Trading activity witnessed a significant improvement on the secondary bond market last week, with week-on-week turnover surging sharply by 48.47% to GH¢1.24 billion.
The focal point of trading activity was at the belly of the LCY yield curve, where the February 2033 (Coupon: 9.25%) and February 2034 (Coupon: 9.40%) papers jointly contributed to more than half of the aggregate market turnover.
Across the board, bond yields experienced an increase, with the average Yield-To-Maturity on the 2027-2030 papers rising to 17.36%, and the 2035-2038 advancing to 12.8%.
Analysts anticipate a continued improvement in investor sentiments in the bond market, driven by the International Monetary Fund’s board approval for the first review of Ghana’s program, signaling the country’s commitment to restoring macroeconomic stability.
Furthermore, the approval of $300 million in budgetary support by the World Bank is expected to enhance investor confidence.