Kenya Bond Market Update: 22 April 2024

Published on
April 22, 2024
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EARTH DAY

 
‘Birth’-day celebrations for Mama Earth! Earth Day is an annual event on April 22nd to demonstrate support for environmental protection. To set you up for the week ahead, attached is the CBK weekly report to assist in your reading of the market while updated benchmark Yield Curve levels are ready for your perusal on the attached pricelist. I have also attached the NSE Implied Yields for the NSE’s valuations of all the treasuries. To bring it all together, 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 0.00
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 15.75 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 16.90 16.80 0.20
IFB1/2024/8.5 (IFB31) Aug-32 16.90 16.80 0.20
 
 
Key Interest Rates   Mov (bps)
O/N Interbank 13.7330% 0.76
91 Day T-bill 15.8029% 6.99
182 Day T-bill 16.4667% -40.17
364 Day T-bill 16.5077% -2.33
Central Bank Rate (CBR) 13.00% 0.00
Inflation 5.70% -60.00
Attached are the bond positions available today, NSE Implied Yields and the CBK Weekly Report from last week.
 
Bond Positions
NSE Implied Yields
CBK Weekly Report
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