Highlights U.S. equity markets ended the week relatively lower as the earnings season began. Smaller-cap and value-oriented stocks continued to outperform, extending their year-to-date advantage over large-cap and growth stocks. Value stocks beat growth shares for the third consecutive week. For the week, the S&P 500 fell 0.38%, the Nasdaq dropped 0.92%, and the Dow…
The Year of the Synchronized Pivot Warren Buffett loves to quote his mentor Ben Graham, who once said: “In the short run, the market is a voting machine but in the long run it is a weighing machine.” The recently retired Oracle of Omaha often talked about how the stock market resembled a person with…
Money Market Statistics Liquidity conditions remained largely stable in the week, with the Kenya Shilling Overnight Interbank Average (KESONIA) rising by 0.74bps w/w to an average of 8.99%. Interbank lending advanced during the week, with average traded volumes trending higher by 103.4% w/w to KES 15.25bn, from KES 7.49bn in the prior week. The uptick…
Equity Market Summary The market closed the week on a bullish note with the NSE 20 and NSE 25, gaining 0.7% w/w each. Likewise, the NASI and N10 advanced by 1.0% w/w and 0.6% w/w, respectively. Market activity declined to USD 18.0m (-33.3% w/w). Safaricom dominated market activity, accounting for 23.6% of the week’s turnover. The counter’s…
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