From Turmoil to Record Highs. It is easy to tell a simple story about the markets at the moment, but it would be wrong. In the parable of the blind men attempting to describe an elephant, one likens it to a snake after touching its trunk, while another describes it as a tree after feeling…
MONEY MARKET STATISTICS Interbank lending volumes increased to KES 13.03bn from KES 10.75bn over the week, with activity remaining relatively steady throughout. The average interbank rate was largely unchanged, inching down to 9.62%, amid sustained liquidity absorption by the CBK. The table below summarizes market liquidity indicators: On a month-on-month basis, average traded volumes remain…
EQUITY MARKET COMMENTARY The market closed the week in the green, with the NASI, N10, NSE 20, and NSE 25 gaining by 1.6% w/w, 1.5% w/w, 1.4% w/w, and 1.6% w/w, respectively. Market activity rose to USD 20.0m (+11.2% w/w). KCB Group dominated market activity, accounting for 43.0% of the week’s turnover. The counter’s price…
Highlights U.S. market bulls charged forward in the week, reversing the previous week’s drop and reaching new record highs supported by solid corporate earnings reports and generally favourable economic data. Earnings season began in earnest on Tuesday with several big banks reporting earnings. JP Morgan Chase, the largest U.S. bank, and Citigroup both reported better-than-expected…
EQUITY MARKET COMMENTARY The market closed the week in the red, with the NASI, N10, NSE 20, and NSE 25 retreating by 0.7% w/w, 1.4% w/w, 0.5% w/w, and 0.9% w/w, respectively. Market activity softened to USD 18.0m (-5.4% w/w). Equity Group dominated market activity, accounting for 26.8% of the week’s turnover. The counter’s price…
MONEY MARKET STATISTICS Interbank lending volumes eased to KES 10.75bn from KES 11.93bn, despite an increase in transaction activity over the week. Meanwhile, the average interbank rate held steady, edging up slightly to 9.64%, amid continued liquidity absorption in the market by the Central Bank. The table below summarizes the market liquidity indicators: On a…
Highlights Tariffs remained the dominant theme moving markets in the week, but the reaction in the equities market was relatively muted when compared with previous tariff announcements. U.S. President Donald Trump announced 25% trade levies on major trading partners South Korea and Japan while also saying that he would significantly increase Brazil’s tariff to 50%…
MONEY MARKET STATISTICS Interbank lending volumes rose to KES 11.93bn from KES 5.30bn, despite a slight drop in transaction activity over the week. Meanwhile, the average interbank rate held largely steady, edging down slightly to 9.63%, amid continued liquidity absorption in the market by the Central Bank. The table below summarizes the market liquidity indicators:…
EQUITY MARKET COMMENTARY The market closed the week on a mixed note, with the NASI declining by 1.3% w/w, whereas the N10 and NSE 25 eased by 0.7% w/w each. On the other hand, the NSE 20 rose by 0.4% w/w. Market activity softened to USD 19.05m (-34.0% w/w). Safaricom dominated market activity, accounting for 41.4%…
MACRO VIEW: SWEET NOTHING We have observed with growing concern the persistent misalignment of economic stability with economic prosperity. Businesses thrive in predictable environments and abhor volatility. While stability is valuable and a key ingredient for growth, it alone is not a driver for prosperity. Further, while indicators have been coming through positively, the prosperity…
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