Secondary Market: Trading in the secondary market was robust during Wednesday’s trading session as bond turnover extended to KES 2.98 billion on the back of a total of 38 bond deals transacted during the day. Investors actively traded bonds on the short end tenor – with the 1 year bond remaining the most popular pick of the week.
Money Market: The money market remained relatively liquid, reflected by the interbank rate which was recorded at 5.08% yesterday. The Kenyan shilling performed slightly better than the previous trading session, having lost on all but two of its seven international currency comparables.
The local currency dropped 0.05%- for a second consecutive day- against the US Dollar to close at 102.20; as the latter was propped by US FOMC members speaking in regards to the economy and the fed rate hike.
Upcoming Auctions
- 2nd December 2015 – KES 6.0Bn 182 & KES 6.0BN 364-day T-bills
- 3rd December 2015 – KES 4 Bn 91 day T-bills