Bond market: Total turnover upturned to GH¢1.14bn

The secondary bond market activity bounced back last week, as the total volume traded upturned to GH¢1.14 billion.

The upturn in market turnover was largely driven by sustained activity across the near-term maturities, which contributed 64% of aggregate turnover.

Additionally, investors continued to favour the 13-year bond (maturity: Feb-2036).

This drove the market at the tail of the Lower Currency (LCY) yield curve and contributed 25% of the total volume traded.

Analysts expect sustained activity at the front end of the LCY yield curve as most banks continue to find liquidity.

Also, they believe investor confidence will gradually continue to improve on the positive IMF review remark