History said that the markets would be volatile leading into a general election. History was right. The Nairobi Securities Exchange (NSE) 20 Share Index is down some 6 percent in a year to date with most foreign investors busy on the sell side.
Yields on the seven-year (issued in 2019), 10-year (issued in 2014) and 30-year (issued in 2018) Eurobonds have on average risen over 300 basis points to close at 13 percent, 12.2 percent and 12 percent since the beginning of the year to date.
