Bond market: Turnover increased by 177% to GH¢5.01bn

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The secondary market activity strengthened markedly last week, with secondary-market turnover increasing by 177.86% week-on-week to GH¢5.01 billion.

Trading was firmly anchored in the short- to medium-dated segments, with 2027-2030 maturities driving 58.93% of turnover at an average yield of 14.28%.

The 2031-2034 segment followed closely, contributing 38.64% at 14.49%.

The activity beyond 2035 remained subdued, accounting for just 2.43% of trades at an average yield of 15.05%.

Databank Research expects secondary-market activity to remain supported by month-end portfolio rebalancing.

This momentum should be reinforced by the anticipated US$318 million International Monetary Fund (IMF) disbursement and approval of the proposed Policy Coordination Instrument.

In addition, the Mid-Year Budget’s GH¢30 billion sinking-fund commitment should ease near-term rollover concerns.

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