Secondary Market: Trading in the secondary market contracted further as we arrive at the end of the week.
Bond turnover levels dipped to KES 1.24 billion from KES 2.09 billion posted the previous day. Investors are expected to retain a cautious stance as they await the MPC rate decision on 9th June 2015.
Money Market: Liquidity in the money market remained under a tight clasp, signalled by the interbank rate which stood at 13.30%, however, volumes traded remained relatively modest. The Kenyan Shilling (KES) traded steady during Thursday’s session; the USDKES exchange rate advanced marginally by 0.07% as dollar demand from corporates ebbed.