Kenya Bond Market Update: 27 November 2023

Published on
November 27, 2023
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December in (T+4)


For your trading activities for the day and 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 16.25 15.75 0.00
2Yr 17.80 17.60 0.00
5yr 18.00 17.60 0.00
10yr 17.00 16.50 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 15.50 15.00 0.00
IFB1/2015/12 (IFB8) Mar-27 13.80 13.70 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 15.50 15.00 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 14.75 14.50 0.00
IFB1/2020/6 (IFB19) May-26 13.50 12.75 0.00
IFB1/2020/11 (IFB20) Aug-31 15.50 15.00 0.00
IFB1/2021/16 (IFB21) Jan-37 16.00 15.50 0.00
IFB1/2021/18 (IFB22) Mar-39 16.00 15.50 0.00
IFB1/2021/21 (IFB23) Aug-42 16.50 16.00 0.00
IFB1/2022/19 (IFB24) Jan-41 16.50 15.50 0.00
IFB1/2022/18 (IFB25) May-40 16.50 15.50 0.00
IFB1/2022/14 (IFB26) Oct-36 16.50 15.50 0.00
IFB1/2022/6 (IFB27) Nov-28 13.70 13.30 0.00
IFB1/2023/17 (IFB28) Feb-40 16.50 15.50 0.00
IFB1/2023/7 (IFB29) Jun-30 16.20 15.90 0.00
IFB1/2023/6.5 (IFB30) May-30 17.90 17.80 0.00
 
Key  Interest Rates   Mov (bps)
O/N Interbank 11.2562% 8.47
91 Day T-bill 15.4426% 7.94
182 Day T-bill 15.4445% 1.64
364 Day T-bill 15.5828% -5.57
Central Bank Rate (CBR) 10.50% 0.00
Inflation 6.90% 10.00
 
Attached are the bond positions available today, the NSE Implied Yields, the CBK Weekly Report and the IFB1/2023/6.5Yr Tap Sale Prospectus.
 
Bond Positions
NSE Implied Yields
CBK Weekly Report
IFB1/2023/6.5Yr Tap Sale Prospectus
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