Bond market: Turnover declines 42.47% to GH¢2.27bn

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The Secondary bond market activity moderated over the week, with aggregate turnover declining 42.47% week-on-week to GH¢2.27 billion.

The flow dynamics suggest a clear preference for the belly of the curve.

The 2031–2034 segment dominated activity, accounting for 46.4% of turnover, at a weighted-average yield of 14.53%.

On the other hand, the 2027–2030 maturities captured 41.9% of traded volumes at a 13.75% weighted-average yield.

The long-end participation remained comparatively thin, with the 2035–2038 tenors contributing to 11.7% of volumes at a 15.41% weighted-average yield.

Databank expects the upcoming coupon inflow of approximately GH¢10.10 billion in February 2026 to strengthen secondary market activity in the near term and reinforce already strong liquidity conditions.

“We believe this coupon-driven reinvestment wave is likely to sustain a gradual downward bias in yields, particularly across the actively traded belly of the curve”, it added.

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Bond market

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YTM