Bond market: Market stages strong rebound; turnover increases by 4179%

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The secondary bond market staged a strong rebound this week, with total turnover inching up 4179.25% week-on-week to GH¢1.599 billion, from GH¢37.37 million the previous week.

Trading was heavily skewed toward the February 2032 paper, which accounted for GH¢475.29 million in trades executed.

The 2031–2034 segment remained the market anchor, capturing 77% of total turnover at a weighted-average yield of 15.68%.

The 2027-2030 maturities saw modest investor interest, accounting for 13.1% of trades at a weighted average yield of 15.32%.

Meanwhile, the 2035–2038 bucket accounted for 9.9% of traded volumes, clearing at a weighted-average yield of 15.84%.

“We expect trading volumes to remain firm this week, supported by improved liquidity and renewed investor interest following last week’s rebound”, Databank Research said.

It anticipates market sentiment to be shaped by expectations of the upcoming IMF disbursement, with confidence further strengthened by the recent Monetary Policy Rate (MPR) cut.

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