Bond market records 33.12% surge after Moody’s upgrade
Trading activity on Ghana’s secondary bond market strengthened last week, with total turnover climbing by 33.12 per cent week-on-week to GHS1.87 billion, up from GHS1.41 billion recorded the previous week.
The surge reflects renewed investor confidence and improved market sentiment following Ghana’s recent credit rating upgrade by Moody’s.
According to market data, the February 2035 maturity led trading volumes, recording GHS483.92 million in transactions.
The most active segment of the market, however, was the medium- to long-term bracket, covering bonds maturing between 2031 and 2038. This category accounted for a dominant 68.6 per cent of total volumes traded, at a weighted average yield of 16.10 per cent.
The 2027 to 2030 bond papers also saw considerable interest, representing 31 per cent of overall market activity and trading at a weighted average yield of 15.65 per cent.
Databank Research, in its latest market commentary, noted that trading momentum is likely to remain firm in the near term as investor appetite continues to recover.
“We expect market momentum to remain firm in the coming weeks, with short- to medium-term yields staying broadly anchored amid improved investor sentiment following Moody’s credit rating upgrade,” the report stated.
The uptick in turnover and stable yield environment signal growing optimism in Ghana’s fixed-income market, particularly as the country progresses with fiscal consolidation and debt restructuring efforts under the International Monetary Fund (IMF) programme.
