On Friday, the recently issued 10 year dollar denominated Government of
I prefer price action over words and the price action has been breath taking. It would be churlish not to give credit to madam Lagarde's IMF which institution has invested heavily in the
However, nothing goes up forever and investors might look to bag gains because we are now entering the bird in the hand territory. The Kenya Shilling has also proved real resilient and my Friend on
The Shilling has held and bounced off two and a half year lows at 88.20 on several occasions over the last few weeks. The Kenya Shilling whilst down about 1.5 per cent versus the Dollar in 2014 remains only behind the Malawi Kwacha [which has rallied +8.8 per cent over the same period] when you look at the African Currency League Table.
Look at John Dramani Mahama's
Returning to the Eurobond price action, that price action will surely be a catalyst for wrestling local interest rates lower. The spread between GOK USD borrowing rates and GOK local currency rates is like an elastic band that is now stretched too far and will snap back by way of local Kenya Shilling interest rates easing.
The net liquidity add of
I have followed markets from the time I was nine and in Mombasa and used to wait for my dad's Economist which would turn up every Tuesday via Wason's. What I have learnt over these near enough four decades, is that when our mortgage rates reach single digits, we are going to see the next big rally in property prices. The move into single digits is a tipping point and I have seen it happen all over the world.
Property prices rose more than threefold over the last decade in
What about the bifurcation I hear everyone asking as I write this in the early morning in the wonderfully luminescent green that is Kiambu at this time of year. It is a fact that the "Coastal Insurgency" [
"My concern remains that what appear like uncorrelated spikes and paroxysms of violence conflate, become more broad based and amplify."
This naturally remain a very clear and present danger.
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