Tuesday, May 21

Bond Market Turnover Retreats by 52.94% Amid Shorter Trading Week

Market data indicates that the front end of the Local Currency (LCY) yield curve continued to dominate market activity, accounting for over 55% of the aggregate weekly turnover.

In contrast, the February 2036 papers at the tail of the LCY curve recorded only minor exchanges.

Ghana recently reached an International Monetary Fund (IMF) Staff-Level agreement on its second review, garnering positive remarks on key benchmarks and gradual economic progress.

Particularly noteworthy was the revelation that Ghana is on track to achieve a fiscal primary surplus of 0.5% of Gross Domestic Product (GDP) in 2024.

Analysts have hailed this development as positive for the bond market, as it helps to assuage concerns regarding the country’s fiscal position, especially in the context of an election year.

The agreement is expected to contribute to a more stable market sentiment, potentially bolstering investor confidence in Ghana’s bonds.

The bond market is closely watching for further developments, especially in light of Ghana’s upcoming elections and ongoing economic recovery efforts.