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# gfx brokers

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## Posts

- [insights](https://www.gfxbrokers.com/insights/)
- [Ghana Navigates Tightrope in Eurobond Debt Restructuring](https://www.gfxbrokers.com/ghana-navigates-tightrope-in-eurobond-debt-restructuring/) - Francis Kyei, Senior Market Analyst, Ghana, constrained by previous creditor agreements, faces critical negotiations with Eurobond holders as it seeks major cuts. The country aims for substantial concessions from bondholders, amidst concerns of a potential standoff similar to Zambia's recent experience. Ghana is embroiled in a challenging negotiation with its Eurobond holders, with a limited
- [IMF Approves Crucial $684.7 Million Loan to Kenya Amidst Fiscal Challenges](https://www.gfxbrokers.com/imf-approves-crucial-684-7-million-loan-to-kenya-amidst-fiscal-challenges/) - The IMF has approved a significant financial boost for Kenya, with an immediate disbursement of $684 million, as part of a larger $941 million lending package
- [Ghana Achieves Four-Year Interest Freeze in Bilateral Debt Agreement with Official Creditor Committee](https://www.gfxbrokers.com/ghana-achieves-four-year-interest-freeze-in-bilateral-debt-agreement-with-official-creditor-committee/) - The Executive Board of the International Monetary Fund (IMF) is scheduled to assess Ghana's IMF program this Friday, January 19.
- [Ghana Receives Debt-Relief Terms; IMF Optimistic About $600M Disbursement](https://www.gfxbrokers.com/ghana-receives-debt-relief-terms-imf-optimistic-about-600m-disbursement/) - Francis Kyei, Senior Market Analyst Ghana has secured debt-relief terms from its bilateral creditors, resulting in a positive outlook from the IMF for a second tranche of $600 million. The IMF is optimistic for Ghana's negotiations with its creditors, yet there is rising criticism surrounding the IMF agreement. The success of the restructuring process is
- [Ecobank Transnational Inc (Investment Analysis)](https://www.gfxbrokers.com/ecobank-transnational-inc-investment-analysis/) - Francis Kyei, Senior Market Analyst Introduction This report provides an overview of Ecobank Transnational Incorporated's (ETI) financial performance for the first nine months of 2023, highlighting key strengths and areas of concern. It provides insights into the bank's ability to generate revenue, maintain financial stability, and navigate challenges. The analysis covers key financial metrics, comparative
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-151/) - Oil prices rose on Friday, on track to notch their first weekly rise in two months after benefiting from a bullish forecast from the International Energy Agency (IEA) on oil demand for next year and a weaker dollar. Brent futures rose 21 cents to $76.82 a barrel at 0640 GMT. U.S. West Texas Intermediate (WTI)
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-150/) - Asian markets saw oil prices increase on Thursday, building on previous gains, as U.S. crude inventories reported a larger-than-expected weekly drop and the U.S. Federal Reserve signaled lower borrowing costs in 2024, boosting demand prospects. Brent futures settled at $74.49 a barrel by 0345 GMT, up 23 cents, or 0.31%. U.S. West Texas Intermediate (WTI)
- [<strong>Ghana Explores Green Bonds for Climate-Resilient Projects</strong>](https://www.gfxbrokers.com/ghana-explores-green-bonds-for-climate-resilient-projects/) - The Ghanaian government, inspired by Zambia’s renewable energy funding, is considering green bonds to finance climate-resilient projects. Ghana is actively developing projects to produce and export carbon credits, with a Carbon Market office established to manage sales. Aiming for $50 million in carbon revenue by 2024, Ghana plans to reduce over 64 million tons of
- [Ghana’s Debt Deal Stalled by China-Paris Club<br>Rift, IMF Funds on Hold](https://www.gfxbrokers.com/ghanas-debt-deal-stalled-by-china-paris-clubrift-imf-funds-on-hold/) - Francis Kyei, Senior Market Analyst, GFX Brokers China and the Official Creditor Committee, including the Paris Club, are stalling Ghana's access to $600 million from the IMF's Extended Credit Facility. The key issue in debt restructuring negotiations is the cut-off date, with the Paris Club favouring pre-March 2020 projects and China advocating for a later
- [SSA Market Commentary](https://www.gfxbrokers.com/ssa-market-commentary-3/) - Oil prices extended losses on Wednesday in Asian trade, after falling by more than 3% to six-month lows in the previous session on oversupply and demand concerns. Brent crude futures for February fell 33 cents, or 0.45%, to $72.91 a barrel by 0621 GMT. U.S. West Texas Intermediate crude futures for January dropped 29 cents,
- [Bank of Ghana Governor Calms Fears Amidst<br>External Debt Restructuring Delays](https://www.gfxbrokers.com/bank-of-ghana-governor-calms-fears-amidstexternal-debt-restructuring-delays/) - Francis Kyei, Senior Market Analyst, GFX Brokers Bank of Ghana Governor, Ernest Addison, reassures stakeholders amidst delays in Ghana's debt restructuring, expressing optimism for a deal by year-end. Concerns arise from Zambia's debt restructuring challenges, but Governor Addison reassures that Ghana does not foresee similar difficulties. Ghana is financially equipped to navigate potential delays, with
- [Kenya Charts Debt Management Course After<br>Settling $2 Billion Eurobond](https://www.gfxbrokers.com/kenya-charts-debt-management-course-aftersettling-2-billion-eurobond/) - Francis Kyei, Senior Market Analyst, GFX Prime As Kenya prepares to pay off the $2 billion Eurobond due next year, the Kenyan government has devised a plan to address its public debt concerns and lay the groundwork for a more sustainable fiscal future. The government’s strategy involves borrowing concessional funds from multilateral partners at lower
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-149/) - Oil prices fell on Monday, erasing gains from Friday as renewed concerns over waning demand in the United States and China, coupled with mixed signals from the U.S. Federal Reserve, dented market sentiment. Brent crude futures for January were down 61 cents, or 0.75%, at $80.82 a barrel at 0800 GMT, while the U.S. West
- [Kenya to Begin Repayment of $2 Billion<br>Eurobond Debt in December 2023](https://www.gfxbrokers.com/kenya-to-begin-repayment-of-2-billioneurobond-debt-in-december-2023/) - Francis Kyei, Senior Market Analyst, GFX Prime Kenya is preparing to address its $2 billion Eurobond debt, with the first installment of $300 million due in December 2023. President William Ruto highlighted the support of bilateral and multilateral development banks and agencies in overcoming the debt challenge and making the initial payment. Kenya's strategy involves
- [<strong>Nigeria’s Ambitious Borrowing Plans for 2024: Balancing Act or Cause for Concern?</strong>](https://www.gfxbrokers.com/nigerias-ambitious-borrowing-plans-for-2024-balancing-act-or-cause-for-concern/) - Francis Kyei, Senior Market Analyst, GFX Prime Nigeria's current administration is planning a substantial borrowing spree in 2024, following in the footsteps of its predecessor. Nigeria's foreign debt has already increased significantly from $10.3 billion in 2015 to $43.2 billion by June 2023, and the government aims to add $8 billion to the external debt
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-148/) - After hitting four-month lows, oil prices rebounded on Thursday due to fears of a global crude demand slowdown. Brent oil futures were $80.16 a barrel, while West Texas Intermediate crude futures were $75.82 a barrel by 08:49 GMT. KENYA: Bear Market Boosts Bank Dividend Yields to Double DigitsNSE's extended bear run lifts Standard Chartered Bank
- [<strong>Kenya Prioritises Concessional Financing for Maturing 2024 Eurobond</strong>](https://www.gfxbrokers.com/kenya-prioritises-concessional-financing-for-maturing-2024-eurobond/) - Francis Kyei, Senior Market Analyst, GFX Prime Kenya is taking steps to reassure investors regarding its maturing 2024 Eurobond. The government is emphasising concessional financing and considering an augmentation of its IMF loan programme to potentially secure more financial resources. Kenya is actively engaging with the IMF and the World Bank, expecting around $400 million
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-147/) - Oil Prices showed resilience despite concerns over demand. Global oil prices, including Brent crude and U.S. crude, remained steady after hitting their lowest levels since July 24. Waning demand from top consumers like the U.S. and China continues to weigh on market sentiment. Brent Crude Held at $81.76, US Crude at $77.35 at 06:36 GMT.
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-146/) - Oil prices slipped by 1% on Tuesday, erasing most of Monday's gains, as mixed economic data from the world's second largest oil consumer China and winter demand worries offset the impact of Saudi Arabia and Russia extending output cuts. Brent crude futures slipped 92 cents, or 1.08%, to $84.26 a barrel by 0714 GMT, recovering
- [ssa market commentary](https://www.gfxbrokers.com/ssa-market-commentary-2/) - Oil prices rose on Monday after top exporters Saudi Arabia and Russia reaffirmed their commitment to extra voluntary oil supply cuts until the end of the year. Brent crude futures rose $1.03, or 1.21%, to $85.92 a barrel by 0834 GMT, while U.S. West Texas Intermediate crude was at $81.58 a barrel, up $1.07, or
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-145/) - Oil gained 1% on Thursday to snap its three-day decline, as risk appetite returned to financial markets after the U.S. Federal Reserve kept benchmark interest rates on hold. Brent crude futures rose 82 cents, or 1%, to $85.45 a barrel by 0657 GMT, while U.S. West Texas Intermediate crude futures advanced 83 cents, also 1%,
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-144/) - Oil prices slipped more than 1% on Monday as investors adopted caution ahead of a U.S. Federal Reserve policy meeting and China's manufacturing data due this week, offsetting support from tension in the Middle East. Brent crude futures dropped 1%, or 97 cents, to $89.51 a barrel by 0718 GMT, while U.S. West Texas Intermediate
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-143/) - Oil fell for a fourth day on Wednesday as concerns about slowing European demand offset worries about Middle East supply disruptions stemming from the Israel-Hamas conflict in Gaza. Brent crude futures dropped 28 cents, or 0.3%, to $87.79 a barrel as of 0627 GMT, while U.S. West Texas Intermediate crude futures were down 31 cents,
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-142/) - Oil prices surged on Wednesday as tension escalated in the Middle East after hundreds were killed in a blast at a Gaza hospital, sparking concerns about potential oil supply disruptions from the region. Brent crude futures advanced $1.75, or 2%, to $91.65 a barrel at 0609 GMT. West Texas Intermediate crude (WTI) futures were up
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-141/) - Oil prices steadied on Tuesday after a more than $1 slide on Monday amid hopes the U.S. would ease sanctions on producer Venezuela and as Washington stepped up efforts to prevent an escalation of the war between Israel and Hamas. Brent crude futures were up 16 cents at $89.81 a barrel, while U.S. West Texas
- [<strong>Kenya’s Mining Sector Reform Promises Economic Boost and Opportunities</strong>](https://www.gfxbrokers.com/kenyas-mining-sector-reform-promises-economic-boost-and-opportunities/) - Kenya reforms mining to attract investment, boost GDP contribution from 1% to 10%, creating opportunities for investors and economic growth.
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-140/) - Oil prices fell for a third day on Thursday, dragged down by a larger-than-expected crude and gasoline stock build in the U.S. and easing supply concerns. Brent futures fell 43 cents, or 0.50%, to $85.39 a barrel at 0623 GMT, while U.S. West Texas Intermediate crude retreated 53 cents, or 0.63%, to $82.96 a barrel.
