Trading activity on the Ghana Fixed Income Market rebounded strongly on Thursday, May 14, 2026, with total turnover climbing to GH¢1.50 billion across 326 trades as investors returned to Treasury bills, DDEP bonds and sell-buy-back transactions.
Market turnover closed at GH¢1,499.23 million, marking a significant improvement after slower trading sessions earlier in the week. The bulk of activity came from sell-buy-back transactions, which generated GH¢927.26 million from 69 trades, representing nearly 62 percent of total turnover.
Treasury bills remained active, recording GH¢404.64 million across 247 trades and accounting for about 27 percent of overall market activity. DDEP bonds contributed GH¢166.29 million from seven trades, while corporate bonds recorded a modest GH¢1.04 million across three trades.
No trades were recorded in either new Government of Ghana notes and bonds or old Government of Ghana notes and bonds during the session, highlighting the continued concentration of activity in shorter-term and liquidity-focused instruments.
Analysts say the dominance of sell-buy-back transactions reflects ongoing demand for liquidity management tools, with institutional investors relying on repo-style arrangements to manage funding needs and balance sheet positions.
The biggest transaction of the day came from the GOG-BD-10/02/32-A6148-1838-9.10 bond, which recorded GH¢696.70 million across 58 trades. The bond closed at a yield of 14.05 percent with a weighted average price of 80.8275.
Other major sell-buy-back deals included the GOG-BD-13/02/29-A6145-1838-8.65 bond, which traded GH¢80 million across three deals at a yield of 12.30 percent, and the GOG-BD-12/02/30-A6146-1838-8.80 bond, which posted GH¢70 million across two trades at a yield of 9 percent.
Within the DDEP segment, the GOG-BD-16/02/27-A6143-1838-8.35 bond dominated trading with GH¢166.25 million across six trades. The bond ended the session with a yield of 10.11 percent and a closing price of 98.7097, indicating continued investor interest in shorter-dated restructured securities.
Treasury bill trading also remained steady. The most actively traded bill was the GOG-BL-10/05/27-A7034-2006-0, which generated GH¢87.92 million across 12 trades. It closed at a yield of 10.1352 percent and a price of 90.8664.
Corporate bond activity, however, remained limited. The only significant trade came from CMB-BD-31/08/26-A6303-1675-13.00, which recorded GH¢1.04 million across three trades and closed at a price of 101.1815.
Thursday’s trading session suggests that while liquidity has improved, investors remain cautious and selective in their exposure. Most activity continues to favour short-term instruments, collateral-backed transactions and DDEP securities trading near par value.
The lack of activity in traditional government bonds also points to a market still hesitant about taking on longer-duration risk despite improving liquidity conditions.
Market watchers expect the next trading session to remain heavily focused on Treasury bills and sell-buy-back transactions as investors continue to monitor liquidity trends, yield movements and the Bank of Ghana’s monetary operations.
