- Treasury Bills Lead Trade Count as GFIM Records GHS 2.24 Billion Turnover
Trading activity on the Ghana Fixed Income Market closed at GHS 2.24 billion on Wednesday, June 10, 2026, as DDEP bonds continued to dominate market turnover.
According to the daily trading report, total market volume stood at GHS 2.24 billion across 356 trades.
DDEP bonds accounted for the largest share of activity, recording GHS 1.46 billion from 78 trades. This represented 65.35 percent of total market turnover.
Treasury bills followed with GHS 744.77 million across 273 trades, accounting for 33.25 percent of total market activity.
Sell-buy-back trades in Government of Ghana bonds contributed GHS 31.28 million from five trades, representing 1.40 percent of the day’s turnover.
There were no trades in new Government of Ghana notes and bonds, old Government of Ghana notes and bonds, or corporate bonds.
The session again showed the continued concentration of liquidity in sovereign instruments, particularly restructured government bonds and short-term Treasury securities.
The largest DDEP bond traded was the GOG-BD-10/02/32-A6148-1838-9.10, which recorded GHS 312.00 million across four trades. The bond closed at a yield of 13.97 percent and an end-of-day closing price of 81.28.
It was followed by the GOG-BD-13/02/29-A6145-1838-8.65, which recorded GHS 287.82 million from nine trades, closing at a yield of 12.86 percent and price of 90.64.
The GOG-BD-07/02/34-A6150-1838-9.40 also saw strong activity, trading GHS 250.00 million across two trades. It closed at a yield of 14.65 percent and price of 76.21.
Other notable DDEP trades included the GOG-BD-11/02/31-A6147-1838-8.95, which recorded GHS 164.76 million, and the GOG-BD-16/02/27-A6143-1838-8.35, which traded GHS 160.95 million.
In the Treasury bill segment, the largest volume was recorded by the GOG-BL-01/02/27-A6964-1992-0, which traded GHS 224.79 million across three trades. It closed at a yield of 8.36 percent and price of 94.86.
The GOG-BL-01/03/27-A6984-1996-0 followed with GHS 81.15 million across 10 trades, closing at a yield of 9.02 percent and price of 93.86.
The GOG-BL-18/01/27-A6954-1990-0 recorded GHS 80.70 million across 12 trades, closing at a yield of 8.03 percent and price of 95.33.
Other active Treasury instruments included the GOG-BL-30/11/26-A6919-1983-0, which recorded GHS 74.18 million, and the GOG-BL-17/05/27-A7039-2007-0, which recorded GHS 70.37 million.
In the sell-buy-back segment, the GOG-BD-15/08/28-A6140-1838-10.00 led activity with GHS 19.28 million across three trades. The security traded at a yield of 11.77 percent and a weighted average closing price of 96.64.
The GOG-BD-10/02/32-A6148-1838-9.10 recorded GHS 10.00 million in one trade, while the GOG-BD-17/08/27-A6139-1838-10.00 recorded GHS 2.00 million in one trade.
Although DDEP bonds led the market by value, Treasury bills dominated by number of transactions, accounting for 76.69 percent of all trades executed during the session.
DDEP bonds accounted for 21.91 percent of trade count, while sell-buy-back transactions represented 1.40 percent.
The absence of corporate bond trades reinforces the continued thinness of private-sector debt activity on the GFIM.
While the market remains active, liquidity continues to be heavily concentrated in Government of Ghana-backed instruments, leaving corporate securities with limited secondary market activity.
For investors, the day’s trading pattern points to continued demand for DDEP bonds as portfolio managers search for yield opportunities across the medium and long end of the curve.
Treasury bills, meanwhile, remain important for short-term liquidity positioning and continue to generate the highest number of transactions.
For government and market regulators, the sustained activity in DDEP bonds is important for price discovery and secondary market liquidity after the domestic debt restructuring.
However, the broader market still faces the challenge of deepening corporate bond participation and diversifying fixed income activity beyond sovereign instruments.
Overall, Wednesday’s session showed a fixed income market still shaped by sovereign debt, with DDEP bonds driving value and Treasury bills driving transaction count.
The key market signal is clear: investor appetite remains active, but liquidity remains concentrated in a narrow set of government securities.
