At MEFMI, we prioritise your privacy.

MEFMI uses cookies to enhance your browsing experience and analyse website usage.

For more information, please see our Privacy Policy.**

You can choose how we use cookies:

  • Accept All: This allows us to store all cookies on your device for optimal browsing experience and website analysis.
  • Manage Preferences: You can choose to enable or disable specific types of cookies based on your preferences.

Please note: Disabling certain cookies may affect your browsing experience. Cookie Policy

Customise Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site.... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party applications.

No cookies to display.

Analytical cookies help us understand how visitors interact with our website. This information includes metrics such as the number of visitors, bounce rate, and traffic sources. These insights allow us to improve the user experience and website performance.

No cookies to display.

Performance cookies are used to understand and analyse the key performance indicators of the MEFMI website. This helps us to improve the user experience and ensure our website is running smoothly.

No cookies to display.

MEFMI > AboutMEFMI > Current News > Benchmark Bond Programme and Yield CurveDevelopment in Kenya_Leonard Thotho

Benchmark Bond Programme and Yield CurveDevelopment in Kenya_Leonard Thotho

  • September 10, 2018
  • Posted by: admin
  • Category: Current News
No Comments
Primary and secondary bond market data and Ordinary Least Squares (OLS) and Generalized Auto Regressive Conditional Heteroskedasticity (GARCH) techniques were used to investigate the effect of the benchmark bond programme on the development of the yield curve in Kenya from the year 2000 to 2016. Both simple and multivariate OLS showed that demand for bonds as measured by subscription rate and bid to cover ratios at the primary market were significant determinants of the level and direction of two and five-year benchmark bond yields, and not 10-year bonds.