Corporate bonds trade rallies on increased supply

Secondary market trading on corporate bonds picked up in the fourth quarter of last year, reflecting the improved supply of issuances in the market and sales by holders chasing higher returns on offers in government securities.

Corporate bonds turnover, while still a small fraction of the trading on government papers, rose to Sh150.8 million in the three months to December 2022, from Sh11.8 million in the previous quarter of the year, Capital Markets Authority (CMA) data shows.