364-Day T-Bill Heavily Oversubscribed for Second Week
Investors are flocking to the 364-day T-bill to lock in yields near the CBR, driving heavy oversubscription for two straight weeks...
✨ Key Highlights
The 364-day Treasury Bill has been heavily oversubscribed for a second consecutive week in Kenya, signaling strong investor demand. This trend follows the re-opening of the 30-year infrastructure bond in early September.
- In the latest auction, KSh 20.23 billion was received in bids for the 364-day T-Bill, with the Central Bank of Kenya (CBK) accepting KSh 11.06 billion at a yield of 9.5483%.
- The CBK is the key organization involved, managing the auctions and setting policies like the Central Bank Rate (CBR).
- Investor interest is attributed to a declining rate environment, with yields on the 364-day T-Bill now approaching parity with the CBK's CBR, which was recently cut to 9.50%.
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Part of the Day's Coverage
Kenyan Economic Reports Reveal Mixed Performance and Widespread Hardship - September 2025
A recent TIFA survey reveals widespread economic hardship in Kenya, with most families experiencing falling incomes and surviving on KSh 20,000 or less. The construction sector has seen a sharp slowdown, with the value of building approvals in Nairobi plummeting by over 50% in June 2025 compared to a year earlier due to elevated material costs. In corporate results, Rubis Kenya's first-half sales for 2025 dropped by 7% to KSh 69.1 billion, though the company freed up liquidity by redeeming KSh 5.3 billion in fuel subsidy papers. In contrast, there was strong investor demand for government securities, as the 364-day Treasury Bill was heavily oversubscribed for a second consecutive week.
