Secondary Market Turnover Hit 147 Billion Shilling in the First Quarter

Secondary market turnover hit 147.27 billion shillings in the first quarter period with a total of 3,193 transactions.

Taxed government bonds accounted for 62.07 percent of the total turnover while tax-free infrastructure bond papers accounted for 37.64 percent of the activity.

Corporate bonds remained subdued with turnover totaling 434.41 million shillings or a 0.29 percent of total turnover in the year.

The top five traded bonds were dominated by infrastructure bonds and shorter duration papers.

The infrastructure bond floated in January, IFB1/2018/15Yr, accounted for the lion’s share of secondary market turnover at 20.61 percent.

At end of the first quarter, banking institutions held 55.30 percent of total domestic debt while contractual savings institutions (pensions and insurance firms) held 33.50 percent of domestic debt stock.

In the review period, Treasury Bonds and Treasury Bills (excl. repos) constituted 64.40 percent and 32.60 percent of domestic debt holding.