Bond market: Turnover increased 30.54% week-on-week to GH¢1.62bn

On February 3, 2024, 12:29 PM

Trading activity in the secondary bond market improved last week as investors exchanged GH¢1.62 billion.

This reflected a week-on-week increase of 30.54%.

Notably, the trades recorded were largely repos and bond exchanges.

Market activity was skewed towards the front of the LCY yield curve, as the February 2028 (Coupon: 8.5%) paper gained traction with 62% of the total volume traded.

The LCY yield curve continued to tilt northwards, as the average Yield-To-Maturity on the 2027-2030 papers increased to 19.20%, while the 2035-2038 advanced to 15.94%.

Analysts expect bond market activity to gradually improve following the steady upgrade in Ghana’s macroeconomic indicators, as shown in the latest summary of economic and financial data released by the Bank of Ghana.