WEEKLY FIXED INCOME REPORT - WEEK 13
Weekly Wrap:
Secondary market turnover rebounded in the week, edging up 33.52% to settle at KES 9.46Bn. The top five bonds accounted for 55.20% of the total turnover with the IFB1/2018/15Yr paper continuing its dominance. CBK announced a TAP Sale on the March primary bonds issue seeking KES 8.5Bn to plug the deficit from the initial auction. CBK received and accepted bids worth KES 15.51Bn; an indicator of investor preference to the two benchmark bonds.
USDKES:
The shilling clawed back gains in the week to close at 101.07 against the US dollar boosted by increased foreign inflows. CCBK foreign exchange reserves increased by USD 55Mn in the week to record high level of USD 8.85Bn, equivalent to 5.91 months of import cover.
Money Market:
The average interbank rate increased 76bps to 5.86% in the week. This was attributed to payment of government securities totaling KES 54.48Bn in the course of the week. Overall weekly volumes edged up by KES 9.29Bn to KES 77.51Bn.
This Week’s Outlook:
This week, we are likely to see depressed secondary market turnover in the bourse. This will be weighed down as a number of market participants’ map out their 2Q17 strategies. Stanbic Bank Kenya PMI for the month of March will be released on Thursday.
Genghis Capital is an innovative and customer focused Investment Bank licensed by the Capital Markets Authority (CMA). Founded in 2008, Genghis is one of the leading investment banks in Kenya. Since its establishment, Genghis has achieved tremendous growth to offer a well-diversified portfolio of financial services that includes:
- i. Securities(Equity/Debt) Trading
- ii. Research
- iii. Wealth Management services
- iv. Investment Advisory & Management via the GenCap Unit Trusts
- v. Corporate Finance & Transaction Advisory services
The Kenyan Capital Markets continue to develop in size, scope and sophistication. With this is an increasing demand for more specialized and personalized brokerage service and we at Genghis Capital are glad to be able to offer you this service. Our strength lies in ensuring our clients are up to speed with developments at the stock market and the economy. Research and technology remains our competitive and comparative advantage hence Experience, Expertise and Professionalism are some of the qualities you can expect from our team.
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