So, trading on the secondary bond market kinda slowed down last week dropped by 12.2%, actually. Total volumes landed at GH¢1.16 billion, which, hey, is nothing to sneeze at, but still lower than before.
Funny thing though, prices didn’t exactly tank. There were some small wins in the General Category bonds. Nothing earth-shattering, but not a total snooze fest either.
Short-term bonds? Yeah, those were carrying almost half the action about 49% of the trade. People love their quick paybacks, I guess. The average yield to maturity slid down by 145 basis points, sitting at 20.63%. Not a wild swing, but enough to make some folks raise an eyebrow.
Meanwhile, the mid-to-longer term stuff (the "belly and tail" finance lingo is wild, right?) took up the other 51%. Their yields closed a smidge lower at 20.44%. So, not a massive gap, but still, a difference.
Databank Research is feeling pretty upbeat about where prices are headed. They're betting on things tightening up soon, thanks to fresh cash from the World Bank and that juicy coupon payment coming up in August 2025.