Secondary Bond Market Turnover Surges 54% to GHS 2.47bn on Strong Investor Demand
Activity on the secondary bond market strengthened further this week, with total turnover climbing 54.21% week-on-week to GH¢2.47 billion, reflecting sustained investor appetite and improved liquidity conditions.
Trading remained heavily skewed toward the February 2029 bond, which led market activity with GH¢815.94 million in executed trades.
2027–2030 papers dominate activity
The 2027–2030 segment continued to serve as the market’s anchor, accounting for 87.6% of total turnover at a weighted-average yield of 14.54%. The segment’s depth and liquidity maintained its appeal for both institutional and offshore investors.
Bonds maturing between 2031 and 2034 recorded modest activity, contributing 12.4% of trades at a weighted-average yield of 15.11%.
In contrast, trading across the 2035–2038 tenors remained largely muted, consistent with recent patterns of investor caution toward the longer end of the curve.
Positive sentiment to persist
Market analysts attributed the robust performance to strengthened liquidity and persistent investor engagement across the mid-segment of the curve.
“Looking ahead, we anticipate the positive market sentiment to persist, with investors likely to stay positioned in maturities that offer both liquidity and attractive risk-reward dynamics,” Databank noted.
The improved market activity aligns with expectations of continued stability in yields as investors prioritise liquid, near- to mid-term maturities.
