Secondary Market: Bond turnover In the secondary market held steady before the long weekend at KES 1.27 Billion with a total of 30 bond deals transacted. We expect secondary trading to remain below during the week as tight liquidity in the money market may present some restrains.
Money Market: Liquidity in the money market remained tight as CBK remained under pressure to control the exchange rate volatility. The interbank rate remained high at 10.28% on Thursday. The Kenyan Shilling (KES) shed 0.12% against the US Dollar (USD) to 94.68 amid another round of mop ups through the issue of Repurchase Agreements and Term Auction Deposits amounting to KES 8 Bn.