Bond market: Turnover declines 8.49% to GH¢2.08bn

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The secondary market activity softened over the week, with aggregate turnover declining 8.49% week-on-week to GH¢2.08 billion.

Trading remained concentrated in the belly of the curve, as the 2031–2034 segment accounted for 72.8% of total volumes at a weighted-average yield of 13.23%.

The 2027–2030 maturities captured 26% of traded volumes at a 12.60% weighted-average yield, while participation at the long end was notably thin, with the 2035–2038 tenors contributing just 1.2% of turnover at a 14.86% weighted-average yield.

Databank Research expects the bond market activity to remain relatively soft in the near term, as elevated liquidity and less attractive yields reduce urgency to add duration.

“Nonetheless, selective flows may emerge as portfolio managers rebalance and adjust positions towards the month-end”, it concluded.

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