Trading activity slowed on the secondary bond market for Government of Ghana papers, partly reflecting a shorter trading week due to the recent festive season.

Investors exchanged ¢1.21 billion worth of bonds, translating to a 43.6% decline in trading volumes.

Though the total volume traded was spread almost across all tenors, the February 2028 (Coupon: 8.5%) paper dominated trading activity with 37% of the total market turnover.

Yields at the front end of the LCY curve maintained a downward trend, declining by an average of 139 basis points to 17.5%, while the tail advanced to 16.2% (+107 basis points).

Analysts expect the year-open portfolio adjustment by fund managers to augur well for bond market activity this month.