Bond market: Trade volumes dip to GH¢574m

The secondary bond market experienced a notable slowdown last week, with trading volumes declining by 48.87% to GH¢574 million, down from the previous week’s GH¢1.12 billion.

Market activity was spread across the local currency yield (LCY) curve, with the February 2027 bond emerging as the most traded security. Its average yield to maturity (YTM) increased to 25.6%, up from 23.4%.

A significant portion of trading, approximately 76.12%, was concentrated at the shorter end of the LCY curve, which ended the week with an average YTM of 23.3%. The middle and longer sections of the curve accounted for 23.88% of transactions, with average YTMs rising to 25.32% and 25.33%, respectively, on a weekly basis.

Experts foresee a continued slowdown in trading activity this week, with attention expected to remain on the very short end of the LCY curve. Both domestic and foreign investors are anticipated to approach the market cautiously, focusing on elevated yield opportunities while maintaining a selective strategy.