Bond market: Secondary market volume drops to GH¢886m

The secondary bond market activity slowed by 5.35% to GH¢886 million last week, down from GH¢1.21 billion in the previous week.

There were observed minor clips of trade across all tenors, alongside four repo transactions.

The February 2027 and February 2032 maturities accounted for 64.09% of the total volume traded, with average Yield-To-Maturities (YTM) of 24.31% and 27.20%, respectively.

Overall, maturities from 2027 to 2030 made up 45.74% of market activity, with an average YTM of 26.25%.

The 2031–2034 and 2035–2038 maturities contributed 53.88% and 0.38%, with an average YTM of 27.08% and 28.83% respectively.

With the recent settlement of GH¢888 million in cocoa bonds and US$11.5 million in coupon payments on local US  bonds, analysts expect trading activity to ramp up in the coming days, with major trading activities likely concentrated at the shorter end of the LCY curve.