The secondary market activity softened during the week, with turnover declining by 71.11% week-on-week to GH¢1.56 billion.

Trading remained concentrated in the belly of the curve, with the 2031-2034 maturities accounting for 49.83% of total turnover at an average yield of 14.14%.

The 2027-2030 segment followed closely, contributing 46.26% of trades at a weighted-average yield of 11.75%.

Activity beyond 2035 remained limited, accounting for just 3.91% of turnover at an average yield of 14.64%.

“We attribute the moderation in bond market activity in part to the recent upward repricing of Treasury bill yields, which has improved the relative appeal of shorter-duration instruments”, said Databank Research.

However, it expects secondary market activity to recover this week as portfolio managers rebalance positions ahead of the close of first-half of 2026.