Bond market: Turnover increased by 33% to GH¢1.87bn

The secondary bond market turnover increased by 33.12% week-on-week to GH¢1.87 billion from GH¢1.41 billion the previous week.

According to the trading results, the February 2035 maturity led flows with GH¢483.92 million in volumes traded.

However, the 2031–2038 bonds led market activity.

It accounted for a combined 68.6% of total volumes at a weighted average yield of 16.10%.

Meanwhile, the 2027–2030 papers accounted for 31% of trades at a weighted average yield of 15.65%.

“We expect market momentum to remain firm in the coming weeks, with short- to medium-term yields staying broadly anchored amid improved investor sentiment following Moody’s credit rating upgrade”, Databank Research said.