The Secondary bond market softened notably, with total turnover declining 30.12% week-on-week to GH¢399.29 million from GH¢571.42 million the previous week.

Trading was largely concentrated in the February 2032 maturity, which remained the most actively traded paper. This accounted for GH¢145.04 million of flows.

The 2031-2034 bonds emerged as the market's anchor, capturing 56% of total turnover at a weighted average yield of 15.74%.

The 2027–2030 maturities also drew notable interest, accounting for 35% of traded volumes at a weighted average yield of 15.92%.

Databank Research said it expects market activity to remain subdued in the near term.

 However, the S&P upgrade of Ghana’s credit rating to B-/B from CCC+/C signals improving macro and fiscal conditions and could gradually support sentiment and investor re-engagement.