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-139/) - Oil prices eased on Tuesday after rallying more than 4% in the previous session, with traders cautious as they watched for potential supply disruptions amid military clashes between Israel and the Palestinian Islamist group Hamas. Brent crude fell 56 cents, or 0.6%, to $87.59 a barrel by 0630 GMT, while U.S. West Texas Intermediate crude
- [market commentary](https://www.gfxbrokers.com/market-commentary-138/) - Oil prices remained steady, with Brent December crude futures up 0.18% at $92.37 a barrel, and U.S. West Texas Intermediate crude futures gaining 0.29% to reach $91.05 a barrel at 08:02 GMT. Despite last week's losses, the focus returned to global supply constraints. A last-minute deal to avoid a U.S. government shutdown also helped restore
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-137/) - Oil prices slipped on Friday but were headed for a gain of 2% for the week driven by tight U.S. supply and expectations of strong fuel demand in China during the Golden Week holiday. Brent December futures fell 14 cents to $92.96 per barrel at 0620 GMT, while U.S. West Texas Intermediate crude (WTI) slipped
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-136/) - U.S. oil futures jumped to their highest in more than a year on Thursday as a drop in crude stocks in the United States added to worries over tight global supplies from OPEC+ output cuts. U.S. West Texas Intermediate crude futures (WTI) were up 85 cents at $94.53 a barrel by 0649 GMT, after rising
- [Market commentary](https://www.gfxbrokers.com/market-commentary-135/) - Oil prices fell on Tuesday amid concerns that fuel demand will be crimped by major central banks holding interest rates higher for longer, even with supply expected to be tight. Brent crude futures were down 87 cents at $92.42 a barrel at 0630 GMT, while U.S. West Texas Intermediate crude futures were trading 87 cents
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-134/) - Oil prices rose for a third straight session on Monday, buoyed by forecasts of a widening supply deficit in the fourth quarter after Saudi Arabia and Russia extended cuts and by optimism about a recovery in demand in China. Brent crude futures rose 71 cents, or 0.8%, to $94.64 a barrel by 0622 GMT while
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-133/) - Oil extended losses on Friday, further receding from this week's 10-month highs, as fears about the health of China's slowing economy and a stronger U.S. dollar wiped out the gains triggered by supply cuts from major producers Saudi Arabia and Russia. Brent crude futures dropped 41 cents, or 0.5%, to $89.51 a barrel by 0619
- [<strong>Ghana’s Mining Industry at Risk as Growth and Sustainability Levy Sparks Controversy</strong>](https://www.gfxbrokers.com/ghanas-mining-industry-at-risk-as-growth-and-sustainability-levy-sparks-controversy/) - Controversial Growth and Sustainability Levy threatens Ghana's mining industry, risking growth targets, GDP contribution, and causing investor unease.
- [market commentary](https://www.gfxbrokers.com/market-commentary-132/) - Oil Prices Ease, Africa Secures $23 in Climate Financing, Nigeria Court Dismisses Petitions, Ghana Stock Exchange Soars, Egypt to Issue $500M Samurai Bonds"
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-131/) - Oil prices were stable on Monday, amid expectations that major producers would keep supplies tight, as hopes grew for the Federal Reserve to leave interest rates unchanged to avoid dampening the U.S. economy. Brent crude futures for November traded down 3 cents at $88.52 a barrel by 0648 GMT. U.S. West Texas Intermediate crude (WTI)
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-130/) - Oil prices were set to snap a two-week losing streak as they rose for a fourth consecutive session on Friday due to tightening supplies and expectations that the OPEC+ group of oil producers would extend output cuts to the end of the year. The U.S. West Texas Intermediate crude (WTI) was up 21 cents, or
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-129/) - Oil prices eased on Thursday after data showed China's manufacturing activity shrank for the fifth month in a row, and as investors cautiously awaited a U.S. personal consumption expenditure report later in the day for any clues on the interest rate outlook. Brent crude futures for October, which expire on Thursday, dipped 9 cents, or
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-128/) - Oil prices slipped on Tuesday as worries that further possible U.S. interest rate hikes could pull down demand outweighed concerns that a tropical storm off the U.S. Gulf Coast may impact supply. Brent crude was down 19 cents, or 0.2%, at $84.23 a barrel by 0640 GMT, while U.S. West Texas Intermediate crude shed 24
- [Ecobank Transnational Inc. (Investment Analysis Report (H1, 2023)](https://www.gfxbrokers.com/ecobank-transnational-inc-investment-analysis-report-h1-2023/) - This report delves into ETI's financial performance for H1, 2023. It offers insights into the company's revenue growth, cost management, and performance
- [<strong>Concerns Mount Over Nigeria's Economic Stability</strong>](https://www.gfxbrokers.com/concerns-mount-over-nigerias-economic-stability/) - Nigeria's GDP reveals intricate economy: rising debt, slow oil, growth hurdles. High debt surpasses Q2 23 GDP, risking stability. Non-oil sectors drove growth
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-127/) - Oil prices ticked higher on Monday after China took steps to support its flagging economy, though investors remained worried about the pace of growth as well as further U.S. interest rate hikes that could dampen fuel demand. Brent crude rose 19 cents, or 0.2%, to $84.67 a barrel by 0627 GMT, while U.S. West Texas
- [market commentary](https://www.gfxbrokers.com/market-commentary-126/) - Oil was headed for a second week of declines even as it rose on Friday, as the dollar firmed before a speech by Federal Reserve Chair Jerome Powell while concerns over tight supply eased. Brent crude rose 39 cents, or 0.5%, to $83.75 a barrel by 0624 GMT, while U.S. West Texas Intermediate crude was
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-125/) - Oil prices eased on Thursday amid disappointing economic data from key economies and as investors await a speech by U.S. Federal Reserve Chair Jerome Powell on Friday for clues on interest rates. Brent crude fell 19 cents, or 0.2%, to $83.02 a barrel by 0619 GMT, while U.S. West Texas Intermediate crude dropped 24 cents,
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-124/) - Oil prices experienced a decline on Wednesday due to trader caution in anticipation of potentially unfavourable manufacturing data and the annual Jackson Hole meeting. This event will host influential central bankers, including representatives from the United States, discussing matters of interest rates. At 0738 GMT, Brent crude saw a decrease of 51 cents, settling at
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-123/) - Oil prices rose on Monday as global supply is tightening with lower exports from Saudi Arabia and Russia, offsetting nagging concerns about global demand growth amid high interest rates. Brent crude climbed 61 cents to $85.41 a barrel by 0649 GMT, while U.S. West Texas Intermediate crude was at $81.88 a barrel, up 63 cents.
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-122/) - Oil Prices Stall, Kenyan Banks Raise Rates, Egypt Extends CBE Governor's Mandate, Nigerian Credit Surge, Ghana's Central Bank Defends Government Financing
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-121/) - Oil prices edged down on Wednesday, extending a 1% drop in the previous session, as worries about China's struggling economy outweighed declining U.S. stockpiles. Brent crude futures slipped 38 cents to $84.51 a barrel by 0456 GMT, while U.S. West Texas Intermediate crude (WTI) declined 35 cents to $80.64 a barrel. Both benchmarks had weakened
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-120/) - Oil prices declined more than 1% on Monday as concerns about China's faltering economic recovery and a stronger dollar weighed against seven weeks of gains on tightening supply from OPEC+ output cuts. Brent crude futures fell $1.07, or 1.2%, to $85.74 a barrel by 0631 GMT while U.S. West Texas Intermediate crude was at $82.12
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-119/) - Oil prices fell marginally on Friday as investors weighed optimistic demand forecasts from the OPEC producer group against mixed economic data in top importer China. Brent crude fell 15 cents to $86.25 a barrel at 0515 GMT, while U.S. West Texas Intermediate crude futures were down 13 cents at $82.69 a barrel. KENYA: Kenya Shifts
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-118/) - Kenya Maintains Key Rate Amid Easing Inflation, Nigeria's Naira Faces Uncertainty, Egypt's Record Inflation Surge, and Ghana's Inflation Hits Four-Month High.
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-117/) - SSA Market Update: Oil Gains on Supply Cuts; Kenya's Eurobond Shortlist; Nigeria Tax Reforms; Ghana Opposition's Demand; Egypt's Trade Gap Widens
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-116/) - Oil prices surge, Kenya's Banks Feel Capital Pressure, Ghana Advances Debt Exchange, Nigerian Exchange Witnesses Varied Trends, Egypt's Reserves Edge Up
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-115/) - Oil Rally on Supply Tightness, KRA Plans Backdated Taxes, Nigeria's Oil Export Revenue Plunges, Ghana Hints at Tax Reforms, Angola Boosts Power Production
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-114/) - Oil prices eased on Monday as traders awaited more rate hike cues from U.S. and European central banks, with tightening supply and hopes for Chinese stimulus underpinning Brent at $80 a barrel. Brent crude futures dipped 31 cents, or 0.4%, to $80.76 a barrel by 0644 GMT. U.S. West Texas Intermediate (WTI) crude was at
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-113/) - Brent oil prices rose on Friday, as markets assessed the prospect of economic stimulus in China after weak economic data, falling inventories in the U.S. and supply cuts from key producers. Brent futures rose 68 cents to $80.32 a barrel by 0600 GMT, while U.S. West Texas Intermediate (WTI) crude climbed 65 cents to $76.30
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-112/) - Political Unrest in Kenya Threatens Economic Stability, Ghana Restructures More Domestic Debts, and Nigeria Slashes Cash Reserve
- [market commentary](https://www.gfxbrokers.com/market-commentary-111/) - Oil prices are poised for a third consecutive weekly gain, despite a minor decline on Friday. The dip is attributed to concerns over supply disruptions in Libya and Nigeria, along with expectations of increased U.S. crude demand amid cooling inflation. Brent crude futures dropped 20 cents to $81.16, while U.S. West Texas Intermediate (WTI) crude
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-110/) - Oil prices climbed on Thursday after U.S. inflation and economic data sparked hopes that the Federal Reserve may have fewer interest rate hikes in store and Chinese trade figures showed monthly oil imports were the second-highest on record in June. Brent crude futures gained 21 cents, or 0.3%, to $80.32 per barrel by 0630 GMT,
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-109/) - Kenya strikes cheaper oil deal, Ghana has highest interest rates, Nigerian investors gain $2.4billion, Ethiopia earns $1.3billion from coffee
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-108/) - IMF Reviews Kenya's Program, Nigeria's Equities Market Surges, Ghana Bondholders' Protest Suspended, and Angola Completes Hydroelectric Dam Turbines
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-107/) - Oil prices dip; Kenya plans bond for fuel subsidy; Egyptian inflation soars; Nigeria's capital inflows decline;Ghanaian banks negotiate cocoa debt restructuring
- [Kenya's Export Trade Revenue Surges 14.3%<br>Year-on-Year in Q1, 2023](https://www.gfxbrokers.com/kenyas-export-trade-revenue-surges-14-3year-on-year-in-q1-2023/) - Francis Kyei, Senior Market Analyst Kenya's export trade revenue recorded robust growth in Q1 2023, reaching $1.6 billion compared to $1.4 billion the previous year, reflecting a year-on-year growth rate of 14.3%. Kenya's agricultural sector, particularly coffee and tea production, played a crucial role in driving the growth, contributing over $350 million to the export
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-106/) - Nigeria suspends telecom taxes, Kenya secures a $500 million syndicated loan, BoG warns of rising financial risks, and Ethiopia reduces import spending by 3%.
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-105/) - World Bank Supports Kenya's Monetary Policy; Ghana Reinforces Ban on Crypto; Nigeria's Forex Reserves Depleted; Angola Lays Out Strategy for Oil Production
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-104/) - Oil prices decline as Kenya's economy rebounds, Nigeria implements reforms, Ghana faces mounting debt pressure, and Ethiopia secures an AfDB loan
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-103/) - Oil prices rose on Tuesday as markets weighed supply cuts for August by top exporters Saudi Arabia and Russia against the backdrop of an uncertain global economic outlook. Brent crude futures climbed 32 cents, or 0.42%, to $75.73 a barrel by 0805 GMT. U.S. West Texas Intermediate crude was at $70.96 a barrel, up 32
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-102/) - Oil prices experienced a decline on Monday due to concerns over a global economic slowdown and potential interest rate hikes by the U.S. Federal Reserve. These factors offset expectations of tighter supplies and output cuts by OPEC+. Brent crude futures dipped by 4 cents to $75.37 a barrel at 0800 GMT, while U.S. West Texas
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-101/) - Oil Prices Steady, Kenya Targets Lower Coupon Rates, Zambia's Inflation Drops, Ghana's Cocoa Soars, Nigeria's Stock Market Surges.
