Bond market: Turnover edged up by 41.76% to GH¢3.53bn

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The secondary bond market activity strengthened over the week, with aggregate turnover rising 41.76% week-on-week to GH¢2.53 billion.

Trading activity was concentrated in the 2027-2030 maturities. This accounted for 70.08% of total turnover and clearing at a weighted-average yield of 10.71%.

The 2031-2034 segment accounted for the remaining 29.92% and traded at a weighted-average yield of 12.85%.

Participation was supported in part by trades in the newly issued 7-year (2033) bond totalling GHS87.19 million.

In contrast, the 2035-2038 maturities saw no activity, highlighting still-muted appetite for duration.

Databank Research expects secondary market activity to remain supported in the near term, with liquidity continuing to rotate within the front-to-belly of the curve, reflecting sustained investor preference.

“The outlook revision by Moody’s Ratings from stable to positive, alongside the affirmation of the Caa1 rating, reinforces the improving macro narrative and signals a gradual rebuilding of investor confidence”, it added.

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