Bond market turnover falls again by 27% to ¢689m

February 7, 2023 / Comments (0)

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The total turnover of the bond market fell once again by 27.8% to ¢689 million at the end of trading last week.

According to market data, the slowdown in market activity was due to the ongoing Domestic Debt Exchange Programme, as investors sat on the fence.

The October 2024, January 2025, March 2025 and August 2027 papers drove market activity, accounting for 58.94% of aggregate market volume.

Last week, the total turnover of the bond market declined by 54.8% to ¢954.15 million at the end of trading last week.

Analysts perceive a stale market this week as the deadline for the domestic debt exchange is today February 7, 2023, with the government looking to conclude the programme.

Finance Minister, Ken Ofori-Atta, believes the successful completion of the Domestic Debt Exchange Programme will revive the economy, and consequently boos the bod market.

“What we want is an economy that is back on track, stable, vibrant, productive, dynamic; meeting the needs of individuals, households, and enterprises; delivering shared and inclusive growth; and improving incomes and livelihoods,” he pointed out.

Source: myjoyonline.com

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