Kenya Bond Market Update: 18 April 2024

Published on
April 18, 2024
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Below 17%

 
The results of the re-opened FXD1/2023/2Yr (1.4 years) bond are with us and a quick summary of how things went can be found below:
  • Average: 16.9922% on the back of KES 34.762Bn in bids accepted
  • Subscription: An oversubscription as KES 47.192Bn in bids was received by the CBK.
  • Attached are the results in full for all details pertaining to this auction.
Away from the primary auction, 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 16.50 0.00
2Yr 17.50 17.00 0.00
5yr 17.80 17.30 -0.15
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 15.75 15.50 0.00
IFB1/2016/9 (IFB10) May-25 15.85 15.75 0.00
IFB1/2015/12 (IFB8) Mar-27 14.50 14.00 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 17.50 17.20 0.00
IFB1/2020/6 (IFB19) May-26 17.50 17.10 0.00
IFB1/2020/11 (IFB20) Aug-31 17.50 17.20 0.00
IFB1/2021/16 (IFB21) Jan-37 16.50 16.00 0.00
IFB1/2021/18 (IFB22) Mar-39 17.00 16.50 0.00
IFB1/2021/21 (IFB23) Aug-42 17.00 16.50 0.00
IFB1/2022/19 (IFB24) Jan-41 17.00 16.50 0.00
IFB1/2022/18 (IFB25) May-40 17.00 16.50 0.00
IFB1/2022/14 (IFB26) Oct-36 17.00 16.50 0.00
IFB1/2022/6 (IFB27) Nov-28 17.50 17.20 0.00
IFB1/2023/17 (IFB28) Feb-40 16.50 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 16.60 0.05
IFB1/2024/8.5 (IFB31) Aug-32 16.70 16.60 0.02
 
 
Key  Interest Rates   Mov (bps)
O/N Interbank 13.7540% 2.72
91 Day T-bill 15.7330% -99.13
182 Day T-bill 16.8684% -0.54
364 Day T-bill 16.5310% -45.88
Central Bank Rate (CBR) 13.00% 0.00
Inflation 5.70% -60.00
Attached are the bond positions available today and the auction results for the re-opened FXD1/2023/2Yr (1.4 years).
Bond Positions
Auction Results
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