Bond market: Turnover tumbles by 52.9% to GH¢336.90m

Audio By Carbonatix

Total turnover on the bond market retreated by 52.94% week-on-week to GH¢336.90 million last week.

The decrease in activity partly came on the back of a shorter trading week resulting from the Eid ul-Fitr celebration.

The front end of the Local Currency (LCY) yield curve continues to see a bulk of market activity, with over 55% of the aggregate weekly turnover.

Meanwhile, the February 2036 papers at the tail of the LCY curve recorded some minor exchanges.

Ghana reached an International Monetary Fund Staff-Level agreement on its second review, with positive remarks on key benchmarks and gradual economic progress.

Notably, the review revealed that Ghana is on track to achieve a fiscal primary surplus of 0.5% of Gross Domestic Product in 2024.

Analysts believe this is positive for the bond market as it calms sentiments about the country’s fiscal position in this election year.

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