Bond market: Turnover declines by 18% to GH¢326m

The secondary bond market softened this week, with total turnover declining 18.16% week-on-week to GH¢326.76 million from GH¢399.29 million the previous week.

Trading remained skewed toward the belly of the curve, led by the February 2027 maturity, which dominated market flows with GH¢157.83 million in executed trades.

The 2027-2030 segment served as the market anchor, capturing 61% of total turnover at a weighted average yield of 15.62%.

The 2031–2034 maturities also attracted meaningful interest, accounting for 39% of traded volumes at a weighted average yield of 15.81%.

Activity on the long end remained muted, with limited investor engagement across the 2035-2038 segment.

“We expect a steady but cautious tone next week, with yields broadly stable but slightly firmer as investors assess revenue risks from the budget and await clarity from the upcoming Monetary Policy Committee (MPC) meeting. We anticipate long-end activity will remain muted, given the limited appetite for duration, though sentiment could shift once the finance minister outlines concrete plans to revitalise the domestic bond market”, said Databank.

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