Investors who sold Treasury bonds on the NSE earned Ksh132.7 billion in profits during the first half of 2026, up 30.7% from Ksh101.6 billion recorded a year earlier, according to the Capital Markets Authority.the gains were driven by falling interest rates on newly issued government bonds, making older securities with higher returns more attractive. Investors sold bonds worth Ksh1.7 trillion that had been bought for Ksh1.57 trillion.
Tax-free infrastructure bonds issued in 2023 and 2024, offering coupons of up to 18.5%, attracted the strongest demand, with some trading at premiums of up to 23% above face value.
