Bond Turnover Rises by 125 Percent to KES 1.25 billion

Secondary Market: Activity levels in the secondary market accelerated as the week began to take shape. Bond turnover rose by 125% to KES 1.25 billion – on the back of 14 bond transactions. A liquid money market provided support.

Money Market: The monetary regulator stayed out of money market during yesterday’s trading session. The interbank rate rose marginally as liquidity redistributed in the money market. Meanwhile, the Kenyan shilling rallied against the US Dollar by 0.02% to 102.33, despite the dollar reaching 2-week highs against its own basket of currencies; due to the much anticipated Fed rate hike.

Commenting on the decision, Fed Chair Janet Yellen stated that further rate hikes would be gradual and data dependent.

Upcoming Auctions

• 16th December 2015 – KES 6.0Bn 182 & KES 6.0BN 364-day T-bills

• 17th December 2015 – KES 4 Bn 91 day T-bills