Bond market: Trading activities surged 106% to GH¢1.14bn

Activities in the secondary bond market surged 106% week-on-week to GH¢1.14 billion, up from last week’s GH¢556 million.

This follows positive feedback from the US$370 million agreed under the International Monetary Fund’s staff-level agreement with the authorities.

General Category bonds continued to dominate volumes, with the February 2030 and February 2033 maturities accounting for 38% of total trades, yielding an average Yield-To-Maturity of 23.5%.

Overall, the short end of the LCY yield curve fell by 6% week-on-week to 53% of total trades, clearing at an average YTM of 23%.

The belly-to-tail end accounted for 47%, yielding 22%.

Analysts see recent activity driven by month-end bank rebalancing and rising investor confidence.

Near term, trading should remain modest as markets await the Finance Ministry’s revised medium-term debt strategy.