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-100/) - By 0613 GMT, Brent crude futures had climbed 67 cents to $74.85 a barrel, while U.S. West Texas Intermediate (WTI) futures rose 73 cents to $70.10 a barrel.
- [market commentary](https://www.gfxbrokers.com/market-commentary-99/) - Brent crude futures rose 56 cents, 0.8%, to $74.41/bbl by 0725 GMT. Similarly, U.S. West Texas Intermediate crude (WTI) rose by 44 cents, 0.6%, reaching $69.44
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-98/) - Oil Prices Slip, Nigeria to Introduce More Measures for FX Float, EU and Kenya Sign Trade Deal, Afreximbank's Annual Meetings in Accra, Gold Slide in Egypt
- [market commentary](https://www.gfxbrokers.com/market-commentary-97/) - Oil prices fell >1% as China’s economy concerns outweighed OPEC+ cuts & US rig drop. Brent crude down 78 cents to $75.83/barrel by 06:55 GMT on Monday
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-96/) - Brent futures increased by 0.3% to $75.87/bbl, while U.S. WTI crude rose by 0.2% to $70.78/bbl. Both benchmarks experienced a 3% surge in the previous session.
- [market commentary](https://www.gfxbrokers.com/market-commentary-95/) - Brent crude futures rose 39 cents, or 0.6%, to $73.59 a barrel by 0630 GMT. U.S. WTI) crude climbed 39 cents, or 0.6%, at $68.66 a barrel.
- [market commentary](https://www.gfxbrokers.com/market-commentary-94/) - Oil prices inched up on Wednesday as investors awaited the outcome of the U.S. Federal Reserve's June meeting, key economic data from China and government data on U.S. crude stockpiles. Brent crude futures were up 32 cents, or 0.4%, at $74.61 a barrel by 0610 GMT. U.S. West Texas Intermediate (WTI) crude was at $69.64
- [market commentary](https://www.gfxbrokers.com/market-commentary-93/) - Oil dips as investors await Fed meeting, and concerns about China's fuel demand. Brent crude down 0.94% to $74.09, WTI crude falls 0.91% to $69.53.
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-92/) - Oil prices drop for a second day on Wednesday due to global economic concerns, overshadowing initial gains from Saudi Arabia's unexpected output cuts.
- [market commentary](https://www.gfxbrokers.com/market-commentary-91/) - Global economic worries outweigh Saudi Arabia's output cut, causing a slight decline in oil prices: Brent crude down to $76.20, WTI down 54 cents to $71.61.
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-90/) - Oil prices rose on Friday after the US debt ceiling bill passed, while market expectations for OPEC+ production cuts supported prices. Brent crude futures increased by 0.96% to $74.99 a barrel, and US West Texas Intermediate crude rose by 0.94% to $70.76. GHANA: PAY 30% OF $1.6BN ENERGY DEBT BY JUNE 30 – POWER PRODUCERS
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-89/) - Oil prices rebounded on Thursday, supported by positive developments in the US, including a potential pause in interest rate hikes and progress on the de
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-88/) - Oil prices fell further as concerns about slowing demand from China outweighed positive progress on the U.S. debt ceiling bill. Brent crude futures f
- [Market commentary](https://www.gfxbrokers.com/market-commentary-87/) - Oil prices declined on Tuesday amid concerns about the US debt ceiling pact, dampening market sentiment. Brent crude futures fell to settle at $76.48 pbl.
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-86/) - Brent crude futures experienced a slight decline of 14 cents, settling at $78.22 per barrel by 0635 GMT. Similarly, WTI saw a marginal drop to $74.09
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-85/) - At 0645 GMT, Brent crude reached $77.58p/b, while WTI settled at $73.75 per barrel. Oil prices, though slightly lower from their peak, remained
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-84/) - Discover the impact of OPEC+ supply cuts, challenges faced by Tullow Oil in Kenya, Nigeria's game-changing refinery project, Stay informed and stay ahead
- [Ghana to begin intensive negotiations with Eurobond creditors next month.](https://www.gfxbrokers.com/ghana-to-begin-intensive-negotiations-with-eurobond-creditors-next-month/) - Starting next month, Ghana is embarking on intensive negotiations with its commercial creditors, a critical phase of its $3 billion IIMF
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-83/) - Brent crude futures fell 0.97% to $74.85 a barrel, while U.S. West Texas Intermediate (WTI) crude for July delivery slipped 1.02% to $70.96.
- [Market commentary](https://www.gfxbrokers.com/market-commentary-82/) - Oil prices rebounded on Friday as optimism grew regarding the diminished risk of a U.S. debt default. Brent increased to $76.59 while WTI rose to $72.48.
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-81/) - Oil prices fell on Thursday after surging nearly 3% in the previous session, as traders closely monitored U.S. debt ceiling talks for signs of progress. T
- [market commentary](https://www.gfxbrokers.com/market-commentary-80/) - Oil prices declined on Wednesday due to unexpected increase in U.S. crude inventories. Brent dropped to $74.42 a barrel, while WTI fell to $70.84 at 0657 GMT.
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-79/) - Oil futures traded sideways on Tuesday, after mostly weaker-than-expected data from China muddied the outlook for demand from the world's top crude impo
- [market commentary](https://www.gfxbrokers.com/market-commentary-78/) - Oil prices fell on Monday as concerns about fuel demand in the top global oil consumers, the United States and China, offset bullish sentiment about tightening supplies from OPEC+ cuts and a resumption in U.S. buying for reserves. Brent crude futures fell 26 cents, or 0.35%, to $73.91 a barrel by 0638 GMT, while U.S.
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-77/) - Kenya's debt to China slows, Ghana shores up gold reserves, Angola overtakes Nigeria in Africa's biggest oil producer, here's whats moving the SSA markets.
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-76/) - Brent crude futures rose by 17 cents, or 0.2%, to $76.58 a barrel by 0653 GMT, while U.S. crude futures climbed 17 cents, also up 0.2%, to $72.73.
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-75/) - Oil prices fell on Wednesday, ending a three-day rally, as an unexpected rise in U.S. oil inventories sparked demand concerns and investors awaited U.S. inflat
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-74/) - Oil prices fell on Tuesday, relinquishing some of the strong gains of the previous two sessions with the market cautious ahead of U.S. inflation figur
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-73/) - Oil prices rose on Monday as fears of a recession in the US which drove prices down for three straight weeks for the first time since November, started receding
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-72/) - Oil prices rose on Friday but were poised for a third straight week of losses after markets witnessed dramatic drops on fears of a weakening U.S. economy and slowing Chinese demand. Brent crude rose 60 cents, or 0.8%, to $73.10 a barrel at 0545 GMT, while U.S. West Texas Intermediate was up 52 cents, or
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-71/) - Oil prices rose on Thursday but were unable to claw back the more than 9% decline during the previous three days as demand concerns in major consumers overrode signals that the U.S. may pause its interest rates increases. Brent futures rose 50 cents, or 0.7%, to $72.83 a barrel by 0639 GMT. U.S. West Texas
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-70/) - Oil saw a little change on Wednesday after hitting five-week lows in the previous session, as investors priced in expectations for interest rate hikes in US
- [MARKET COMMENTARY](https://www.gfxbrokers.com/market-commentary-69/) - Oil prices fell on Tuesday as weak economic data from China and expectations of a U.S. interest rate increase weigh on the market.
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-68/) - Nigeria’s dollar bonds posted the biggest losses in emerging markets Thursday after the West African nation signalled its plan to remove energy subsidies could
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-67/) - Oil prices rose slightly on Thursday, finding some support after heavy losses in the previous two sessions driven by fears of a U.S. recession and an increase in Russian oil exports which dulled the impact of OPEC production cuts. Brent crude was trading at $78.01 a barrel, up 32 cents, or 0.4% as of 0627
- [Market commentary](https://www.gfxbrokers.com/market-commentary-66/) - Brent crude rose 10 cents to $82.83 a barrel at 0805 GMT, while U.S. West Texas Intermediate crude gained 15 cents to $78.91. Both contracts rose over 1% on Mo
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-65/) - Brent futures for June delivery were down by 30 cents, or 0.4%, at $80.80 a barrel at 0630 GMT. WTI for June delivery fell 31 cents, or 0.4%, to $77.06 a barrel
- [IMF Update: Ghana intensifies talks with creditors to unlock $3 billion bailout next month](https://www.gfxbrokers.com/imf-update-ghana-intensifies-talks-with-creditors-to-unlock-3-billion-bailout-next-month/) - Ghana has intensified talks with its external creditors to secure financial assurances from them ahead of its meeting with the IMF board for a $3 billion ECF.
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-64/) - Oil prices were down on Thursday as the dollar strengthened on rate-hike expectations and after recent economic data from the U.S. and China did not do enough
- [Market commentary](https://www.gfxbrokers.com/market-commentary-63/) - Oil dropped on Wednesday as the market weighed potential interest rate hikes from the U.S. Federal Reserve that could slow growth and dampen oil consumption, offsetting falling U.S. inventories and strong Chinese economic data. Brent Crude futures shed 35 cents, or 0.4%, to $84.42 a barrel as at 0641 GMT. West Texas Intermediate U.S crude
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-62/) - Brent Crude futures nudged 7 cents lower to $86.24 a barrel by 0746 GMT, while U.S. West Texas Intermediate crude was at $82.47 a barrel, down 6 cents.
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-61/) - Oil prices rose on Friday on worries over tightening supply with the market looking ahead to the IEA monthly report to clarify the global demand
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-60/) - Oil prices retreated on Thursday after rising for two sessions, with investors still showing lingering concern over a possible U.S. recession and weaker oil de
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-59/) - Brent Crude gained 19 cents, or 0.2%, to $85.80 a barrel as of 0615 GMT, while U.S. West Texas Intermediate rose 13 cents, or 0.2%, to $81.66 a barrel.
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-58/) - Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude stockpiles
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-57/) - Oil remained on track for weekly gains on Thursday, with further production cuts targeted by OPEC+ and a drop in U.S. oil inventories overshadowing fears over global economic growth. Brent and US crude have both gained more than 6% this week, heading for a third weekly gain after the Organization of the Petroleum Exporting Countries
- [SSA Eurobond Market Hit by Fed's hawkish remarks... but remains best option for hedging.](https://www.gfxbrokers.com/ssa-eurobond-market-hit-by-feds-hawkish-remarksbut-remains-best-option-for-hedging/) - News of the Fed’s decision to lift interest rates than previously anticipated reverberated through global markets, and the SSA Eurobond market was not spared.
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-56/) - Brent crude futures gained 22 cents, or 0.26%, to $85.16 a barrel by 0747 GMT. West Texas Intermediate U.S. crude was up 12 cents, or 0.15%, to $80.83 a barrel
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-55/) - Oil prices rose on Tuesday after OPEC+ plans to cut more production jolted markets the previous day, with investors' attention shifting to demand trends
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-54/) - Brent crude was trading at $83.89 a barrel by 0627 GMT, up $4, or 5%. U.S. West Texas Intermediate crude was at $79.39 a barrel, also up about $4, or 5%.
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-53/) - Oil prices ticked down in Asian trade on Friday as bullish sentiment about Chinese demand and potential Middle Eastern supply disruptions was tempered by uncertainty over U.S. economic data to be released later in the day. Brent futures, which have risen nearly 6% this week, were down 33 cents, or -0.42%, at $78.94 a barrel
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-52/) - Brent crude climbed 42 cents, or 0.5%, to $79.07 a barrel by 0802 GMT, while West Texas Intermediate U.S. crude increased 61 cents, or 0.8%, to $73.81
- [Investment Analysis Report: ACCESS BANK PLC.](https://www.gfxbrokers.com/access-bank-plc-investment-analysis-report/) - Introduction This report is an analysis of the fundamentals of Access Bank Plc. We have assessed the company’s financial performance from 2019 to September 30, 2022, its credit ratings, and have drawn a conclusion on whether the company’s bonds on the market offer attractive options to investors seeking to make gains in 2023. We have
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-51/) - Crude prices retreated on Tuesday after rallying the previous session, with global markets focused on developments in the banking crisis and indications of stre
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-50/) - Oil prices rose on Monday as investors assessed efforts by authorities to rein in worries about the global banking system, while Russia plans to place nuclear
- [Tough times ahead for SSA economies amidst Fed rate hikes](https://www.gfxbrokers.com/tough-times-ahead-for-ssa-economies-amidst-fed-rate-hikes/) - Economies in the SSA region are still struggling to contend with soaring inflation, among other challenges as the first quarter of 2023 draws to a close.
