Secondary fixed income market in witnesses remarkable surge in trading activity reaching GHS 2.38bn
The secondary fixed-income market experienced a substantial surge in trading activity, reaching GH¢2.38 billion last week.
This uptick reflects a 4.7% week-on-week increase in trading volume. The driving force behind this surge in activity was a pronounced boost in transactions involving Government of Ghana (GoG) bonds.
Particularly striking was the remarkable 213.5% week-on-week increase in the value of bonds traded, which soared to GH¢1.26 billion.
Notably, the lion’s share of this increased volume was attributed to newly issued bonds, constituting a significant 53% of the total volume traded on the Ghana Fixed Income Market (GFIM) throughout the week.
Of special interest is the performance of the Feb-30 paper, featuring an 8.8% coupon rate.
This bond led the pack in terms of trading volume during the week and concluded the period with a price that represented nearly a 40% discount to its Face Value (FV).
