The shilling traded range bound, holding out at levels of 3715/25 due to matching demand and supply conditions. In the regional markets, the Kenya shilling was also on a steady path, holding at 146.0 for most of the trading sessions.
In the bond market, the 5 and 15 year bond yields were largely flat at 15.200% and 16.25% with fiscal authorities knocking out what they perceived as outliers bids, taking less than what was on offer.
In the global markets, the US dollar maintained a bullish stance against its peers bolstered by resilient economic data showing very strong growth fundamentals compared to the Eurozone. The greenback strength has generated debate around the Federal Reserve attitude going forward.
Looking ahead, the upshot is that in the absence of major market moving events, the home unit and by implication the fixed income market will have little impetus to veer from the current trading ranges.
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