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-49/) - Brent oil futures were flat at $75.92 a barrel, while West Texas Intermediate crude futures rose 0.1% to $70.00 a barrel by 02:24 ET (06:24 GMT).
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-48/) - Brent crude futures fell 46 cents, or 0.6% to $76.23 a barrel by 0720 GMT, while U.S. West Texas Intermediate crude (WTI) dropped 50 cents, or 0.7%, to $70.40.
- [Kenya’s FX crisis deepens ahead of 3 coupon payments in Q2, maturing bond in 2024.](https://www.gfxbrokers.com/kenyas-fx-crisis-deepens-ahead-of-3-coupon-payments-in-q2-maturing-bond-in-2024/) - Kenya is facing three Eurobond coupon payments between May and June this year and a US$2 billion maturing bond in 2024, as the country’s FX crisis continues to
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-47/) - Oil prices drifted lower on Tuesday as more than a week of banking turmoil kept weighing on market confidence Brent crude futures for May settlement dropped 73 cents, or 1%, trading at $73.06 per barrel at 0736 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 56 cents, or 0.8%, to $67.08 a barrel
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-46/) - Oil Prices fell on Monday for a second session on concerns that risks in the global banking sector may cause a recession that would lead fuel demand to declin.
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-45/) - Oil prices firmed on Friday after a meeting between Saudi Arabia and Russia calmed markets amid strong China demand expectations but are headed for their biggest weekly falls since December 2022. Brent crude futures firmed by 30 cents to $75 a barrel by 07:04 GMT, having snapped three days of losses to settle 1.4% higher
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-41/) - Oil headed for the biggest weekly loss since early February as the risk of faster interest-rate hikes weighed on the outlook for energy demand. Brent dipped 39 cents, or 0.5%, to $81.20 a barrel by 07:45 GMT. U.S. West Texas Intermediate crude (WTI) was down 58 cents, or 0.8%, at $75.14. KENYA: The Kenyan government
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-44/) - Oil rose from the lowest close in 15 months after a three-day rout started by the US banking crisis and Credit Suisse's financial crises. As of 0742 GMT, Brent
- [Ghana’s IMF request faces new challenges in Parliament.](https://www.gfxbrokers.com/ghanas-imf-request-faces-new-challenges-in-parliament/) - Ghana’s IMF request is facing another challenge in the country’s Parliament as some lawmakers threaten to vote against the three key bills that need to be pa
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-43/) - Oil prices fell by more than $1 on Tuesday, extending the previous day's slide, as the collapse of Silicon Valley Bank rattled equities markets and sparked fear about a fresh financial crisis. Brent crude futures were down 82 cents, or 1%, at $79.95 a barrel at 0700 GMT. U.S. West Texas Intermediate crude futures (WTI)
- [China can’t hold Ghana’s debt restructuring to ransom](https://www.gfxbrokers.com/china-cant-hold-ghanas-debt-restructuring-to-ransom/) - Unlike Zambia and Sri Lanka, Ghana seems to be making headway in its debt restructuring efforts, and the US$1.7 billion debt to China may not even be a hurdle.
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-42/) - Oil prices ticked up on Monday, reversing a weak start as a recovery in Chinese demand and a weaker dollar provided support to a market rattled by the prospect of possible further U.S. interest rate increases. Brent crude futures were up 25 cents, or 0.30%, to $83.03 per barrel by 0700 GMT. West Texas Intermediate
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-40/) - Oil prices were in a holding pattern on Thursday, as a larger-than-expected draw in U.S. crude stocks and hopes for China demand contended with worries that more aggressive U.S. interest rate rises would slow economic growth and dent oil consumption. Brent crude futures edged up by 1 cent to $82.67 per barrel by 0645 GMT,
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-39/) - Oil prices fell for a second straight session on Wednesday, driven by fears that more aggressive U.S. interest rate hikes would hit demand, while the market awaited further clarity on inventories. Brent crude futures dipped 22 cents, or 0.3%, to $83.07 per barrel by 07:30 GMT. U.S. West Texas Intermediate (WTI) crude futures slid 34
- [market commentary](https://www.gfxbrokers.com/market-commentary-38/) - oil prices saw a slight change on tuesday, after rising for the past five sessions, as concerns about limited spare capacity in the market and uncertainty over russian supplies offset mixed oil data from top crude importer china. brent crude futures rose 18 cents to $86.36 per barrel by 07:30 gmt after settling 0.4% higher
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-37/) - Oil prices opened lower on Monday after China set a lower-than-expected target for economic growth this year at around 5%, and as investors cautiously await U.S. Federal Reserve Chair Jerome Powell's testimony this week. Brent crude futures were trading down 58 cents, or 0.7%, at $85.25 a barrel at 0340 GMT. U.S. West Texas Intermediate
- [DDEP: Ghana under pressure to secure 80% participation on deadline day](https://www.gfxbrokers.com/domestic-debt-exchange-ghana-under-pressure-to-secure-80-participation-on-deadline-day/) - Ghana’s DDEP ends today February 7 with government of Ghana aiming at 80% participation rate, after pushing back the deadline date on four occasions to allow
- [Investment Analysis Report: United Bank for Africa (UBA) Plc](https://www.gfxbrokers.com/investment-analysis-report-united-bank-for-africa-uba-plc/) - This report is our brief analysis of the status of United Bank for Africa (UBA) Plc. We have analysed the company’s financials over the past five years, its cr
- [Ghana’s frustration deepens as local creditors reject debt exchange programme](https://www.gfxbrokers.com/ghanas-frustration-deepens-as-local-creditors-reject-debt-exchange-programme/) - Francis Kyei, Senior Market Analyst Ghana's domestic debt exchange programme has run into a major challenge. Local bondholders have largely rejected the programme, making it difficult for the debt-ridden country to restructure the debt for an IMF bailout. The Ghana Association of Bankers has directed all commercial banks in Ghana not to sign on to
- [Nigeria’s rising debt: Is restructuring the only solution?](https://www.gfxbrokers.com/nigerias-rising-debt-is-restructuring-the-only-solution/) - Francis Kyei, Senior Market Analyst Nigeria’s debt has become a major topic in the country lately. There are growing fears the oil-rich country may be headed toward a distressed situation as neighbouring Ghana, Chad, Zambia, and Ethiopia. Nigeria’s President Muhammadu Buhari is pushing for the country’s Senate to approve his decision to convert the country’s
- [Tullow Oil Plc-Investment Analysis Report](https://www.gfxbrokers.com/tullow-oil-plc-investment-analysis-report/) - Introduction This paper is our evaluation of the performance of Tullow Oil Plc. The aim is to guide investors considering the company’s corporate bonds on the international capital market to make informed decisions. We have analysed the company’s financials and future business prospects, as well as the current global and market conditions, and have identified
- [Ghana extends Domestic Debt Exchange Programme deadline to Feb 7](https://www.gfxbrokers.com/ghana-extends-domestic-debt-exchange-programme-deadline-to-feb-7/) - The Government of Ghana has extended the deadline for the Domestic Debt Exchange Programme (DDEP) to February 7, 2023, from January 31, to allow for more
- [Kosmos Energy-Investment Analysis Report](https://www.gfxbrokers.com/kosmos-energy-investment-analysis-report/) - This paper is an analysis of the macroeconomic factors such as the state of the global economy and industry conditions and microeconomic factors such as the fin
- [U.S inflation hits 6.4%…implication for SSA Eurobond market](https://www.gfxbrokers.com/us-cpi-hits-6-4implication-for-ssa-eurobondmarket/) - Consumer prices in the United States (US) dipped from 6.5% in December 2022 to 6.4% in January 2023, beating analysts’ forecasts of 6.2%, and raising concerns
- [Cloud of uncertainties over Ghana's external debt restructuring](https://www.gfxbrokers.com/cloud-of-uncertainties-over-ghanas-external-debtrestructuring/) - With the domestic debt exchange out of the way, Ghana is turning its debt restructuring focus on trying to convince its external creditors to accept new
- [Kenya’s rising debt, shrinking reserves…early signs of a major crack?](https://www.gfxbrokers.com/kenyas-rising-debt-shrinking-reservesearly-signs-of-a-major-crack/) - Kenya’s economy has shown resilience compared to its peers. However, recent data from the CBK shows an increasing debt, weak currency, and dwindling reserves.
- [US-China tension: Any impact on Ghana’s bilateral debt restructuring?](https://www.gfxbrokers.com/us-china-tension-any-impact-on-ghanas-bilateral-debt-restructuring/) - Geopolitical tension between US and China has been increasing over the past weeks. Will this development have any impact on Ghana's bilateral debt talks?
- [Investment Analysis Report -Seplat Energy](https://www.gfxbrokers.com/investment-analysis-report-seplat-energy/) - We have evaluated the performance of Seplat Energy Plc, to determine whether the company’s bond on the capital market presents an attractive alternative.
- [Ghana’s IMF Bailout: external creditors to decide nation’s fate](https://www.gfxbrokers.com/ghanas-imf-bailout-external-creditors-to-decide-nations-fate/) - Ghana is going through one of the worst periods in its history. The country’s economy depends on its ability to renegotiate the terms of its debt
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-36/) - Oil slipped on Thursday on worries about rising U.S. crude inventories and concerns about more rate hikes in Europe potentially hitting growth, paring this week's gains on signs of a strong economic rebound in China. Brent crude futures fell 13 cents, or 0.15%, to $84.18 a barrel at 0715 GMT, while U.S. West Texas Intermediate
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-35/) - Oil prices extended gains for a second session on Wednesday after a strong jump in manufacturing in China, the world's top crude importer, boosted the outlook for global fuel demand. Brent crude futures for May rose 46 cents, 0.6%, to $83.91 a barrel at 04:45 GMT. U.S. West Texas Intermediate (WTI) crude for April gained
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-34/) - Oil prices rose on Tuesday, supported by hopes that a solid economic rebound in China will drive up fuel demand, offsetting worries about further U.S. interest rate hikes. Brent crude futures for April, due to expire on Tuesday, were up by 39 cents to $82.84 per barrel by 07:18 GMT. The more active contract for
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-33/) - Oil fell on Monday as concerns that the Fed will keep on raising rates eclipsed the latest disruption to supplies in Europe and optimism over a demand recovery in China. West Texas Intermediate U.S. crude futures (WTI) traded at $75.98 a barrel, 34 cents, or 0.5% lower, while Brent crude futures were down 48 cents,
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-32/) - Oil prices extended gains for a second session on Friday as the prospect of lower exports from Russia offset rising inventories in the United States
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-31/) - Oil prices edged up on Thursday, after Brent crude posted its biggest single-day loss in seven weeks the day before, as market players reassessed prospects for supply and demand. Brent crude futures rose 41 cents, or 0.5%, to $81.01 per barrel by 0754 GMT. West Texas Intermediate crude futures (WTI) advanced 38 cents, also 0.5%,
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-30/) - Oil prices fell for a third trading session on Wednesday on expectations the U.S. Federal Reserve will indicate later in the day that interest rates are set to
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-29/) - Oil prices fell on Tuesday, pulling back sharply from a recent recovery as markets hunker down ahead of several more cues on U.S. monetary policy this week, while strength in the dollar also weighed. Brent oil futures fell 0.9% to $83.33 a barrel, while West Texas Intermediate crude futures sank 0.8% to $76.80 a barrel
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-28/) - Oil prices rose on Monday amid optimism over China's demand recovery, concerns that underinvestment will crimp future oil supply and as major producers keep output limits in place. Brent crude rose 70 cents, or 0.8%, to $83.70 a barrel by 07:20 GMT. U.S. West Texas Intermediate (WTI) crude for March, which expires on Tuesday, was
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-27/) - Oil prices were on track for weekly losses of 2.5% as strong U.S. economic data heightened concerns that the Federal Reserve would further tighten monetary policy to tackle inflation, a move that could hit fuel demand. Brent crude futures dropped 96 cents, or 1.13%, to $84.18 per barrel by 0744 GMT on Friday, while U.S.
