Bond market: Turnover falls by 68% to GH¢2.12bn

The bond market in Ghana experienced a significant downturn in turnover, falling by 68.28% week-on-week to GH¢2.12 billion, according to a report by Joy Business. The secondary market activity weakened, with trading remaining concentrated in the belly of the curve, with maturities ranging from 2031 to 2034 accounting for 74.22% of the turnover at a weighted average yield of 14.39%.

The 2027-2030 segment contributed 18.72% to the turnover at an average yield of 13.47%, while post-2035 maturities accounted for 7.06% of the turnover at an average yield of 14.72%. In the primary market, a new four-year bond maturing in September 2030 attracted GH¢4.46 billion in bids, with GH¢3.15 billion accepted at a clearing yield of 12.00%.

The issuance of this bond was strategically timed to capitalize on improved liquidity from the GH¢2.3 billion COCOBOD DDEP payment and GH¢5.82 billion in unallocated bids from the 31 August treasury bill auction, contributing to the decline in secondary-market turnover.

Brief written by urgent.news from Joy Business's own syndicated text. Machine-written — may contain errors; check the original before relying on it.