Yields on Kenya’s Eurobonds have surged to their highest levels since November 2023, indicating increased risk perception among investors.
The surge is linked to the recent imposition of tariffs by U.S. President Donald Trump has led to significant financial market reactions in Kenya.
Specifically, yields rose by between 1.5 and 2.8 percentage points compared to the previous week, reaching between 11.6% and 12.6% across various maturities.
This spike suggests that if Kenya were to issue new bonds under current conditions, it would face substantially higher borrowing costs.
Also Read: Investors Shy Away From Kenya’s $900 Million Eurobond Buyback to Tender 65%, Only
The Nairobi Securities Exchange (NSE) also experienced a downturn, with investor wealth declining by Ksh.35.4 billion.
The tariffs have heightened risk perceptions for frontier markets like Kenya, leading to increased yields on their sovereign bonds.
This development underscores the interconnectedness of global trade policies and local financial markets, calling for strategic responses to external economic pressures.
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