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-26/) - Oil prices rose on Thursday as hopes of a robust fuel demand recovery in top oil consumer China offset losses arising from strength in the greenback and a large build in the U.S crude inventory. Brent crude futures rose 59 cents, or 0.7%, to $85.97 per barrel by 0725 GMT, while U.S. West Texas Intermediate
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-25/) - Geopolitical concerns continued to simmer on the background, with the US preparing to impose a 200% on Russian-made aluminium and US-listed Chinese shares tumbling as Washington moves to shoot down an alleged surveillance balloon from the Asian nation Oil: Brent crude futures rose 1.4%, to $82.16 per barrel by 0500 GMT, while West Texas Intermediate
- [Market Commentary](https://www.gfxbrokers.com/market-commentary/) - The first trading day of 2023. Happy New YearA surge in COVID-19 cases within CHINA causes concerns for the wider global economy, as President Xi Jinping states tough challenges remain. Oil prices held in a narrow range following IMF's warning that the global economy faces a tough year ahead. SSA starts on a firm note
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-2/) - The USD index surged more than 1% as traders positioned for the minutes of the US Fed’s December meeting today. SSA opens with Bank of Ghana stepping up support for commercial banks to address the increasing demand for the US dollar. Nigeria’s President Buhari signs 2023 budget into law.
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-20/) - March Brent crude futures declined 25 cents to $84.65 per barrel by 0715 GMT. The March contract expires on Tuesday and the more heavily traded April contract fell by 38 cents, or 0.45%, to $84.12. Likewise, U.S. West Texas Intermediate (WTI) crude futures dropped by 44 cents, or 0.56%, to $77.46 a barrel. GHANA: Ghana’s
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-24/) - OIL: Brent crude futures rose 32 cents, or 0.4%, to $80.26 a barrel at 0700 GMT, while U.S. West Texas Intermediate (WTI) crude futures climbed 22 cents, or 0.3% higher, to $73.61 FX: The dollar rose to a near one-month high against a basket of currencies, with the dollar index and dollar index futures up
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-23/) - FX: The dollar index and dollar index futures rose about 0.1% each after a 0.5% bounce and were set to end the week unchanged. The dollar was also supported against a basket of currencies by weakness in the euro and the British pound, after their respective Central Banks hinted a potential pause in their rate
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-22/) - The dollar slid on Thursday after the US Federal Reserve said it had turned a corner in the fight against inflation, giving the markets a boost in confidence that the end of the central bank’s rate-hike campaign was near.Brent crude futures rose 65 cents, or 0.8%, at $83.49 a barrel as of 0353 GMT, while
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-21/) - Brent crude futures gained 8 cents, or 0.1%, to $85.54 a barrel at 0727 GMT. U.S. West Texas Intermediate (WTI) crude futures rose 20 cents, or 0.2%, to $79.07 a barrel. Both benchmarks were up for a second day, after gaining about 1% in the previous session. NIGERIA: The IMF has upgraded its projection for
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-19/) - The U.S. dollar index, which measures the greenback against a basket of currencies, rose 0.03% to 101.92 after hitting an eight-month low last week. The Sterling was up 0.04% at $1.2405, while the euro rose 0.06% to $1.0874. Brent crude futures fell 20 cents, or 0.2%, to $86.46 a barrel by 0435 GMT while U.S.
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-18/) - Oil prices moved little on Friday and were set to end the week flat amid caution over an upcoming OPEC panel meeting. Brent oil futures rose 0.2% to $87.69 a barrel, while West Texas Intermediate crude futures rose 0.4% to $81.23 a barrel by 07:24 GMT. The dollar recovered some lost grounds against a basket
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-17/) - Brent crude futures rose 16 cents, or 0.2%, to $86.28 per barrel by 0745 GMT. U.S. West Texas Intermediate (WTI) crude futures climbed 31 cents, or 0.4%, to $80.46. The U.S. dollar index, which measures the greenback against a basket of currencies, inched 0.1% higher to 101.65, after falling as low as 101.52 earlier in
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-16/) - Brent crude rose 17 cents, or 0.2%, to $86.30 per barrel by 0740 GMT after falling 2.3% in the prior session. U.S. West Texas Intermediate (WTI) crude climbed 7 cents, or 0.1%, to $80.20, after a 1.8% drop on Tuesday. Expectations that the US interest rates will rise at a slower pace saw investors pivot
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-15/) - Brent crude was down 7 cents to $88.12 per barrel by 0715 GMT on Tuesday, after rising to a session high of $88.36. U.S. West Texas Intermediate (WTI) crude rose 5 cents to $81.67, after climbing to $81.88 earlier in the session. GHANA: The Government of Ghana and the Ghana Association of Banks (GAB) have
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-14/) - Oil prices edged lower from a recent rally on Monday as traders awaited more cues on an economic recovery in China and a potential US recession. On the supply side, the focus is on Russia as the country struggles to cope with strict price caps on its oil export. KENYA: The ongoing dollar shortage is
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-13/) - Oil prices rose further on Friday, set to end the week higher as optimism grows over an eventual recovery in Chinese demand this year. Brent futures for March delivery gained 26 cents, or 0.3%, to $86.42 a barrel by 0655 GMT, while U.S. crude advanced 43 cents to $80.76 per barrel, a 0.5% gain. KENYA:
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-12/) - The US dollar recovered from a seven-month low against a basket of currencies. The dollar index and dollar index futures rose 0.4% each on Wednesday. Oil headed for the highest close since early December ahead of the IEA’s latest outlook. Ghana: The Ghana cedi has depreciated by about 12.7% to the US dollar with only
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-11/) - Oil prices traded in a mixed fashion Tuesday, with investors digesting the Chinese growth data amid continued optimism about a recovery in the country’s fuel demand this year Nigeria: Nigeria’s lawmakers resume work today to consider among other issues, President Buhari’s request for Senate’s approval of the conversion of the Federal government’s $50 billion overdraft
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-10/) - Oil prices fell Monday, handing back some of last week's strong gains at the start of the week that includes a plethora of economic data as well as demand forecasts from OPEC and the IEA. Nigeria: The volume of shares traded on the Nigerian stock exchange soared significantly last week, with a turnover of 1.3
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-9/) - The US dollar edged lower in early trade Friday, continuing the previous session’s selloff after cooling US inflation paved the way for the Federal Reserve to ease the pace of its interest hikes Nigeria: Nigerian government plans to increase crude oil production to 2.2 million barrels per day. The country hopes to export Premium Motor
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-8/) - Oil steadied after five days of gains ahead of the US inflation figures and as China’s crude buying ramps up before the Lunar New Year holidays. Gold climbed ahead of the data, which may determine whether its two-month uptrend continues. Ethiopia: Authorities raised fuel prices by about 10 percent, the third adjustment in less than
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-7/) - The Federal Reserve is bracing for political resistance as it attempts to bring down inflation. Oil prices fell Wednesday after a sharp increase in US crude and fuel inventories reignited demand worries at the world’s largest consumer. SSA: Growth in per capita income in 2023-24 in the SSA region—which accounts for about 60 per cent
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-6/) - Oil prices fell handing back some of the previous sessions’ gains on fears that further interest rate hikes in the U.S, the largest consumer of crude oil, would curb demand. Nigeria: The Central Bank of Nigeria’s (CBN) cash withdrawal policy has commenced despite the scarcity of the new naira notes. Analysts say despite the many
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-5/) - China’s decision to fully reopen its borders boosted global sentiment as investors hope the move will bolster the outlook for global growth. Beijing dropped pandemic border controls on Sunday, opening its perimeter that had been shut since the start of the COVID-19 pandemic. Ghana: A group of individual bondholders is preparing to sue the government
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-4/) - Oil prices edge up on optimism over China-Hong Kong border reopening on Jan 8. SSA: Ghana to raise ¢1.49 billion (USD129million) to refinance the upcoming Treasury bills maturities. Nigeria’s rising debt stock to hit N72 trillion (USD160 billion) by end 2023, from N44 trillion (USD97 billion) in Sept 2022.
- [Market Commentary](https://www.gfxbrokers.com/market-commentary-3/) - US Fed resolves to sustain restrictive policy to bring down inflation. Oil edged higher after plummeting around 9% over the past two sessions In SSA, foreign investor outflows in Kenya hit USD193 billion (Sh23.9 trillion) in 2022, according to reports.
- [Ghana to announce 30% cuts, zero-coupon payments on Eurobonds.](https://www.gfxbrokers.com/ghana-to-announce-30-cuts-zero-coupon-payments-on-eurobonds/) - Francis Kyei, Senior Market Analyst, GFX Prime Ghana is set to announce a 30% cut on the face value of its Eurobonds and a three-year zero-coupon payment policy, as part of measures to restructure its foreign debts for a US$3 billion International Monetary Fund (IMF) bailout. The country will also ask Eurobond holders to accept
- [Markets commentary](https://www.gfxbrokers.com/markets-commentary-2/) - SSA Markets open with Ghana extending the deadline for voluntary participation in the domestic debt-exchange programme to January 16, 2023, from December 30, 2022. The programme has been amended to include individual bondholders and exclude pension funds. The foreign debt restructuring programme is yet to be announced.On the global front, China’s reopening is raising investor
- [Markets Commentary](https://www.gfxbrokers.com/markets-commentary/) - SSA markets open tilted towards the upside. Risk-off sentiments continued to prevail within Sub Saharan markets as US 10 Year yield stayed elevated. Liquidity in markets has started to dwindle as we head into the holiday season. S&P Global Ratings downgrades Foreign Currency LT credit rating of Ghana to selected default.The impact of the BOJ’s
- [Ghana’s external creditors demand good faith in debt negotiation](https://www.gfxbrokers.com/ghanas-external-creditors-demand-good-faith-in-debt-negotiation/) - By Francis Kyei, Senior Market Analyst, GFX-Prime Ghana’s external creditors have urged parties involved in the country’s debt restructuring negotiations to show good faith in the negotiation process. The call comes in the wake of a recent announcement by the Government of Ghana to suspend all external debt service payments. According to the creditors, a
- [SSA Market Commentary](https://www.gfxbrokers.com/ssa-market-commentary/) - SSA markets opened tilted towards the down side. The Bank of Japan surprise hawkish rise in interest rates has sent the yen higher and risk markets across the globe lower. The US 10-year yield rises to 3.70%, an indication of risk off sentiment. The EMTA finally confirmed that GHANA can be traded flat of accrued
- [Election 2023: The future of Nigeria’s ailing oil  economy](https://www.gfxbrokers.com/election-2023-the-future-of-nigerias-ailing-oil-economy/) - As Nigeria gears up to elect a new president in February 2023, a major issue dominating the political discourse is the country’s bleeding oil sector plagued with dwindling production, illegal oil bunkering and theft, pollution, and corruption. The two main contenders, Bola Tinubu of the ruling All Progressive Congress (APC), and Atiku Abubakar, candidate of
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-43/) - SSA Opens soft. The volatility in SSA markets continued Friday on the back of news Biden convinced of Russian invasion. GHANA & NIGERIA fell 0.25pt to 0.50pt by close.We wake up to news that a summit is being quickly arranged for Biden and Putin to discuss de-escalation of the Ukraine standoff, we expect SSA markets
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-47/) - The secondary bond market saw a slight uptick in activity in the previous week's trading session. The week saw the market heavily skewed towards the front to middle of the curve, with the Aug 22 being the most traded security at 109mio in volume. The back end of the curve remained mute.The GSE announced in
- [Local Currency Market Commentary](https://www.gfxbrokers.com/local-currency-market-commentary-46/) - Wednesday's trading session saw trades in 22s and 24s at around 17.100% levels and 19.720% levels respectively. The market still maintains the idea that Ghana's debt sustainability woes are too much of a red flag to venture into the back end of the curve. It would likely take a substantial commitment of the government to
- [Local Currency Market Commentary](https://www.gfxbrokers.com/eurobond-market-commentary-42/) - Wednesday's trading session saw trades in 22s and 24s at around 17.100% levels and 19.720% levels respectively. The market still maintains the idea that Ghana's debts sustainability woes are too much of a red flag to venture into the back end of the curve. It would likely take a substantial commitment of the government to
- [Local Currency Market Commentary](https://www.gfxbrokers.com/local-currency-market-commentary-45/) - Market activity still persists mainly at the front end. Tuesday's session saw 22s changing hands at 17.40% levels in less than 10mio volume. Jun 25 and Nov 26 were seen trading at 20.473% and 21.000% levels respectively. The Ghana Cedi has seen a 4.70% depreciation to the dollar a mere 45 days into the year.
