Treasury Bond Auction Results November 2026: 7 CBK Figures That Matter

Updated 9 November 2026

The latest treasury bond auction results from the Central Bank of Kenya cover the reopened fifteen-year FXD3/2019/015 and thirty-year FXD1/2026/030 issues dated 9 November 2026. Investors bid about KSh99.47 billion against a KSh50 billion offer. CBK accepted KSh70.86 billion at weighted average rates of 12.7404% and 14.1266%. This guide walks through the official table so you can read the allotment, the prices and how the money was used.

Primary source: CBK PDF Results for FXD3/2019/015 and FXD1/2026/030 dated 09/11/2026, signed by David Luusa, Director, Financial Markets, on 4 November 2026. All figures below come from that sheet only.

Treasury bond auction results: headline numbers

These treasury bond auction results cover two reopenings under one KSh50 billion offer. Total bids received at cost were KSh99.47 billion (performance 198.93%). Amount accepted was KSh70.86 billion, of which KSh32.18 billion was competitive and KSh38.68 billion non-competitive. The overall bid-to-cover ratio on accepted amounts was 1.40.

Demand was stronger for the long thirty-year paper than for the shorter reopening: FXD1/2026/030 was 124.80% subscribed on its slice, while FXD3/2019/015 printed 74.14%.

FXD3/2019/015 in the 9 November treasury bond auction results

FXD3/2019/015 now has about 7.8 years left to its 10 July 2034 maturity. Its coupon is 12.34%. CBK accepted bids at a weighted average of 12.7404%, which put the average price at 101.8243 per KSh100 face value — a premium to par, because the accepted yield sits close to the coupon on a bond with under eight years left.

Most of the accepted amount on this line was non-competitive (KSh22.73 billion versus KSh7.17 billion competitive). That pattern is common when retail and smaller institutional bids take the weighted average rather than naming their own yield. If you use the non-competitive route next time, you accept whatever weighted average these treasury bond auction results would have printed.

FXD1/2026/030: the 30-year line

FXD1/2026/030 runs to 13 March 2056 (about 29.5 years). Coupon is 12.50%. Accepted weighted average yield was 14.1266%, so the average price was 89.3921 per KSh100 — a discount, which is what you expect when the market yield is above the coupon on a long bond.

Here competitive bids dominated (KSh25.01 billion versus KSh15.95 billion non-competitive). Investors who wanted the long tenor were more willing to name a rate. Bid-to-cover on this line was 1.52, the stronger of the two papers in this set of treasury bond auction results.

How the accepted money was applied

The results sheet splits the use of funds for the combined auction:

• Redemptions: KSh40,459.00 million
• New borrowing / net repayment: KSh30,400.41 million

Of the KSh70.86 billion accepted, a large share rolled over maturing paper and the balance was new borrowing. When you track weekly funding, separate the redemption leg from the net new borrowing rather than treating the full allotment as fresh duration.

How to read the yields in these treasury bond auction results

Three practical reads from the table:

1. Curve shape: accepted yields of about 12.74% on the ~8-year residual and 14.13% on the ~30-year leave a steep long end. Price duration gap, not only the coupons, when you compare the two lines.
2. Price risk: buying FXD1/2026/030 near 89 means more of your return is pull-to-par plus coupon; the 15-year line near 102 is already above par.
3. Non-competitive path: on FXD3/2019/015, non-competitive bids took most of the allotment. That path is simpler, but you do not set the clearing yield.

For a worked example of proceeds at a given face value, use our Treasury bond calculator. The October 2026 page at treasury bond auction results Kenya covers last month’s auctions and is separate from this 9 November print.

Forthcoming November 2026 bond issues

Section B of the same PDF says further Treasury bond issues for November 2026 will be announced, with tenor, amounts, coupons and terms in the prospectus before each issue date. No extra bonds are named in this results sheet. Watch CBK’s Treasury bond pages and each prospectus before you bid on DhowCSD or Treasury Mobile Direct.

The reopen that fed this auction was earlier announced as a KSh50 billion combined offer; our coverage of that notice is at CBK reopens KSh50bn Treasury bonds.

How these treasury bond auction results differ from October

Business Radar already publishes a monthly October 2026 treasury bond auction results page. This article is only the 9 November 2026 reopening of FXD3/2019/015 and FXD1/2026/030. Keep the two pages separate: one is a month round-up, the other is this week’s primary CBK PDF. If a later November auction prints, it will need its own dated write-up rather than overwriting either page.

Always download the CBK PDF yourself before you bid. Rates, prices and allotments on secondary sites can lag or round differently from the official table.

Checklist before you rely on treasury bond auction results

Before you treat any secondary summary as final, run this short checklist against the CBK PDF:

1. Confirm the issue numbers and ISINs match FXD3/2019/015 (KE6000001328) and FXD1/2026/030 (KE8000006760).
2. Copy the weighted average rate of accepted bids, not only the market weighted average rate. The two differ on both lines in this auction.
3. Note the price per KSh100. A premium (above 100) and a discount (below 100) change how much cash you pay for the same face value.
4. Separate redemptions from new borrowing when you brief a treasury or investment committee.
5. Check Section B for whether another November prospectus is already flagged. This sheet only says further issues will be announced.

That discipline keeps your file aligned with the primary treasury bond auction results rather than with a rounded press paraphrase.

Frequently asked questions

What were the accepted yields on 9 November 2026?

Per the official treasury bond auction results, FXD3/2019/015 cleared at 12.7404% and FXD1/2026/030 at 14.1266%.

How much did CBK accept in total?

KSh70,859.41 million against bids of KSh99,467.35 million and a KSh50,000 million offer.

Was the long bond oversubscribed?

FXD1/2026/030 showed a 124.80% performance rate. The shorter FXD3/2019/015 printed 74.14%.

Where is the primary source for these treasury bond auction results?

Download the CBK PDF titled results for FXD3/2019/015 and FXD1/2026/030 dated 09/11/2026 from the Central Bank’s historical Treasury bond results uploads.