FIXED INCOME

LIVE

Secondary Market Switches

Analyze bond switch economics · Kenya Government Securities

SELL ↓

BUY ↑

Switch Parameters

Switch Amount (KES Millions)

Transaction Cost (bps)

Switch Economics

SELL PROCEEDS

95.80M

TRANSACTION COST

-0.05M

NET PROCEEDS

95.75M

BUY AMOUNT

93.78M

YIELD PICKUP

-0.30%

13.80% → 13.50%

DURATION CHANGE

+2.60Y

4.20Y → 6.80Y

BREAK-EVEN

0.17Y

Time to recover costs

Switch Summary

Sell:100M IFB1/2028/12.5 @ 95.8

Buy:93.78M IFB1/2030/14.0 @ 102.1

Net Yield Impact:-30.00M annually

Switch Strategy

Bond switches allow portfolio repositioning to capture yield, adjust duration, or improve liquidity. Consider transaction costs, tax implications, and market impact when executing switches.

Break-Even Analysis

The break-even period shows how long it takes for yield pickup to recover transaction costs. Shorter is better. Consider your investment horizon when evaluating switches.