Bond market: Total market turnover declined 24.62% to ¢1.04bn

November 8, 2023 / Comments (0)

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Trading of Government of Ghana papers in the local bond market declined by 24.62% week-on-week.

However, the total weekly volume traded remained above ¢1.0 billion.

Investors’ appetite improved towards medium-term maturities, as the 2031-2034 papers registered 77.88% of the market turnover.

Particularly, the February 2031 (coupon: 8.95%) bond dominated market activity, with 66% of the total weekly volume traded.

The weighted average yield at the belly of the Local Currency Yield curve advanced 119 basis points to 15.2%.

Analysts perceive trading activity could be sluggish this week as investors’ slowdown in the early sessions, awaiting inflation data to gauge the tone of the economy.


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