Market turnover on new government bonds rises 14.85% to ¢150.86m
Market activity on the Government of Ghana (GoG) bonds rebounded last week after a slump in the previous week.
The market recorded only trades in the new bonds, and total volume traded rose 14.85% to ¢150.86 million.
The yield curve shifted downward as the new bonds traded around par levels.
Yields on the 2027-2030 and 2031-2034 maturities declined by 228 basis points (2.28%) on average, while the 2035-2038 maturities saw an average yield decline of 115 basis points (1.15%).
Analysts believe interest in the new bonds will continue to build up as the work on incorporating the payment-in-kind component of the new Government bonds onto Bloomberg and Central Securities Depository continues.
Meanwhile, money market yields declined across tenors, with the 91- day and the 364-day at 20.00% and 22.85%, respectively.
The resumption of debt service on domestic bonds will boost liquidity and support corporate issuers.