Bond market: Total market turnover rebounds to GH¢715.85m

April 10, 2024 / Comments (0)

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Total market turnover on the secondary bond market rebounded by 101.72% week-on-week to GH¢715.85 million last week.

The increase in activity partly came from clips of minor trades across the front of the LCY (Local Currency Yield) curve.

This was attributed to some banks easing their bond portfolio to shore up cash reserves to comply with new monetary measures from the Bank of Ghana.

Market activity remained at the front and the tail of the LCY curve, with the February 2036 and February 2037 papers jointly accounting for 46% of the weekly aggregate market turnover.

Analysts believe exchange volumes could continue to improve in this week’s trading sessions.

This is because banks explore avenues in the bond market to increase their cash reserve position.

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