The secondary market activity rebounded sharply over the week, with aggregate turnover surging 559.42% week-on-week to GH¢2.49 billion from GH¢377.59 million.

Trading activity was concentrated in the belly of the curve, with the 2031-2034 maturities dominating activity at 64.13% of total volumes at a weighted average yield of 12.51%.

The 2027-2030 segment followed, capturing 35.87% of total turnover at a weighted-average yield of 10.98%.

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

Databank Research observed modest demand at the 7-year (2033) bond issuance, with GGH¢3.15bn tendered and GH¢2.78bn allocated at a 12.50% coupon, ahead of settlement on 7th April 2026.

“In our view, participation was constrained by the offered pricing, suggesting cautious investor appetite. We therefore expect secondary market activity to remain subdued in the near term, as investors reassess pricing and positioning”, it stated.