Bond market activity rises to GH¢1.41bn
Activity on Ghana’s secondary bond market recorded a significant rebound last week, as total turnover rose by 55.26 per cent week-on-week to GHS1.41 billion, up from GHS906.14 million in the previous trading week.
According to trading data, the surge in volumes reflects improved investor sentiment and stronger market participation, particularly in medium- and long-dated government bonds. The February 2033 bond maturity led trading, recording GHS651.75 million in volumes, the highest for the week.
Bonds maturing between 2031 and 2034 dominated overall market activity, accounting for 59 per cent of total volumes, traded at a weighted average yield of 16.00 per cent. The 2027 to 2030 papers contributed 40 per cent of the total volume, with a weighted average yield of 15.98 per cent.
In its weekly market update, Databank Research noted that the higher trading volumes signal growing confidence in the domestic debt market following months of muted activity.
“Improved volumes signal firmer confidence, although sentiment remains cautious ahead of potential government re-entry, which could influence near-term pricing and investor positioning,” Databank stated.
Despite last week’s strong performance, Databank Research anticipates that secondary market activity may moderate in the coming sessions. Trading is expected to remain concentrated in the front- and intermediate-term segments, where liquidity remains deepest.
“We expect secondary market activity to moderate in the coming sessions, with flows centred in the front and intermediate segments,” the report noted.
