- GFIM Opens Week With GHS 3.33 Billion Turnover as DDEP Bonds Lead Activity
The Ghana Fixed Income Market opened the week with total turnover of GHS 3.33 billion on Monday, June 8, 2026, as activity in restructured government bonds dominated trading.
According to the GFIM trading report, total market volume stood at GHS 3.33 billion across 306 trades, with DDEP bonds accounting for the largest share of market activity.
DDEP bonds recorded GHS 1.95 billion in turnover from 79 trades, representing about 58.5 percent of total market activity for the day.
Treasury bills followed with GHS 1.21 billion traded across 209 transactions, accounting for about 36.5 percent of total turnover.
Sell-buy-back transactions involving Government of Ghana notes and bonds recorded GHS 166.29 million from 13 trades, while corporate bonds contributed GHS 2.06 million from five trades.
New Government of Ghana notes and bonds, as well as old Government of Ghana notes and bonds, recorded no trades during the session.
The day’s trading pattern suggests that investor activity remains concentrated in short-term instruments and selected restructured bonds, with the DDEP segment showing the strongest momentum.
Within the DDEP bond market, the largest traded instrument was the GOG-BD-13/02/29-A6145-1838-8.65, which recorded GHS 815.14 million in volume from 42 trades. The bond closed at a yield of 12.82 percent and an end-of-day closing price of 90.71.
The instrument’s dominance underlines renewed investor appetite for selected medium-term restructured securities, even as price discovery across the DDEP curve remains uneven.
The GOG-BD-12/02/30-A6146-1838-8.80 also recorded strong activity, with GHS 393.64 million traded from 24 transactions. It closed at a yield of 13.52 percent and a price of 86.58.
Other active DDEP instruments included the GOG-BD-07/02/34-A6150-1838-9.40, which recorded GHS 240 million in volume, and the GOG-BD-10/02/32-A6148-1838-9.10, which posted GHS 179.16 million.
The GOG-BD-11/02/31-A6147-1838-8.95 also recorded GHS 150 million in turnover, while the GOG-BD-15/02/28-A6144-1838-8.50 traded GHS 123.03 million.
The concentration of DDEP activity in selected maturities suggests investors are becoming more selective along the restructured bond curve, balancing yield, duration and liquidity considerations.
On the Treasury bills market, the largest traded instrument was the GOG-BL-17/05/27-A7039-2007-0, which recorded GHS 286.05 million from four trades. The bill closed at a yield of 10.41 percent and a price of 91.07.
The strong activity in Treasury bills reinforces the continued preference for short-dated government securities, even as yields remain relatively low compared with longer-dated instruments.
Treasury bills continue to offer investors liquidity, shorter maturity exposure and reinvestment flexibility at a time when market participants are still assessing inflation trends, monetary policy direction and government financing needs.
In the sell-buy-back segment, activity was led by the GOG-BD-10/02/32-A6148-1838-9.10, which recorded GHS 130 million in volume from three trades. The instrument posted a yield of 14.48 percent and a weighted average closing price of 79.56.
The sell-buy-back segment remains an important liquidity management tool for market participants, particularly in trading strategies involving Government of Ghana bonds.
Corporate bond activity remained thin, with total turnover of GHS 2.06 million. The most active corporate instrument was the CMB-BD-30/08/27-A6302-1675-13.00, which recorded GHS 1.94 million from four trades.
The low level of corporate bond trading reflects the continued dominance of government securities on the fixed income market and the relatively limited depth of Ghana’s corporate debt segment.
Overall, the June 8 session points to a market where liquidity is active but still highly concentrated.
DDEP bonds and Treasury bills accounted for almost all market turnover, showing that investor interest remains anchored in government-backed instruments.
The renewed activity in DDEP bonds is notable because it suggests that the secondary market for restructured securities is gradually gaining depth. However, the concentration of trades in a few instruments also shows that liquidity is not yet evenly spread across the curve.
For market watchers, the key signal from Monday’s trading is that investors are prepared to re-engage selected restructured bonds where yields and pricing appear attractive.
At the same time, the strong Treasury bill turnover shows that short-term instruments remain central to portfolio positioning.
The broader fixed income market therefore continues to reflect two investor instincts: the search for liquidity at the short end, and selective yield opportunities in the restructured bond market.
The coming sessions will show whether the strong DDEP activity recorded on Monday marks the beginning of deeper trading across the restructured curve or remains concentrated in a few preferred securities.
