The secondary bond market liquidity remained modest, with turnover edging up 0.35% week-on-week to GH¢1.59 billion.
Trading activity was heavily skewed toward the February 2027 benchmark, as volumes surged 57.7% week-on-week to GH¢824.61mn.
Investor demand remained firmly anchored in the 2027-2030 segment, capturing 70.2% of volumes traded at a weighted-average yield of 15.06%.
Activity in the 2031-2034 segment was more measured, representing 21.3% of turnover at a weighted-average yield of 15.69%.
The 2035-2038 tenors saw limited activity, accounting for 8.6% of total volumes, clearing at a weighted-average yield of 16.08%.
“We expect renewed interest in the bond market as the Ministry of Finance advances plans to issue Ghana’s first domestic infrastructure bond, targeting GH¢10 billion in two tranches of GH¢5 bilion, with the initial issuance expected in the first half of the year”, said Databank Research.
The issuance should broaden the range of local investment options.
“Going forward, the release of the domestic debt calendar and guidance from the upcoming MPC [Monetary Policy Committee] meeting should provide clearer direction for investor positioning and demand”, it concluded.
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Source: www.myjoyonline.com
