The secondary bond market in Ghana experienced a robust resurgence last week, witnessing a substantial uptick in trading activity as transactions involving Government of Ghana (GoG) papers reached a notable ¢1.17 billion.
This marked an impressive 11.86% growth week-on-week, indicating a renewed investor interest in the country’s bond market.
The majority of trading activity, accounting for 78% of the total volume exchanged, occurred across the front end of the Local Currency Yield curve.
Market analysts anticipate sustained activity in the upcoming weeks, particularly across the shorter-dated bonds, as investors eagerly await the unveiling of the Government of Ghana’s budget for 2024.
The expectation is that a promising budget for the coming fiscal year could further stimulate trading, fostering a positive market environment.
The prospect of an impactful 2024 Budget has become a focal point for market participants, with the potential to influence investment decisions and market dynamics.
Investors are keenly watching for signals and insights from the budget that could shape their strategies and impact the trajectory of the bond market in the weeks ahead.