The secondary bond market came alive in the late sessions of last week.

According to trading results, the total volume traded recorded a notable increase of 351.75% week-on-week to ¢439.75 million.

Instructively, the February 2029 new bond drove the market, accounting for 89% of the aggregate volume traded in the market.

Again, the 2027-2030 instruments recorded an estimated 4.14% increase in average price, reflecting the decrease in average yields to 12.82% (-9 basis points).

The 2031-2034 and 2035-2038 estimated average yields also settled at 14.03% (+99 basis points) and 14.66% (+8 basis points).

Analysts perceived Moody’s upgrade of Ghana’s local currency long-term issuer rating to Caa3 to outweigh the mild upturn in inflation and keep the secondary bond market lively this week.