Bond Market Turnover Declines by 36.7% as Investors Await Fiscal Direction

Bond Market Turnover Declines by 36.7% as Investors Await Fiscal Direction

Ghana’s secondary bond market witnessed a notable decline in trading activity last week, as total turnover fell by 36.73% week-on-week to GH¢1.54 billion, down from GH¢2.43 billion recorded the previous week.

According to market data, trading activity was largely concentrated in the February 2030 maturity, which led overall flows with GH¢464.80 million in volumes traded.

The 2027–2030 bonds continued to dominate market performance, accounting for 71.20% of total traded volumes at a weighted average yield of 15.30%. Meanwhile, the 2031–2038 maturities contributed 29% of volumes traded, recording a slightly higher weighted average yield of 15.93%.

Market analysts at Databank Research noted that investor activity is likely to pick up slightly as portfolio managers rebalance ahead of month-end.

“We anticipate a modest uptick in market activity as asset managers rebalance portfolios ahead of month-end,” the report stated.

Despite this outlook, trading sentiment is expected to remain cautious as investors await fiscal policy guidance from the forthcoming 2026 Budget presentation, which is expected to outline government’s next steps in debt management, expenditure control, and macroeconomic stability.

Source: Accra Business News

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