Kenya Bond Market Update: 08 November 2024

Published on
November 8, 2024
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Making it Rain
 

Another big show of interest from the market in the T-bill space. A total of KES 98.372Bn in bids were submitted with the Central Bank accepting KES 53.743Bn. With the significant rejections the Central Bank is able to effect, the rates across the T-bills continue to drop and attached are the results in full for your perusal. For your other trading activities for the day, 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 14.70 14.40 -0.15
2Yr 15.00 17.70 -0.15
5yr 15.50 15.20 -0.15
10yr 16.40 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 14.50 14.00 0.00
IFB1/2016/9 (IFB10) May-25 14.50 14.00 0.00
IFB1/2015/12 (IFB8) Mar-27 14.70 14.30 0.00
IFB1/2017/12 (IFB12) Feb-29 14.90 14.50 0.00
IFB1/2016/15 (IFB11) Oct-31 14.90 14.60 0.00
IFB1/2018/15 (IFB14) Jan-33 15.00 14.70 0.00
IFB1/2018/20 (IFB15) Oct-38 15.20 14.90 0.00
IFB1/2019/25 (IFB16) Feb-44 15.50 15.00 0.00
IFB1/2019/16 (IFB17) Oct-35 15.30 14.75 0.00
IFB1/2020/9 (IFB18) Apr-29 15.00 14.70 0.00
IFB1/2020/6 (IFB19) May-26 15.00 14.50 0.00
IFB1/2020/11 (IFB20) Aug-31 15.00 14.70 0.00
IFB1/2021/16 (IFB21) Jan-37 15.20 14.80 0.00
IFB1/2021/18 (IFB22) Mar-39 15.30 14.80 0.00
IFB1/2021/21 (IFB23) Aug-42 15.50 15.00 0.00
IFB1/2022/19 (IFB24) Jan-41 15.50 15.00 0.00
IFB1/2022/18 (IFB25) May-40 15.30 14.80 0.00
IFB1/2022/14 (IFB26) Oct-36 15.30 14.80 0.00
IFB1/2022/6 (IFB27) Nov-28 14.70 14.30 0.00
IFB1/2023/17 (IFB28) Feb-40 15.00 14.70 0.10
IFB1/2023/7 (IFB29) Jun-30 14.90 14.50 0.00
IFB1/2023/6.5 (IFB30) May-30 14.80 14.50 0.00
IFB1/2024/8.5 (IFB31) Aug-32 14.90 14.75 0.00
 
Key  Interest Rates   Mov (bps)
O/N Interbank 12.0859% 0.81
91 Day T-bill 13.4496% -51.60
182 Day T-bill 13.8400% -68.33
364 Day T-bill 14.4476% -52.08
Central Bank Rate (CBR) 12.00% -75.00
Inflation 2.70% -90.00
Below are links to the bond positions available today, the results of this week’s T-bill auction and the November 2024 bond auction prospectus.
Bond Positions
T-bill Auction
November 2024 Bond Auction Prospectus
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