Bond market: Turnover declines sharply by 60% to GH¢941.11 million

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The secondary bond market activity softened over the week, with aggregate turnover declining sharply by 60.44% week-on-week to GH¢941.11 million.

Trading activity was concentrated in the front-to-belly segment of the curve.

The 2027–2030 maturities led activity, accounting for 53.33% of total traded volumes at a weighted-average yield of 11.97%.

The 2031–2034 segment followed closely, capturing 46.63% of total turnover at a weighted-average yield of 12.49%.

In contrast, long-end participation remained negligible, with the 2035–2038 tenors accounting for 0.04% of total volumes and trading at a 12.51% weighted-average yield.

“We believe the sharp decline in turnover points to a pause in positioning, with investors remaining selective ahead of clearer signals from the bond market reopening”, said Databank Research.

Looking ahead, it expects a modest pickup in activity into month-end as investors rebalance portfolios.

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