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
-
AI can dis-inform; media must be cautious in its usage during election – Caroline Anipah
2 hours -
Ghana Meteo warns of thunderstorms, variable rains over the country
10 mins -
Why appoint a parliamentary aspirant as MD for a struggling state bank? – Bright Simons asks
35 mins -
Brazil floods drive thousands from their homes
2 hours -
The media must provide accurate and unbiased information about candidates – Suzanne Nti
2 hours -
Election 2024: Let’s vote on values, not party lines – Dr Lawrence Tetteh
2 hours -
Couple donate modern facilities to Nkonya SHS
2 hours -
Hundreds killed in Afghanistan flash flooding
2 hours -
Former Fiji PM Frank Bainimarama jailed for a year
3 hours -
US says Israel may have breached international law with American weapons in Gaza
3 hours -
Ukraine: Hundreds flee Kharkiv area after Russian cross-border attack
3 hours -
New girls’ washroom facility for Nkonya SHS ready for use
3 hours -
5 arrested, remanded over alleged murder of two police officers
3 hours -
Tweneboa Kodua Fokuo appointed Managing Director of NIB
3 hours -
CEO of Agblor Lodge commended for coastal protection efforts
3 hours