The National Treasury missed its target sale of the 10-year bond by Sh7.22 billion following the holidays. Central Bank data shows the Treasury bond reopened on December 27 and received Sh6.62 billion bids against the advertised Sh13.84 billion. This forced the Treasury to accept the bids for the bond that was previously issued on December 13. This also represented a 77.06 per cent and 74.68 per cent decline in bids received and accepted respectively compared to the previous offer. Similarly, secondary bond market activity reduced with the volume of bonds traded reducing by 26 per cent during the week ending December 27 compared to the week ending December 20.

Source: The Star December 31, 2018 09:11 UTC