These weekends tend to be spectacular but please behave yourself so that we can get back on Monday ready for a new week and month. To close of the month, the Central Bank enjoyed a very successful Tap Sale of the IFB1/2023/17Yr. The CBK received a total of KES 35.185Bn in bids. This far surpassed their KES 15Bn target. This week’s T-bill auction saw bids match the CBK’s target as a total of KES 24.201Bn in bids was received. The CBK however only accepted KES 23.644Bn of these bids as they continued their push to lower their borrowing costs by making sure the yields in the T-bill space drop. Kindly note, today IS the start of the weekend. Disturb those bank accounts and enjoy yourself. Before that though, 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
16.80
0.00
2Yr
18.00
17.50
0.00
5yr
18.50
18.00
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
15.50
15.00
0.00
IFB1/2016/9 (IFB10)
May-25
16.00
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
16.50
16.00
0.00
IFB1/2018/15 (IFB14)
Jan-33
16.50
16.00
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
16.50
16.20
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
17.00
16.00
0.00
IFB1/2021/16 (IFB21)
Jan-37
16.50
16.00
0.00
IFB1/2021/18 (IFB22)
Mar-39
16.50
16.30
0.00
IFB1/2021/21 (IFB23)
Aug-42
16.70
16.50
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
17.75
17.50
0.00
IFB1/2023/7 (IFB29)
Jun-30
16.90
16.20
0.00
IFB1/2023/6.5 (IFB30)
May-30
17.65
17.55
0.05
IFB1/2024/8.5 (IFB31)
Aug-32
17.65
17.55
0.07
Key Interest Rates
Mov (bps)
O/N Interbank
12.8015%
-15.78
91 Day T-bill
15.7844%
-0.96
182 Day T-bill
16.6327%
-3.59
364 Day T-bill
16.8421%
-1.71
Central Bank Rate (CBR)
12.75%
-25.00
Inflation
4.30%
-20.00
Attached are the bond positions available today, the IFB1/2023/17Yr Tap Sale results and this week’s T-bill auction results.