- [Local Currency Market Commentary](https://www.gfxbrokers.com/eurobond-market-commentary-41/) - Market activity still persists mainly at the front end. Tuesday's session saw 22s changing hands at 17.40% levels in less than 10mio volume. Jun 25 and Nov 26 were seen trading at 20.473% and 21.000% levels respectively. The Ghana Cedi has seen a 4.70% depreciation to the dollar a mere 45 days into the year.
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-44/) - Friday's trading session took on a moderately active tone on the secondary bond market. The market largely saw movement in 23s and 24s, with the back end of the yield curve staying quiet. Nov and Dec 23 traded at 19.400% and 19.460% respectively. The trading week also stayed the same, with most activity at the
- [local currency market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-40/) - Friday's trading session took on a moderately active tone on the secondary bond market. The market largely saw movement in 23s and 24s, with the back end of the yield curve staying quiet. Nov and Dec 23 traded at 19.400% and 19.460% respectively. The trading week also stayed the same, with most activity at the
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-39/) - SSA opens mostly flat. SSA sessions were mixed as traders showed caution leading up to the FED decision. The start of the session saw Europe Equities futures trading up, whilst US Equities trading down, markets that usually correlate showing the uncertainty within markets.Market was bid short end GHANA, with very few offers to be found
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-43/) - There was an uptick in activity on the secondary bond market in Tuesday's trading session. The market saw an increase in the number of bids to match offers. The market saw trades in Oct 22, Jan 23, Jan 25 and March 25 around 17.750%, 19.650%, 21.200% and 21.300% levels respectively. Activity on the buy side
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-38/) - SSA opens flat. SSA started to show signs of an easing of the mini rally during yesterday’s sessions, as traders showed their nervousness leading to the upcoming FED meeting to discuss rate hikes and no clear direction was seen. Oil was caught up with the risk off tone, falling more than 2% yesterday. Investors stayed
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-42/) - Monday's trading session saw a very small improvement in the number of bid interests. Secondary market activity remained subdued due to the buy side having participated heavily in the 6-year Jan 28 issuance. The market however saw movement in Oct 22 and Dec 24 at 17.900% and 20.200% levels respectively. The 6-year Rollover and 3-year
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-41/) - SSA opens firm. SSA rallied on Friday, as traders hedged their bets against the FED’s strategy to fight inflation. NIGERIA, GHANA and ANGOLA traded up by approximately 2pts, following a similar showing on Thursday. Short sellers were bidding up the market in order to cover their positions.The oil rally pushes higher after a pause towards
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-40/) - The weekly session on the secondary bond market ended with the net offered tone taken on all week. Offers were seen in both GOG and corporate securities with short term maturities. However, the session saw Jan 27 changing hands around 21.350% levels. The 6-year Rollover and the 3-year Tap Issuance settle today. We expect market
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-37/) - SSA opens flat. A mini rally was seen in yesterday’s sessions amongst the oilers. NIGERIA, GHANA and ANGOLA were up approximately 2pts by the close as traders took a risk off tone towards US rate hike bets. GHANA was boosted by the Finance Minister plan to rein in spending.Oil lower at the close on an
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-39/) - The market remained on the net offered tone taken on in the opening session on Monday. Activity remained well on the offered side, with very few bids to match. Offers were seen across GOG and corporate securities. The session saw pockets of Nov 23 trading at 19.800%. The book build for the 6-Year GHS Denominated
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-38/) - It was a quiet day on the secondary bond market in Wednesday's trading session. Conversations with the buy side indicated that they were mostly taking part in the first primary GOG issuance of the year. Activity on the market also remained net offered with few bids to match offers. However, the most traded bond of
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-36/) - SSA opens firm. Much of the SSA interest in yesterday’s sessions was in NIGERIA following crude oil highs, the short end was well bid, as investors bid up the curve to find value. GHANA was weighed down throughout the sessions losing 0.5 pt by close. There was a remnant of investors buying the GHANA 26
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-35/) - SSA opens soft. It was a tale of two halves for SSA in yesterday’s sessions. The London open started with strong indicators of a strengthening market, again bids focused on the front end of the GHANA & NIGERIA yield curve with selling long end. All changed as the US traders returned from their day off,
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-37/) - Activity on the secondary bond market was minimal in Tuesday's trading session. The feedback from the buy side was that they were gearing up for the first primary issuance of the year. However, the most traded bonds of the session were Oct 22 and Jan 27, at 17.700% and 21.000% levels. The IPGs for the
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-36/) - There was an uptick in activity on the secondary bond market in the opening session to trading week. There was an improvement in the number of bids to match offers as opposed to the net offered tone the market took the past week. The market saw the most traded bonds at the front end of
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-34/) - SSA opens flat. SSA markets were largely muted, with pockets of interest in the short end of the GHANA and NIGERIA curve causing the spread to widen, as investors bid up the curve. US treasuries fell across the curve, pushing two-year and ten-year yields up to levels last seen pre-pandemic. Pressure continues to mount on
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-35/) - There was an uptick in activity on the secondary bond market in Thursday's trading session. Though the market still continued on its net offered tone, there were a few bids to match. 23s however remained offered at 19.700% levels. Activity during the session remained in the front end to the belly of the yield curve,
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-33/) - SSA opens on a firm note. SSA markets continued a risk on sentiment within the morning sessions following the CPI print, with GHANA and NIGIERIA performing well as market bid the short end of the curve. However, market showed visible signs of softening towards the late session as FED officials re-stated they would be aggressive
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-34/) - SSA opens flat. SSA markets saw a surge in yesterday’s sessions as a risk on sentiment returned to the market. The CPI numbers, higher than expected, caused GHANA & NIGERIA to trade 1.5 pts higher. Despite market previously pricing-in the FED’s price hikes, the CPI numbers suggested a more robust policy will be required for
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-33/) - The secondary bond market once again went quiet in Wednesdays trading session. The market continued on the well offered tone taken on since Monday. The market saw movement in Jan 27s, trading around 21.050% levels. The Ghana statistical service released the Inflation numbers for the end of 2021. At 12.6%, this is the highest since
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-32/) - The market went quiet on the secondary bond market in Tuesday's trading session. The market remained well offered with a lot of participants on the buy side offloading their 23s, presumably to put them in better positions with respect to liquidity. The market saw activity in the front end of the curve with Jul 22
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-32/) - SSA opens unchanged. After the FED chair confirmation to raise interest rates within 2022, SSA is feeling the aftereffects, some sovereigns have it worse than others. GHANA continued to weaken throughout the session, whilst we saw a mini bounce in NIGERIA. We await market’s digestion of rate hikes. Brent crude futures is trading at its
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-31/) - SSA opens unchanged. Selling across SSA continued throughout yesterday’s sessions as traders exited positions in anticipation of four interest rate hikes expected this year. Market sentiment is the FED is likely to be aggressive as wage inflation numbers may just require it. Oil prices rise on Tuesday as investors regained some risk appetite as they
- [local currency market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-30/) - There was a fair amount of activity on the secondary bond market in Monday's session. The market took on a well offered tone, with most participants being offered in 23s with few bids to match as tight liquidity conditions prevailed on the buy-side. Activity on the market remained on the front end of the yield
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-31/) - The quiet tone exhibited by the secondary bond market continued into Thursday's session. The market remained quiet largely because market participants were still yet to return from the holiday break. The market activity largely remained on the front end of the curve with Nov 22 (18.5cpn), Nov 22 (17.6cpn) and Jan 23 trading at 17.700%,
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-29/) - SSA opens flat. GHANA and NIGERIA continue to slide sideways at the open following a largely sluggish run in last week’s session. Oil prices edge up as disruptions in supply in Kazakhstan and Libya outweighed concerns over the rapid global spread of Omicron infections. Brent crude futures rose to $81.94 a barrel. Major stock markets
- [local curency market commentary](https://www.gfxbrokers.com/local-curency-market-commentary/) - The market went quiet in Wednesday's trading session on the secondary bond market. There was a general low liquidity sentiment, especially with participants on the buy side. The session however saw movement in Feb 23, trading at 19.850% levels later on in the session. The Ministry of Finance has released the issuance calendar for Q1
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-28/) - SSA opens to a bearish tone continuing yesterday’s showing. GHANA and NIGERIA closed weaker in yesterday’s late session as we saw heavy selling across the curve. Both oilers open in like manner. Oil fell for the first time in four days on the potential of US monetary policy tightening and signs that Chinese demand will
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-27/) - SSA opens mixed in similar showing to yesterday’s session.NIGERIA led gains in yesterday’s late session as recovery in Brent spurred up demand while GHANA continues to trade sideways.Oil prices remain stable on Wednesday as investors analyzed the implications of a significant increase of COVID-19 cases caused by the Omicron variant. Brent crude futures fell to
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-30/) - Tuesday's trading session continued on the fairly active tone from the previous session. The market participants mainly traded around the front to mid of the curve with Dec 26 trading around 20.850% levels. Activity on the back end of the curve remained quiet. March 22 COCOA also saw movement around 15.428% levels later on in
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-26/) - SSA opens soft. We expect volatility within the SSA markets within the next few days as liquidity returns to the market. Oil fluctuates near $79 a barrel ahead of OPEC+ meeting. OPEC+ is set to ratify a 400,000 barrel a day production increase for February when it gathers on Tuesday. Market has concerns that the
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-29/) - It was an active day on the secondary bond market in Friday's session as market participants closed their books to usher in the new year. The session saw trades concentrated at the front end of the curve with Jan 22 COCOA, Feb 22 COCOA, March 22 COCOA, May 22 and Nov 27 trading at 15.468%,
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-28/) - There was a considerable amount of activity on the secondary bond market in Thursday's session. There was a lot of activity concentrated at the the belly of the curve with May 26s and Nov 27s trading around 21.000% and 21.200% levels. Overall, the trading week remained fairly active and saw movement from the front end
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-27/) - There was a fair amount of activity on the secondary bond market in Wednesday's trading session. The market saw movement around the front to belly of the curve with March 24s and Dec 26s trading at 20.400% and 20.800% levels respectively. The book build for the January 22 3-Year GHS Denominated Treasury Bond (Rollover) with
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-25/) - SSA opens flat. Flow on the desk was healthy, with institutional investors and retail investors bidding the belly of the GHANA and NIGERIA curve, causing prices to tick higher with little liquidity to meet demand, we expect the scenario to be repeated until the end of the year.The price of Brent crude oil futures contract
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-26/) - Activity on the secondary bond market slowed down in Friday's session as market participants prepared to go on break for the holidays. The market however saw movement in May 22 COCOA, Jan 25s, Mar 24s and Dec 26s trading around 15.522%, 20.500%, 20.000% and 20.800% levels respectively. The IPG for the January 22 3-Year GHS
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-24/) - SSA Opens firm. Global markets are up today with UK and US equities futures trading up. The US dollar also ticked higher today as traders place bets that the global recovery can ride out omicron. Oil prices increased as uncertainties about omicron variant's effects on demand outlook in 2022 ease while supply outages also help
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-25/) - As expected, the market went quiet in Thursday's session as some market participants took short breaks for the holidays. The market however saw movement in Jan 23s trading around 19.150% levels. The newly issued Dec 26 still remains offered on the market with very few bids to match. The bookrunners have announced the issuance of
- [Eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-23/) - SSA opens flat. SSA markets were subdued with sellers of NIGERIA and GHANA away from their desks and those available weren’t selling much. Retail investors were seeking offers and generally chasing the market as it firmed. We expect more of the same today, as local investors seek to buy prior to the public holidays on
- [fx daily update](https://www.gfxbrokers.com/fx-daily-update-18/) - The interbank FX market was rather tepid in yesterday's session, owing to dwindling corporate demand. The pair ended the day weaker at 6.5700/6.6200. Due to consistent spot interventions by the regulator, bids and offers decreased marginally during the middle of the session, narrowing the bid-offer spread and lowering the level down to about 6.5600/6.6150 levels
- [Local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-24/) - Wednesday's trading session saw very little activity as some market participants are taking short breaks in line with the upcoming holidays.The session saw June 28 changing hands at 21.200%. The newly issued Dec 26 was mainly offered on the market as most participants on the buy-side have seemingly filled their positions with regards to this
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-22/) - SSA Opens flat. SSA markets were muted in yesterday’s sessions, as traders wind-down for the Christmas holidays. Retail investors were seen bidding the belly of the GHANA and NIGERIA curve, but the desk saw not much else. We start the day with a risk on sentiment within global markets as data comes through to back
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-23/) - Tuesday's trading session saw a fair amount of activity. Once again, activity was seen around the sell side, and funds with large AUM. The session saw trades in Nov 22 and March 32, trading at 17.000% and 20.700% respectively. We expect the market to take on a similar tone today, with expectations of it going
- [fx daily update](https://www.gfxbrokers.com/fx-daily-update-17/) - On Tuesday, spot trading was modest as the central bank held its weekly FX forward auction. On the interbank market, the pair remained stable at 6.5700/6.6250. It sold $40 million in the FX forward auction against a total offer size of around $17.95 million, resulting in a bid cover ratio of 4.30x. We expect continued
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-21/) - SSA opens flat to firm. Subdued trading in yesterday’s sessions as expected heading into the Christmas holidays as traders close their books for the year. Our desk saw risk appetite revive amongst institutional and retail buyers in the GHANA & NIGERIA belly of the curve and the Nigerian financials. Oil suffers its biggest decline of
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-22/) - There was a fair amount of activity in Monday's trading session. The session remained well offered, with most of the activity seen coming from the sell-side. The session saw trades in Dec 23s and July 26s, trading at 19.550% and 20.300% respectively. The newly issued Dec 26 was seen offered at 20.800% levels. There has
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-20/) - SSA opens soft. Global markets are under pressure as equity markets lose 2% in early morning sessions. Biden’s spending bill is halted, Omicron locks down the Netherlands and travel is restricted from the UK, a lot to rattle the markets. SSA markets are also weighed down this morning in line with a global risk-off sentiment.
