Ghana: Bond Market Sees Increase in Total Turnover

19 July 2023
Ghanaian Times (Accra)

Trading activities on the Ghana secondary bond market recorded a recovery last week as the new bonds recorded major trades in the 4th and 5th sessions.

The total face value traded surged to ¢175.90 million, approximately 31.30%.

This was underpinned by a 42.08 per cent increase in transactions across the new bonds.

According to the trading activities, the average yield for the 2027-2030 maturities increased by 182 basis points, closing at 13.35 per cent.

Additionally, the 2031-2033 and 2034-2038 papers' average yields climbed to 13.68 per cent and 13.82 per cent respectively.

Analysts believe market activity will remain lively this week, with investors pricing near-term inflation risk into bond yields while waiting on the Monetary Policy Committee's response to inflation data. --Myjoyonline.com

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