Bond market: Total market turnover increased by 24.61% to GH¢962.34m

The Secondary bond market activity bounced back last week, as the total volume traded increased by 24.61% week-on-week to GH¢962.34 million.

Trading activity increased largely on the back of the February 2036 and February 2037 papers, which jointly attracted 52% of the aggregate weekly volume traded around an average yield of 20.51%.

Also, the increase in turnover was partly supported by activity at the belly of the Lower Curve (LCY) yield curve, which advanced in trades over the previous week.

The government commenced enforcement to tax resident Ghanaians' foreign incomes to close the GH¢1.80 billion revenue gap left by cancelling the value-added tax on electricity earlier in 2024.

Analysts believe this is positive for the government’s fiscal consolidation efforts.

Therefore, improving investor sentiments which may be favourable for bond market activity.

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