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-21/) - The weekly trading session on the secondary bond market came to a quiet close on Friday as market participants took part in the weekly treasury bill auction. The market however saw movement in March 22s, May 22s and June 25s trading at 15.172%, 15.224% and 20.200% levels respectively.The B&FT reported that the GFIM has seen
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-20/) - There was a fair amount of activity in Thursday's session as market participants focused their attention on the primary market for the issuance of the 5- Year GHS-Denominated bond. The book- build ended at 5pm yesterday. The final clearing yield was 21.000% with GHS 923,799,557 in bids tendered. The market saw trades in Jan 23,
- [fx daily update](https://www.gfxbrokers.com/fx-daily-update-16/) - In yesterday's trading session, the USDGHS stayed steady around 6.6400/6.6650 levels, while the interbank market remained modest, with central bank intervention seen throughout the day and bids and offers coming from both domestic and offshore corporate clients. The pair rose consecutively this week, however FX liquidity improved to close the day, as offers grew stronger
- [Eurobond Market Commentary](https://www.gfxbrokers.com/eurobond-market-commentary-19/) - SSA opens flat to firm. SSA Markets reacted with a positive risk sentiment in yesterday’s sessions following the much-anticipated FOMC meeting. GHANA and NIGERIA were bid predominately in the short end, bringing much needed respite to the sovereigns. We expect the positive sentiment to continue into today’s early morning session. “Despite the current increase in
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-19/) - The IPG of "20.50% area" for the 5-Year GHS - Denominated Treasury Bond was released yesterday. The book-build still went according to plan and will end at close of business today. Wednesday's trading session saw movement in primarily the front end of the curve, with Jan 22s, Jul 23s and Jul 24s changing hands at
- [fx daily update](https://www.gfxbrokers.com/fx-daily-update-15/) - USD/GHS opened the midweek session at 6.6300/6.6600 and traded up to close at 6.6450/6.6700 on the back of offshore and domestic buying interest. The BoG was observed providing support on the day. Corporate demand has remained high but with the Central Bank's consistent intervention on the spot market, has helped calm corporate participants, significantly removing
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-18/) - The IPG of "20.50% area" for the 5-Year GHS - Denominated Treasury Bond was released yesterday. The book-build still went according to plan and will end at close of business today. Wednesday's trading session saw movement in primarily the front end of the curve, with Jan 22s, Jul 23s and Jul 24s changing hands at
- [fx daily update](https://www.gfxbrokers.com/fx-daily-update-14/) - USD/GHS opened the midweek session at 6.6300/6.6600 and traded up to close at 6.6450/6.6700 on the back of offshore and domestic buying interest. The BoG was observed providing support on the day. Corporate demand has remained high but with the Central Bank's consistent intervention on the spot market, has helped calm corporate participants, significantly removing
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-18/) - SSA opens soft. NIGERIA and GHANA were weighed down in yesterday’s sessions, increased inflation numbers reported in GHANA did nothing to help the present risk off sentiment. Retail investors continued to show interest in the short end as yields returned to pre-rally levels.The FED meeting delivered more than the market was expecting. The accelerated taper
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-17/) - On Tuesday, there was movement towards the tail end of the treasury yield curve with activity in May 28s and March 32s, both trading at 21.000%. The IPG for the 5-Year GHS - Denominated Treasury Bond was not released yesterday as expected. We however expect to see it before the book-build commences today. The month
- [fx daily update](https://www.gfxbrokers.com/fx-daily-update-13/) - Following Tuesday's auction, interbank spot trading was calm. USD/GHS opened the day at 6.6200/6.6400, but ended the day slightly higher, at 6.6400/6.6550. The Bank of Ghana sold $40 million in FX forwards against a total bid amount of $161.95 million at the FX forwards auction, t his equates to a 4.05x bid-cover ratio. Corporate FX
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-comentt/) - SSA opens soft. A subdued day in SSA trading, with not much changing hands. A few retail buyers chasing yields on the front end of the GHANA & NIGERIA curves. All eyes on the FED today with yesterdays U.S data showing producer prices at 11-year highs and goes to reinforce market expectations of faster stimulus
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-16/) - It was a quiet opening session on the secondary bond market yesterday. Though there was little activity, pockets of Jan 23s, Jun 25s and Mar 32s were seen trading at 19.000%, 20.400% and 21.100% levels.The Monetary Policy head stated during the annual banker's dinner that there was a financing gap which placed lot of pressure
- [fx daily update](https://www.gfxbrokers.com/fx-daily-update-12/) - To begin the week's trading session, the local unit maintained its downhill slide versus the dollar, closing at 6.6400/6.6650 levels, owing to limited liquidity on the interbank market and heightened demand from local and offshore investors. The regulator continues to support the local currency on the spot market around 5.9900 and is expected to give
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-17/) - SSA opens soft. Oil prices are falling due to investor worries about demand after renewed restrictions were imposed in Europe and Asia amid a rise in coronavirus cases. Brent Crude futureseased by 34 cents, to $74.05 a barrel. The greenback rose against each of the G-10 currencies yesterday as investors began to prepare for the
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-15/) - It was a quiet day on the secondary bond market to close out a fairly active trading week. The week saw a fair amount of movement in Jan 23s, Jul 24s, Jan 25s, Aug 26s and Nov 26s trading at 19.220%, 20.300%, 20.500%, 20.200% and 20.500% levels respectively. Mar 32s also changed hands 21.650% levels.
- [fx daily update](https://www.gfxbrokers.com/fx-daily-update-11/) - The local unit was on the ropes on Friday to close the trading session, despite flows from the central bank. Dollar demand has ramped up in the last couple of sessions, increasing the bid-offer spread to about 300 pips, with bids being seen from both local and offshore participants. Despite continued support from the Bank
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-16/) - SSA opens flat. Markets look towards this week’s central bank meetings. In focus is the FED and Powell, having set the stage for an accelerated taper we await to see how this will be achieved. Oil has continued to trade up as investors see omicron having less an impact on global demand as first thought.
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-14/) - There was a fair amount of activity on the secondary bond market in Thursday's session, taking a slight downturn as compared to the previous days. The market saw movement in the front end to belly of the curve, with Dec 23s and Jan 27s trading at 19.600% and 20.650% respectively.The e-levy still remains a contentious
- [fx daily update](https://www.gfxbrokers.com/fx-daily-update-10/) - On the interbank market, USD demand exceeded supply, causing the cedi to lose some of its gains. Central bank intervention trades were seen during the day to relieve pressure on the local currency, but the pair was heavily bid on the interbank market, mostly by corporates. Rates were at 6.6000/6.6300 at the start of the
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-15/) - SSA opens flat to soft. GHANA and NIGERIA showed weakness during yesterday’s session. The short end was still in demand, albeit offers were easier to find. The belly of the curve was net offered. We expect general weakness, heading back to ‘as you were’ scenario prior to rally. Oil prices seemed to have turned a
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-13/) - Wednesday's trading session continued on its active tone. There was a good balance between offers and bids with quite a few matching.The market saw movement in the front to middle of the yield curve, with Nov 22s, Jan 23s, Jul 24s, Aug 26s and Nov 26s, trading at 17.550%, 19.220%, 20.300%, 20.700% and 20.500%. There
- [fx daily update](https://www.gfxbrokers.com/fx-daily-update-9/) - The local unit fell somewhat towards the end of yesterday's session, owing to rising USD demand from local interbank participants in the face of restricted supply. The pair was heavily bid on the interbank market, primarily by corporates. At the start of the session, quotes were around 6.5500/6.5900, but by the end, offers had gone
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-14/) - SSA Opens flat to firm. SSA markets continued to rally in yesterday’s sessions as market ‘prices-in’ central banks rate hikes albeit delayed. We saw GHANA and NIGERIA move higher as we received news that the COVID variant is unlikely to be a major threat and Pfizer reported their booster neutralized omicron strain in testing. Oil
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-12/) - Tuesday's trading session experienced an uptick in activity on the secondary bond market. There was a fairly even split between bids and offers. The market saw activity across the curve in Dec 23s and Mar 32s, trading at 19.650% and 21.650%. Pockets of 27s also changed hands at 20.75%. The buy side is showing strategy
- [fx daily update](https://www.gfxbrokers.com/fx-daily-update-8/) - The local unit strengthened towards the end of Tuesday's session as a result of increased USD liquidity in the market from both offshore and domestic interbank players. The USD/GHS pair began Tuesday's session at 6.5800/6.6100 and finished at 6.5600/6.5900 levels. In the weekly forwards auction, the Bank of Ghana's support stood at $40m at 6.0375-6.0715
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-13/) - SSA opens firm. SSA rallied yesterday on general market risk-on sentiment brought about by renewed omicron optimism. Global markets soared on hopes that Omicron would prove less damaging to the global economies than feared. GHANA and NIGERIA short dated were in demand during yesterday’s sessions, bids eventually moving up the curve in search of offers.
