June 13, 2024
P.O.Box 613ER Gombilla House, Lamashegu Market, Tamale, Northern Region

Bond market: Total turnover shoots up 23.5%; new bonds attract high investor interest

The secondary bond market recorded a notable uptick in trading momentum last week. This led to an increase in market turnover by 23.56% week-on-week to ¢97.30 million.

According to trading results, the 2027-2030 maturities of the new bonds continued to attract high investor interest, accounting for 78% of the total face value traded in the market.

Last week, the bears strengthened their grip on the secondary bond market, exerting downward pressure on treasury bond prices across all segments of the new papers.

Analysts believe market activity could pick up due to the improving risk profile of the government, as Moody’s upgrade of Ghana’s local currency issuer ratings to Caa3 from Ca.

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