Kenya Bond Market Update: 16 August 2024

Published on
August 16, 2024
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Time to Friday

 

This week’s T-bill auction continued with the downward movement of rates across all three T-bills as well as subscription levels surpassing the CBK’s KES 24Bn target. Attached are the results in full for your perusal. Away from the T-bill space, we have some trading to do. To help you out with this, 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 17.50 17.00 0.00
2Yr 18.00 17.70 0.00
5yr 18.50 18.00 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 15.50 15.00 0.00
IFB1/2016/9 (IFB10) May-25 16.00 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 16.50 16.00 0.00
IFB1/2018/15 (IFB14) Jan-33 16.50 16.00 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 16.50 16.20 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 17.00 16.00 0.00
IFB1/2021/16 (IFB21) Jan-37 16.50 16.00 0.00
IFB1/2021/18 (IFB22) Mar-39 16.50 16.30 0.00
IFB1/2021/21 (IFB23) Aug-42 16.70 16.50 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 17.65 17.35 0.00
IFB1/2023/7 (IFB29) Jun-30 16.90 16.20 0.00
IFB1/2023/6.5 (IFB30) May-30 18.00 17.90 0.00
IFB1/2024/8.5 (IFB31) Aug-32 18.30 18.00 0.00
 
Key  Interest Rates   Mov (bps)
O/N Interbank 12.8437% 0.65
91 Day T-bill 15.8094% -0.83
182 Day T-bill 16.7078% -0.69
364 Day T-bill 16.8664% -4.77
Central Bank Rate (CBR) 12.75% -25.00
Inflation 4.30% -20.00
Attached are the bond positions available today and this week’s T-bill auction results.
Bond Positions
T-bill auction results.
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