This week has seen sentiments change in the bond market as interest in Kenya’s Government debt instruments has shot up. From the current rates on offer, to Kenya’s successful albeit pricey solution to this year’s Eurobond payment, offshore investors have made a comeback in a strong way. In the T-bill space, maturities continue to be the biggest determinant of the interest shown. This week however, we have seen a bit of interest begin to shift to the longer dated T-bills as the notion that rates may be peaking begins to influence investment decisions. My expectation is that the appetite for longer duration in the T-bill space will start to reflect in the auction results going forward. Attached are the results for this week’s T-bill auction for your perusal.

For you to navigate the rest of the curve before we get to weekending, below is a snapshot of what is at play within the secondary market for your consideration. Happy hunting!

Attached are the bond positions available today and this week’s T-bill auction results.