFB8)
Mar-27
17.30
17.00
0.00
IFB1/2017/12 (IFB12)
Feb-29
17.00
16.00
0.00
IFB1/2016/15 (IFB11)
Oct-31
17.00
16.50
0.00
IFB1/2018/15 (IFB14)
Jan-33
17.65
17.35
0.00
IFB1/2018/20 (IFB15)
Oct-38
17.50
17.00
0.00
IFB1/2019/25 (IFB16)
Feb-44
18.00
17.50
0.00
IFB1/2019/16 (IFB17)
Oct-35
17.65
17.35
0.00
IFB1/2020/9 (IFB18)
Apr-29
14.75
14.50
0.00
IFB1/2020/6 (IFB19)
May-26
13.50
12.75
0.00
IFB1/2020/11 (IFB20)
Aug-31
17.40
17.10
0.00
IFB1/2021/16 (IFB21)
Jan-37
17.50
17.00
0.00
IFB1/2021/18 (IFB22)
Mar-39
17.65
17.35
0.00
IFB1/2021/21 (IFB23)
Aug-42
17.80
17.50
0.00
IFB1/2022/19 (IFB24)
Jan-41
17.65
17.35
0.00
IFB1/2022/18 (IFB25)
May-40
17.65
17.35
0.00
IFB1/2022/14 (IFB26)
Oct-36
17.65
17.35
0.00
IFB1/2022/6 (IFB27)
Nov-28
17.60
17.40
0.00
IFB1/2023/17 (IFB28)
Feb-40
17.65
17.35
0.00
IFB1/2023/7 (IFB29)
Jun-30
17.40
17.10
0.00
IFB1/2023/6.5 (IFB30)
May-30
17.20
16.80
0.00
IFB1/2024/8.5 (IFB31)
Aug-32
17.40
17.20
-0.23
Key Interest Rates
Mov (bps)
O/N Interbank
13.7320%
-3.42
91 Day T-bill
16.6218%
3.23
182 Day T-bill
16.7849%
5.05
364 Day T-bill
16.9722%
5.28
Central Bank Rate (CBR)
13.00%
50.00
Inflation
6.30%
-60.00
Attached are the bond positions available today, the FXD1/2024/3Yr (re-opened) auction results and the March bond auction prospectus.
