Fitch Ratings has enumerated factors that could, individually or collectively, lead to negative rating action or downgrade for Ghana. This is coming after it upgraded Ghana’s credit rating to B- and a stable outlook. The factors include renewed liquidity pressures, due for example to smaller fiscal consolidation or the materialisationContinue Reading
Ghana, which defaulted three years ago, is on track to hand investors the best dollar-bond returns in emerging markets in May, amid mounting confidence in the government’s handling of the economy. Dollar-denominated bonds for the gold and cocoa producing country delivered 8.7% in total returns this month, according to dataContinue Reading
Trade activity in the secondary bond market remained modest amid banks’ end-of-month rebalancing. Activity was spread across all tenors. The February 2027 and Aug 2027 led the activity, accounting for 44% of trades at an average Yield-To-Maturity (YTM) of 20.9%. Overall, the shorter end of the LCY curve contributed 60%Continue Reading
Activities in the secondary bond market picked up by 25.14% week-on-week, with volumes rising from GH¢1.23 billion to GHS 1.41 billion. The February 2027 led trading, accounting for 31% of total volumes and clearing at an average Yield-To-Maturity (YTM) of 20%. Overall, the shorter end of the LCY curve contributedContinue Reading
Activity in the secondary bond market declined by 2.67% week-on-week to GH¢1.23 billion. This is down from GH¢1.26 billion. Trading remained concentrated in the General Category bonds, with prices on the February 2027 maturity firming into the low-80 price range and clearing at an average yield of 20%. The 2027–2030Continue Reading
Trade activity in the secondary bond market edged up 0.52% week-on-week to GH¢1.15 billion, from last week’s GH¢1.14 billion. This was supported by month-end rebalancing and improving sentiment. Activity was broadly spread across the LCY curve, with the August 2027 and February 2036 papers driving 39% of total volumes. TheContinue Reading
The Secondary bond market activity decreased sharply by 51.67% week-on-week, down GH¢483 million from GH¢999 million the previous week. This was primarily due to the Islamic holidays. Trade in the general category of maturities was modest, with the February 2030 maturity leading at an average yield to maturity (YTM) ofContinue Reading
Activities in the secondary bond market picked up by 10.22% week-on-week to GH¢999 million last week from GH¢907 million. The February 2027 and February 2031 maturities accounted for 49% of total volumes traded. Overall, bonds maturing between 2027 and 2030 dominated, capturing 54% of trades at an average yield toContinue Reading