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The East African : Jan 5th 2015
46 BONDS WEEKLY STATISTICS 2-JANUARY-2015 GOVERNMENT OF KENYA FIXED RATE TREASURY BONDS Issue No. TWO YEAR BONDS FXD 1/2013/2Yr FXD 2/2013/2Yr FXD 3/2013/2Yr FXD 4/2013/2Yr FXD 1/2014/2Yr FXD 2/2014/2Yr FXD 3/2014/2Yr FIVE YEAR BONDS FXD 1/2010/5Yr FXD 2/2010/5Yr FXD 1/2011/5Yr FXD 1/2012/5Yr FXD 1/2013/5Yr FXD 2/2013/5Yr FXD 3/2013/5Yr FXD 1/2014/ 5Yr FXD 2/2014/ 5Yr EIGHT YEAR BONDS FXD1/2007/8Yr NINE YEAR BONDS FXD 1/2006/9Yr TEN YEAR BONDS FXD 1/2006/10Yr Issue Date 25-Feb-13 25-Mar-13 26-Aug-13 24-Dec-13 24-Mar-14 Maturity Date Issued Value in millions 23-Feb-15 20,445.80 23-Mar-15 24-Aug-15 21-Dec-15 26-May-14 23-May-16 22-Dec-14 24-May-10 30-Nov-10 31-Jan-11 Coupon (%) 19,960.65 17,927.40 25,251.00 21-Mar-16 20,000.00 20,130.15 8,905.12 19-Dec-16 18-May-15 23-Nov-15 25-Jan-16 28-May-12 22-May-17 29-Apr-13 1-Jul-13 25-Nov-13 28-Apr-14 23-Jun-14 26-Feb-07 24-Apr-06 27-Mar-06 29-Oct-07 29-Oct-07 28-Jul-08 23-Apr-18 25-Jun-18 19-Nov-18 22-Apr-19 17-Jun-19 16-Feb-15 13-Apr-15 14-Mar-16 FXD 2/2006/10Yr 29-May-06 16-May-16 FXD 1/2007/10Yr FXD 1/2008/10Yr FXD 2/2008/10Yr FXD 3/2008/10Yr FXD 1/2009/10Yr FXD 1/2010/10Yr FXD 2/2010/10Yr FXD 1/2012/10Yr FXD 1/2013/10Yr FXD 1/2014/10Yr 27-Jan-14 ELEVEN YEAR BONDS FXD1/2006/11Yr 25-Sep-06 TWELVE YEAR BONDS FXD1/2006/12Yr FXD1/2007/12Yr 28-Aug-06 28-May-07 FIFTEEN YEAR BONDS FXD1/2007/15Yr FXD2/2007/15Yr FXD3/2007/15Yr FXD1/2008/15Yr FXD1/2009/15Yr FXD1/2010/15Yr FXD2/2010/15Yr FXD1/2012/15Yr FXD1/2013/15Yr FXD2/2013/15Yr TWENTY YEAR BOND FXD1/2008/20Yr FXD1/2011/20Yr FXD1/2012/20Yr 26-Mar-07 25-Jun-07 26-Nov-07 11-Sep-17 13-Aug-18 13-May-19 7-Mar-22 6-Jun-22 7-Nov-22 31-Mar-08 13-Mar-23 26-Oct-09 29-Mar-10 25-Apr-11 24-Sep-12 25-Feb-13 29-Apr-13 7-Oct-24 10-Mar-25 8-Dec-25 6-Sep-27 7-Feb-28 10-Apr-28 30-Jun-08 30-May-11 26-Nov-12 TWENTY FIVE YEAR BOND FXD1/2010/25Yr THIRTY YEAR BOND SDB 1/2011/30Yr 5-Jun-28 5-May-31 1-Nov-32 28-Jun-10 28-May-35 28-Feb-11 21-Jan-41 16-Oct-17 16-Oct-17 16-Jul-18 29-Sep-08 28-Sep-18 27-Sep-09 26-Apr-10 1-Nov-10 25-Jun-12 1-Jul-13 15-Apr-19 13-Apr-20 11,924.85 14,973.10 22,083.10 31,079.55 20,240.75 26,340.05 14,937.80 17,511.20 16,418.25 2,656.90 3,060.25 3,451.05 5,028.10 9,308.80 2,992.75 13,504.70 4,151.60 4,966.85 19,394.15 19-Oct-20 18,849.90 13-Jun-22 19-Jun-23 15-Jan-24 4,031.40 3,900.95 4,864.60 3,654.60 7,236.95 17,568.00 7,830.90 9,420.45 20,823.73 13,513.10 21,089.45 40,886.33 17,385.85 20,360.95 9,365.80 30,724.15 20,192.50 23,888.95 16,803.75 12,643.05 15,030.15 12.8440 12.9400 12.9390 11.5530 10.8030 10.7930 10.8900 6.9510 6.6710 7.6360 11.8550 12.8920 11.3050 11.9520 10.8700 11.9340 12.7500 13.5000 14.0000 14.0000 10.7500 10.7500 10.7500 10.7500 10.7500 8.7900 9.3070 12.7050 12.3710 12.1800 13.7500 14.0000 13.0000 14.5000 13.5000 12.5000 12.5000 12.5000 10.2500 9.0000 11.0000 11.2500 12.0000 13.7500 10.0000 12.0000 11.2500 12.0000 Traded yield (%) Previous Price (%) 100.7754 101.1196 99.9081 100.9722 100.4299 99.7152 99.9985 98.9033 94.0893 96.8148 101.7630 104.6875 98.6300 102.4548 100.3984 100.2700 100.6788 102.2668 102.1563 103.9277 97.8084 95.8019 96.4121 96.8383 96.1897 90.1317 102.8983 105.1801 104.6442 100.4108 97.6357 109.5804 105.3907 11.9700 114.0534 107.2934 106.1604 100.9886 102.8045 88.7101 81.9916 92.1069 91.9950 96.7537 108.1903 77.1738 96.0842 88.1707 76.0769 Total Value traded (kshs) BOOMING BUSINESS The EastAfrican MARKETS JANUARY 3-9,2015 Investors monitor stock prices at China Securities brokerage in Beijing on December 29, 2014. Picture: NYT Seeking to ride high on China’s stockmarket Shanghai’s benchma≥k stock index now ≥anks as the best-pe≥fo≥ming majo≥ index in the wo≥ld By SPECIAL CORRESPONDENTS New York Times K uang Qingming, a banker in