london many kenyans fear thursday election re-run provoke serious trouble foreign investors cautiously confident country debt ride crisis although remain hesitant local stock base scenario vote conclude largely smoothly however give kenya external debt rat b+ trade level akin bond rat two notch low mean assets already adjust uncertainty negative surprise may less impact nairobi 1.5 billion stand-by facility deal international monetary fund provide additional comfort east africa large economy slip turmoil since supreme court rule annul result presidential elections august matter worsen opposition leader raila odinga quit re-run incumbent uhuru kenyatta near term ... rule september period uncertainty extend point say diana amoa portfolio manager jpmorgan asset management outlook go forward get past period positive one police clash opposition supporters thursday gang youths prevent vote towns handful poll officials pitch work kisumu scene major ethnic violence dispute election 2007 cower behind close doors unable distribute vote material however government say security situation large ok poll station open 90 percent country fund active africa across frontier market sub-set risky small develop countries 55 billion kenyan economy firm part portfolios country 2.75 billion dollar-denominated bond mature 2019 ke102895185= 2024 ke102895240= form part major emerge market debt benchmarks frontier index .jpmegdr .jpmng year-to-date kenyan dollar bond .jpmegkenr .jpmegdkenr chalk solid return 12 percent compare nearly percent index .jpmegr .jpmegdr however political stand-off blunt economic growth kenya largely stable since violence decade ago kenyan debt still underperform peer say gabriele foa strategist bank america merrill lynch note yield premiums u.s. debt narrow much sub-saharan debt look spread angola ghana nigeria zambia widen year say foa overweight rat kenya dollar bond saw compression line region kenya definitely lag still investors also upbeat local government bond market worth 1,387 billion shill 13.4 billion kenyan shill broadly unshaken political events soften percent since start year previous experience point towards shill bounce back swiftly violence rip country follow 2007 elections shill fell 15 percent dollar recover pre-vote level within three months softness currency couple low foreign position overall assets make local debt attractive say jpmorgan amoa investors kenya 22.3 billion stock market cautious nairobi stock exchange share index .nasi rise around 17 percent since start year dollar term gain fall well short 30 percent jump across emerge equities .mscief broadly foreign investors generally wait-and-see mode net sell margin say hasnain malik head equity research exotix capital percentage nairobi-listed stock own foreigners edge 21 percent 2017 peak 22.5 percent 2013. yet wait sideline may well happy return political impasse resolve kenya great hope investors africa non-commodity produce country potential industrialize ahead peer money go railways roads port say daniel salter head equity strategy renaissance capital country investors want like like current uncertainty kenya 's foreign debt investors take election turmoil calmly