Bond market: Turnover declined by 28% to GH¢1.56bn
The secondary bond market activity slowed, with turnover declining 28.56% week-to-week to GH¢1.56 billion.
Trading remained concentrated in the 2031-2034 segment.
It accounted for 71.30% of turnover at an average yield of 13.93%.
The 2027-2030 segment contributed 23.05% at an average yield of 12.37%, while post-2035 maturities represented 5.65% of turnover at an average yield of 15.34%.
The new September 2030 bond recorded GH¢5.45 million in turnover at a weighted-average yield of 11.85%.
Databank Research expects the secondary bond activity to improve modestly this week, supported by month-end portfolio rebalancing by fund managers.
“However, we expect the upside to turnover to be capped as investors redirect some liquidity toward COCOBOD’s GH¢16.3bn issuance programme, with book building running from 28-29 September”, it added.
The offer comprises GH¢2.3 billion of 5-year senior unsecured amortising bonds and GH¢14.0 billion of 270-day commercial paper, with allotment on 30 September and issuance on 1 October 2026.
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