Big week for bonds as turnover shoots up over 500%
Secondary market activity recorded a strong rebound over the week, with total turnover rising by 559.42% week-on-week to GH¢2.49 billion, up from GH¢377.59 million.
Activity was largely concentrated in the mid-section of the yield curve, as instruments within the 2031–2034 maturities accounted for 64.13% of total traded volumes at a weighted average yield of 12.51%.
The 2027–2030 tenor bucket followed, contributing 35.87% of overall turnover at a weighted average yield of 10.98%.
Meanwhile, the longer-dated 2035–2038 maturities recorded no trades during the period, reflecting continued weak investor appetite for longer-duration securities.
Databank Research noted a relatively modest uptake at the 7-year bond auction (2033 maturity), where GH¢3.15 billion in bids was submitted, with GH¢2.78 billion accepted at a coupon rate of 12.50%, ahead of settlement on April 7, 2026.
“In our view, participation was constrained by the offered pricing, suggesting cautious investor appetite. We therefore expect secondary market activity to remain subdued in the near term, as investors reassess pricing and positioning,” the firm stated.
