Bond market: Total market turnover surges 91.52% to ¢336.8m

July 25, 2023 / Comments (0)

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Total market turnover on the secondary bond market upsurged by 91.52% week-on-week to ¢336.87 million.

This shows that activities on the bond market are improving.

The upturn in aggregate market turnover was on the back of a 92.54% week-on-week increase in the volume traded across the short-dated new bonds.

The Local Currency Yield curve tilted northward, led by a 113 basis points increase in average yield at the belly of the yield curve.

Analysts believe the Monetary Policy Committee’s decision to raise the policy rate to 30% could likely pose a downside to market activity as it favors treasury bills with attractive yields over existing bonds.


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