Bond market: Trading activity bounces back; ¢388.91m value traded
Trading activity on the bond market bounced back last week, as the total value traded shot up by 34% to ¢388.91 million.
According to the market data, activity in the new bonds also regained momentum on the back of ¢265.88 million volume traded across the 2027-2037 segments.
The short-term instruments contributed 94.71% of the total market turnover.
The Executive Board of the IMF board approved Ghana’s $3 billion Extended Credit Facility, paving the way for the arrival of $600 million in the first tranche.
Therefore, analysts are optimistic about trading activity on the secondary bond market, which could enhance Ghana’s economic outlook and improve investor confidence.
Again, the programme could catalyse funding from other international sources.
Meanwhile, there was an aggregate turnover of ¢1.24 billion across bills and bonds last week, with bills accounting for almost 70% of the total trade.