Beijing, made a snap investment decision this year. With China’s once-boom- ing property market drifting into the doldrums, Kuang sold an apartment he bought seven years ago for 400,000 renminbi ($65,000), basically breaking even on the investment. He then plowed half the proceeds straight into the stockmarket. “Almost everyone I know is investing, so I think I should be investing, too,” said Kuang, 51. “The index has been rising this year.” But his own stock portfo- 470,000,000 lio’s performance, he said, was essentially flat. China has been grappling with a slowing economy, falling property prices and increasingly tight financing conditions. But the country’s stockmarkets have been surging, thanks in large part to regular investors like Kuang. Ordinary Chinese have been piling into the market at a pace not seen since 2007, before the financial crisis, in some cases pulling money from savings deposits or cashing out of property investments as they try to win big. Investors in Shanghai and Shenzhen opened nearly 900,000 new stock trading accounts in the week that ended December 12 alone, the most in seven years. After several lacklustre years, Shanghai’s benchmark NEW CONNECTION A new connection between the Shanghai and Hong Kong stock markets that opened last month enables mainland investors, for the first time, to directly buy and sell shares in Hong Kong. But access to the programme is restricted to the wealthiest mainland Chinese investors, and the actual trading of Hong Kong stocks has fallen far short of the quotas available. stock index now ranks as the best-performing major index in the world, up 50 per cent so far this year and 31 per cent since the start of November. In December, the Shanghai index surpassed 3,100 points — the highest level in nearly five years. Brokerage firms in Chi- na, the largest of which are state-controlled, have been riding high on the rally, too. On Monday, shares in Guosen Securities soared by the maximum limit of 44 per cent in their trading debut in Shenzhen, after the company raised 7 billion renminbi ($1.14 billion) in an initial public offering. Haitong Securities and Citic Securities, two of the country’s biggest brokerage companies, are both planning new share sales in Hong Kong. Although the Chinese lead- ership has long hoped to see a rebound in the country’s stockmarkets, the current frenzy carries risks that could stick investors with heavy losses. Much of the trading is also being done on margin, or by using borrowed funds to buy shares. So the boom could unwind even faster if sentiment sours. “There’s so much leverage in the market now that it’s really easy for it to become very volatile,” said Anne Stevenson-Yang, a co-founder of J Capital Research in Beijing. China’s market regulators “are not going to tamp down expectations, but they are going to try to control the leverage, in order to make it a little bit less of a casino,” she added. Authorities are trying to curb the worst excesses of the boom. On December 19, the China Securities Regulatory Commission said in a news release that it had started market-manipulation investigations involving the shares of 18 companies with small market values. The regulator has been seeing new types of shortterm manipulation, including “pump and dump” schemes in which investors talk up certain stocks to lift their prices, then quickly sell them at a profit, according to the statement, which was published on its website. Despite the reputation for widespread insider trading and other manipulative practices, China’s stock markets still attract investors in droves at the earliest signs of a rally. Ordinary Chinese inves- tors are willing to tolerate the risks partly because they have relatively few options for how to manage their savings.
Dec 29th 2014
Jan 12th 2015