Trading activity declined further on the secondary bond market for Government of Ghana papers as investors took cautious positions in the first week of 2024.

Investors traded a total face value of GH¢840.63 million, representing a week-on-week decline of 30.69%.

Notably, the total volume traded was almost evenly spread across the yield curve, with each segment contributing about 32%.

The front end of the LCY yield curve declined for the fourth straight week to 15.29% (-221 basis points), while the belly advanced to 18.55% (+217bps).

Analysts expect investors to remain cautious as the market awaits the announcement of the December 2023 inflation and feedback from the official creditors’ committee meeting.