Bond market: Total market turnover up 18.09% to ¢1.40bn

Trading of Government of Ghana papers in the local bond market regained steam last week as the total weekly volume traded improved 18.09% week-on-week to ¢1.40 billion.

The February 2027 (coupon: 8.35%) paper gained traction in last week’s trading, as it matched the February 2030 (coupon: 8.80%) bond, to jointly contribute 60% of total market turnover.

Notably, the average yield for the 2027 to 2030 tenors increased by 205 basis points to 20.05%, while the 2031 to 2034 papers traded around 15.72%, down by 96 basis points.

Analysts expect trading activity to remain lively in the bond market in the near term as investor confidence in the Ghanaian economy steadily strengthens.

Treasury bills dominated market activity, accounting for 62.9% of the volume traded, with bonds accounting for the difference.

The volume of bonds traded continues to improve from the weak levels right after the Domestic Debt Exchange Programme.

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