Bond Market: Turnover soars by 13.14 percentage points on offshore investor boost

Last week, turnover in the secondary bond market surged to GH¢1.12 billion, up from GH¢991 million the previous week. Bonds in the general category accounted for 82% of the total volume traded.

The shorter end of the local currency yield (LCY) curve dominated the market, representing 49.44% of turnover. The yield to maturity (YTM) for these shorter-term bonds decreased from 24% to 23%. Meanwhile, the YTM for medium- and long-term maturities rose slightly, reaching 25.25% and 25.38%, respectively. These maturities made up 15.31% and 35.25% of the market turnover.

Analysts attribute the uptick in trading activity to increased participation from offshore investors returning to the market. They expect this trend to persist, further improving liquidity in the coming weeks.