Trading activity on the secondary bond market for Government of Ghana papers remained robust last week.

There was a weekly face value traded of ¢2.15 billion, up by 4.01% week-on-week.

The February 2029 (Coupon: 8.65%) and February 2032 (Coupon: 9.1%) were the most active papers.

They recorded trades in all sessions and jointly accounted for half of the aggregate market turnover.

Notably, the front end of the LCY curve recorded increases in bond prices, resulting in a considerable decrease in average yields to 18.89% (-33bps).

Analysts believe the positive Gross Domestic Product growth data for quarter 3, 2023 and the $541million cocoa loan inflows could drive some market activity this week.