Eurobond yields for Kenya rise in global market trading
By Faith Lagat, April 25, 2026Yields on Kenya’s Eurobonds increased by 9.44 basis points on average in international market trading during the week ending April 23, 2026, according to the Central Bank of Kenya (CBK).
The movement reflects adjustments in emerging market sovereign debt pricing within global financial markets.
The CBK bulletin dated April 24, 2026 states, “In the international market, yields on Kenya’s Eurobonds increased by 9.44 basis points on average. Yields for Côte d’Ivoire also increased while those for Angola decreased.”
The movement was recorded alongside varying performance across selected African sovereign bonds during the period under review. The increase occurred within a broader environment of shifting investor demand for dollar-denominated debt instruments.
Global inflation and energy market pressures
The CBK attributed the global market movement to sustained inflationary pressures linked to energy prices. It noted that inflation pressures remained elevated during the week, “driven by global energy prices, following the ongoing US-Israel-Iran war.”
International crude oil prices increased over the week, with Murban crude oil rising to USD 92.38 per barrel on April 23 from USD 89.61 per barrel on April 16. The US Dollar Index also strengthened by 0.6 percent during the same period, contributing to tighter conditions for dollar-based borrowing.
Inflation trends in major economies showed increases. In the United Kingdom, headline inflation rose to 3.3 percent in March 2026 from 3.0 percent a year earlier. In Canada, inflation increased to 2.4 percent from 1.8 percent.
The CBK attributed these movements to “rising utility bills, food prices, and transport costs resulting from persistent energy-driven cost pressures.”
Domestic market performance
In domestic financial markets, equity indices at the Nairobi Securities Exchange recorded declines during the week. The NASI index fell by 0.55 percent, the NSE 25 by 0.63 percent, and the NSE 20 by 0.79 percent. Market capitalization decreased by 0.55 percent over the same period.
Trading activity in equities increased, with total shares traded rising by 167.39 percent and equity turnover increasing by 59.24 percent. In the secondary bond market, turnover rose by 13.37 percent, reflecting sustained trading activity in government securities.
The CBK bulletin records the movements across both external and domestic markets within the same period, highlighting changes in sovereign Eurobond yields, commodity prices, inflation trends, and securities market activity.