The secondary bond market for Government of Ghana papers slowed in activity as the total volume traded declined by 16.25% week-on-week to GH¢1.33 billion.
Notably, exchanges from the February 2028 (coupon: 8.50%) and February 2029 (coupon: 8.65%) papers jointly constituted about 76% of the aggregate market turnover.
The LCY yield curve reversed downward, as the average Yield-To-Maturity on the 2027-2030 papers decreased to 19.13% (-198bps).
The 2035- 2038 also retreated to 17.07% (-14 basis points).
Analysts expect the sluggish trend in bond market activity to continue as investors reinforce firm demand for treasury bills to increase investment returns. This is amid declining T-bill yields.
Meanwhile, the government plans to raise GH¢4.87 billion on the 91-day to 364-day bills to refinance GH¢4.15bn maturing bills.
Analysts believe a relatively high auction target (+6.06% week-on-week), could trigger some upside pressures to yields.
Latest Stories
-
Putin says Russia will use new missile again in ‘combat conditions’
1 hour -
We have rescued kidnapped Emirates Airlines Airport Services Manager – Police
2 hours -
Bawumia-branded campaign vehicle burns, occupants escape unscathed
2 hours -
Bawumia, thousands observe ‘Jummah’ prayers as new Walewale Central Mosque is commissioned
2 hours -
Peasant farmers hail Bawumia as Walewale Watermelon Factory is commissioned
3 hours -
Joy FM Prayer Summit for Peace ends in electrifying worship and prayer
10 hours -
The Conscience of Leadership: A call to President Akufo-Addo on Ghana’s environmental devastation
11 hours -
Ghanaian youth unaware of their right to hold politicians accountable – Youth Bridge Foundation
11 hours -
Judge delays Trump sentencing for a third time
12 hours -
2024 WAFCON: Ghana drawn against defending champions South Africa in Group C
12 hours -
Photos from DW-JoyNews street debate on ‘galamsey’
13 hours -
Mimmy Yeboah: Blending heritage with global sophistication, confidence redefined through couture
13 hours -
100 Most Influential People Awards 2024: Brain Hill International School’s Director Mary Anane Awuku honoured
14 hours -
Akufo-Addo commissions 97-km Tema-Mpakadan railway line
14 hours -
Majority requests recall of Parliament
14 hours