Activity on the secondary bond market slowed down last week as no trades were recorded in the new Government of Ghana (GoG) bonds.

Aggregate trade volume declined by 97.52% week-on-week.

Aggregate turnover was estimated at¢38 million across the old and new bonds.

A total face value of ¢11.38 million changed hands across some segments of the old GoG bonds.

According to the market report, new bonds were lifeless on the market last week.

However, the 2027-2030 papers quoted around an average yield of 11.97% (+58 basis points week-on-week).

Turnover for Treasury bills, however, increased by 66.9% week-on-week to ¢856 million.

Analysts foresee a rebound in trading activity on the secondary bond market, as the government expects an IMF board-level approval this week which is expected to improve investor sentiment.