Bond market: Total market turnover shoots up 143% to ¢418.57m

August 9, 2023 / Comments (0)

News Show on Home

Trading activity remained upbeat last week, as the total face value traded increased to ¢418.57 million, 143.30% growth.

Activity in the new bonds garnered strong momentum following block transactions on the 5-year bond (maturity: Feb-28), accounting for 53% of the total volume traded.

Overall, investors remained focused on the 2027-2030 maturities, contributing nearly 100% of the total market turnover.

Analysts remained optimistic about trading activity on the secondary bond market as Ghana’s economy partly responds positively to various fiscal consolidation measures, improving investor confidence.

Meanwhile, treasury yields will remain under upward pressure in the near-term. This is given the treasury bills remain the only domestic borrowing instrument available to the authorities amidst conditional inflows from International Monetary Fund related sources.


Leave a Reply

Your email address will not be published. Required fields are marked *