Kenya Bond Market Update: 27 June 2024

Published on
June 27, 2024
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Goodies Thursday

 

The Central Bank has published the auction details for the next month, as they make their first play for the new financial year public. The following bonds will be on offer for your consideration:

  •  Tap Sale: FXD1/2023/2Yr in a bid to secure KES 20Bn.
  • July Bond Auction: FXD1/2008/20Yr (3.9 years) & FXD1/2024/10Yr (9.7 years). The CBK will be looking to secure KES 30Bn from this auction.

Attached is the prospectus for each.
For your trading activities ahead, below is a snapshot of what is at play within the secondary market for your consideration. Happy hunting and please stay safe out there!
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 16.85 0.00
2Yr 17.50 17.00 0.00
5yr 18.00 17.50 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 15.25 15.00 0.00
IFB1/2016/9 (IFB10) May-25 15.25 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 16.00 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 16.50 16.00 0.00
IFB1/2020/6 (IFB19) May-26 16.50 16.00 0.00
IFB1/2020/11 (IFB20) Aug-31 17.05 16.00 0.00
IFB1/2021/16 (IFB21) Jan-37 15.80 15.50 0.00
IFB1/2021/18 (IFB22) Mar-39 16.50 16.00 0.00
IFB1/2021/21 (IFB23) Aug-42 16.50 16.00 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 17.30 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 16.40 0.00
IFB1/2024/8.5 (IFB31) Aug-32 17.00 16.75 0.00
 
 
Key  Interest Rates   Mov (bps)
O/N Interbank 13.2437% 1.01
91 Day T-bill 15.9716% -0.03
182 Day T-bill 16.7379% 3.82
364 Day T-bill 16.7545% 0.07
Central Bank Rate (CBR) 13.00% 0.00
Inflation 5.10% 10.00
Attached are the bond positions available today, FXD1/2023/2Yr Tap Sale Prospectus and  FXD1/2008/20Yr & FXD1/2024/10Yr Bond Auction Prospectus.
Bond Positions
FXD1/2023/2Yr Tap Sale Prospectus
FXD1/2008/20Yr & FXD1/2024/10Yr Bond Auction Prospectus
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