Bond market activity soars 57% amid equity slowdown

Key Takeaways

• Kenya's bond market turnover significantly increased by 57.21%, with strong investor demand for Treasury bills and a decline in interest rates across all tenors.
• The Nairobi Securities Exchange (NSE) experienced a mixed performance with an overall slowdown in equity activity, marked by a decrease in market capitalization and turnover, despite some indices showing gains.
• The Kenya shilling remained stable against major international currencies at Ksh 129.02 per US dollar, while foreign exchange reserves rose to USD 12,659 million, exceeding import cover requirements.
• The domestic money market maintained high liquidity, supported by active open market operations and commercial banks' excess reserves averaging Ksh 44.3 billion.