Trading of government bonds falls by 21.09% to ¢119.05m

Volume traded on the new Government of Ghana bonds fell by 21.09% week-on-week to ¢119.05 million last week.

This follows the completion of the Domestic Debt Exchange Programme.

According to the weekly market update, trading activity on GoG bonds dipped last week as aggregate volume traded retreated 21.09% week-on-week to ¢119.05 million.

The new bonds did not get much traction as they constituted 34% of market turnover.

The front end of the yield curve compressed by 90 basis points, with only the 2027 – 2030 maturities traded for the new bonds on the market.

Analysts believe the new bonds will continue to trade around par levels this week, with little activity expected on the market.

With interest rates falling, bond prices are expected to go up soon to boost market activity.

Source: Joy Business News