Kenyan elections pass peacefully but risks still linger

Events in sub-Saharan Africa have been dominated by presidential elections in Kenya. By past standards at least, the vote was peacefully and markets have remained stable. The shilling has actually strengthened a little against the dollar since the start of the month, while local currency bond yields have edged down a touch. Nonetheless, while a repeat of the extreme violence that marred the 2007 election looks unlikely at this stage, uncertainty lingers. And with politics still in a state of flux, markets are likely to remain on a knife-edge over the coming weeks.