Secondary Market: Trading in the secondary market regained momentum with bond turnover clocking KES 2.24 billion with a total of 85 bond deals transacted. Traders, particularly commercial banks were more flexible after the government disbursed payments at the start of the week. Investors showed preference for short and intermediate term bonds.
Money Market: The money market was liquid during Wednesday’s trading session indicated by the interbank rate which slipped to 10.54%. The regulator took on a proactive measure to mop-up excess liquidity by offering TADs and REPOs worth KES 21 billion.
Following the upward 150 bps of the Central Bank Rate, the Kenyan shilling gained by 0.89% against the USD to register at 97.00; with the allure of shilling backed assets offsetting pressure on the pair.