Hope for Investors as Secondary Turnover Jumps to KES 4.02Bn from 1.32Bn

Secondary market turnover jumped from 1.32 billion shillings to 4.02 billion shillings during the session on Thursday.

Trading activity was mainly driven by short-end papers which accounted for 46.71 percent of the total turnover.

The market is currently skewed towards shorter duration bonds. Market sentiment is that the Consultative Forum of Domestic Debt will opt to re-open:

1. The IFB/2018/20yr paper whose yield has since been traded down since its primary issue and has notable demand.
2. Shorter-term paper. The week’s T-Bill recorded an overall 107.00 percent performance rate driven by the uptake in the 364-day tenor. Yields edged up 0.6bps and on the 91-day while trended lower by 6.6bps and 1.0bps on the 182-day and 364-day tenors, respectively. Interbank rates declined 10.93bps to average 6.3383 percent on Thursday.