- [fx daily update](https://www.gfxbrokers.com/fx-daily-update-7/) - The spot session on Monday was flat, with the pair completing the day on the interbank market at 6.5900/6.6150 levels. Due to rising USD demand from local inter-bank players and restricted supply, the local currency will be under duress if this trend continues. On the day, central bank intervention trades were observed to ease pressure
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-11/) - It was a fairly active opening session on the secondary bond market yesterday. Although the market remained well-offered, there was activity on both the buy and sell side. Participants on the buy side with smaller AUM however indicated that rapid withdrawals from clients was taking a heavy toll on their investment strategies. They indicated that
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-12/) - SSA opens firm this morning. A very interesting day in the markets yesterday, especially GHANA & NIGERIA. Bids and offers continued to widen as traders held onto their bonds and bids were not willing to trade outside market context. Upward price boosters for oilers today include Saudi Arabia's decision to raise crude prices to Asian
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-11/) - This morning, SSA opens soft across board. GHANA and NIGERIA continue to trade sideways with early bids skewed towards the front end of their curves. Oil prices bounced back after Saudi Arabia, the top exporter increased prices of crude it sold to the US and Asia despite the fact that OPEC+sticked to their plan of
- [fx daily update](https://www.gfxbrokers.com/fx-daily-update-6/) - FX liquidity improved on Thursday, with the USD/GHS ending at 6.6100/6.6300. Corporate FX flows were moderate, the interbank 2-way gap decreased, and the central bank's daily spot interventions continued. The pair started the session with a quotation of 6.6000/6.6500, but the offer strengthened throughout the session, hitting 6.6400. Despite signals that the cedi is recouping
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-9/) - The Dec 2021 2-year GHS Denominated Treasury Bond (Rollover) issuance raised around GHS 1.59 Billion with the final pricing guidance of 19.75%, with settlement today. Activity in the session was skewed towards the front end of the curve, mostly around 23s. Jan 23, March 23, Nov 23 and Dec 23 were traded at 19.150%, 19.100%,
- [daily fx update](https://www.gfxbrokers.com/daily-fx-update/) - USD/GHS opened the midweek session at 6.6100/6.6500. Corporate demand remained consistent as the BoG was seen providing support in the 6.000-6.0567 range. On the corporate front, Consistent intervention by the Central Bank on the spot market has also helped to calm corporate players, markedly removing panic buying interests from the market as indications of liquidity
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-10/) - As predicted, the secondary market went quiet in Wednesday's session as most market participants turned their attention to the primary market. The book-build for the Dec 2021 2-year GHS Denominated Treasury Bond (Rollover) started yesterday at 9am, with an IPG of "19.00% area", and is expected to end at close of business today. The market
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-10/) - SSA opens on a weak note. Oil prices are on the rise today, ahead of new decisions by OPEC+ . The Omicron variant had weighed heavily on oil prices in recent days. GHANA bonds were bid, especially the short end in yesterday’s sessions as the short sellers covered their positions. We wait to see whether
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-9/) - SSA opens firm.Markets are buoyed this morning following Powell’s ditching the idea that inflation is transitionary, paving the way to rate hikes.GHANA and NIGERIA were weighed down by a global risk off sentiment in yesterday’s session. Oil prices rebounded ahead of an OPEC meeting to discuss how to respond to the threat of the Omicron
- [fx daily update](https://www.gfxbrokers.com/eurobond-market-commentary-8/) - Tuesday's session saw the USDGHS pair remain steady, completing the session at 6.6000/6.6300 levels. The local unit gained marginally in yesterday's session due to increased USD supply from local interbank players, with the Bank of Ghana intervening with $40m at 6.0235-6.0595 on the day in the weekly forwards auction, compared to the $170,200,000M tendered bids
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-8/) - The secondary bond market took on a very quiet tone in Tuesday's session, a stark contrast to the same time last week. Participants on both the buy and sell side remained mostly quiet with movements in Aug 27s, Nov 27s, March 32s and Aug 39s popping up near the end of the session. Pockets of
- [fx daily update](https://www.gfxbrokers.com/fx-daily-update-5/) - On Monday, FX liquidity improved, the USD/GHS was better offered than in previous sessions. The interbank 2-way tightened, and the central bank's daily spot interventions persisted. The pair started the session with a quote of 6.6000/6.6500, but the offer strengthened with time, eventually reaching 6.6350 levels. Despite signs of the cedi recouping some of its
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-7/) - The secondary bond market saw minimal activity on the buy side, and a fair amount of activity on the sell side in Monday's trading session. From conversations with some participants on the buy side, maintaining ample liquidity seems to be a priority in light of the upcoming festive season.The IPG for the Dec 2021 2-year
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-7/) - SSA opens soft. SSA is weighed down by a global risk off sentiment as traders sell assets and move to safe havens. Fears that the vaccine's resistance may lead to more illness, prolonging the pandemic, have rung up alarm bells in the financial markets. Oil prices cannot shake off Omicron fears, as Brent futures continues
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-6/) - SSA opens firm across board this morning. The Omicron virus pushed SSA 1.5-2octs lower on Friday as panic set into global markets. The reversal this morning points to an overreaction on Friday. There was some ‘Drama’ in Ghana at the end of last week as the controversial budget was rejected by parliament. It is due
- [fx daily update](https://www.gfxbrokers.com/fx-daily-update-4/) - Due to limited liquidity at the end of the trading week, the USD/GHS encountered some pushback on Friday. The session saw very little movement, with the level opening around 6.5700/6.6300. However, signals of greater bids emerged with no offers to match them, extending the bid-offer gap and the level to around 6.5800/6.6500 by the session's
- [Local Currency Market Commentary](https://www.gfxbrokers.com/local-currency-market-commentary-6/) - The market saw movement in Oct 24s and Jun 25s, which traded at 20.100% and 20.500% levels respectively, to end the week. The bond market specialists and deal team also announced the rollover of the Dec 2021 2-year GHS Denominated Treasury Bond. The book build starts on Wednesday at 9am and ends on Thursday at
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-5/) - The market saw movement in Oct 24s and Jun 25s, which traded at 20.100% and 20.500% levels respectively, to end the week. The bond market specialists and deal team also announced the rollover of the Dec 2021 2-year GHS Denominated Treasury Bond. The book build starts on Wednesday at 9am and ends on Thursday at
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-4/) - Thursday's trading session continued on the quiet tone from Wednesday's session. Activity was concentrated at the front end to belly of the curve with Oct 24s and Jun 25s trading at 20.100% and 20.300% levels respectively, while the back end of the curve remained mute. We expect a quiet tone in today's session as attention
- [fx daily update](https://www.gfxbrokers.com/fx-daily-update-3/) - The local currency continues to lose ground against the US dollar. Following the dollar holiday on Thursday, the pair was highly bid on the interbank market, primarily by offshores. Quotes opened at 6.5400/6.5600, but by the end of the session, offers had increased to 6.5900 levels. The central bank intervened on the day, but given
- [Eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-5/) - SSA opens soft. We are bracing for a weak day in SSA trading as global markets are rattled by the discovery of a new South African variant. Opens lean towards a sell off as a risk off sentiment returns to the space. Oil prices have decreased this morning, with traders focusing on how OPEC+ will
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-4/) - SSA opens on a firmer note, continuing on from yesterday’s rally.Oil prices edged downwards as investors await OPEC+ measures to counter Biden’s plan to reduce energy and control inflation. NIGERIA’s GDP grew by 4.03% (year-on-year) in real terms in the third quarter of 2021 representing a slower growth compared to 5.01% recorded in the previous
- [FX Daily Update](https://www.gfxbrokers.com/fx-daily-update-2/) - The USD/GHS currency pair ended the midweek session at 6.5350/6.5600 levels. Despite central bank engagement on the day, interbank activity was weaker than in prior sessions, as the market remained net bid. FX demand remains high from both domestic and offshore participants, although FX liquidity in the domestic interbank market remains severely constrained. We anticipate
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-3/) - Wednesday's trading session took on a rather quiet tone on the secondary bond market. The market remained well offered with activity concentrated at the front end of the curve. This reflects the buy side's strategy to buy shorter term securities due to a general risk-off sentiment. The session saw activity in May 22 CMB, Nov
- [FX Daily Update](https://www.gfxbrokers.com/fx-daily-update/) - The USD/GHS pair finished higher on Tuesday, at 6.5200/6.5350, owing to rising corporate demand, with central bank trades accounting for the majority of the session's activity. In yesterday's weekly FX auction, the Bank of Ghana (BoG) sold around $40 million against submitted bids of $161,750,000M in the 5.9900–6.100 range, resulting in a 4.04x bid-cover ratio.
- [local currency market commentary](https://www.gfxbrokers.com/local-currency-market-commentary-2/) - Tuesday's trading session continued on the fairly active tone of the previous day. The investors are slowly venturing into the market again after last week's budget reading. The session saw a lot of movement at the front end of the curve, most of which were 23s, 24s and 25s. Nov 22s were also trading at
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary-3/) - SSA opens strong this morning. Biden’s plan to release 50 mio barrels of strategic stock in an effort to bring down spiraling energy pricing may need a rethink as prices ticked higher above $80 a barrel. Market had priced in 100 mio barrels. The agreement by the oil producing countries release of 80 mio barrels
- [fx daily market update](https://www.gfxbrokers.com/fx-daily-market-update-2/) - On Monday, the USD/GHS uptrend came under some pressure to begin the trading week. There was very little action during the session; however, in the second half of the day, hints of improved offers surfaced, closing the bid-offer gap and dropping the level to roughly 6.5000/6.5200 by session's end. Corporate FX demand remains high, and
- [Local Currency Market Commentary](https://www.gfxbrokers.com/eurobond-market-commentary-2/) - The trading week opened with a fairly active session on the secondary bond market. The market had a good number of offers and bids, with a few of them matching. The session saw trades in Aug 26s, Nov 26s, Nov 27s and Jun 28s at 20.950%, 20.550%, 20.700% and 21.000% respectively. There was also a
- [Eurobond Market Commentary](https://www.gfxbrokers.com/local-currency-market-commentary/) - SSA opens soft this morning. Oil prices rose on Monday, rebounding from recent losses, on reports that OPEC+ could adjust plans to raise oil production if large consuming countries release crude from their reserves. Nigeria has had a difficult time of late. The desk saw selling in the belly of the curve. All oilers have
- [FX Daily Market Update](https://www.gfxbrokers.com/fx-daily-market-update/) - On Friday, the cedi was under pressure versus the dollar as corporate demand remained strong and spot closed higher as the market remained net bid. We saw a pick-up in USD supply late in the session but the rates were rather high, according to insiders, the central bank was a no show to end the
- [eurobond market commentary](https://www.gfxbrokers.com/eurobond-market-commentary/) - SSA opens flat, leaning towards soft. Ghana continued to be well bid across the curve in Friday’s sessions. We wait to see by the sovereign’s direction if this was merely due to traders covering their short positions or real Investors seeing value at the depressed price. Brent extends price drop after chances of a coordinated
- [Local Currency Market commentary](https://www.gfxbrokers.com/ghana-market-commentary-282/) - The trading week came to a quiet close in Friday's trading session as market participants turned their attention to the weekly Treasury Bill Auction. Other participants on the buy side also maintained their "wait and see" stance, to gauge how the market plays out after the budget reading. The market saw bid interest pick up
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-281/) - Activity picked up slightly in Thursday's trading session as market participants cautiously ventured into the market, after Wednesday's budget reading. Conversations with some participants on the buy side showed that trading and investment strategies would not change significantly given the economic direction the country was taking. For others, the strategy was to "wait and see".
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-280/) - Wednesday's trading session took on a quiet tone as the Finance Minister read out the 2022 budget in parliament. The major takeaways from the budget included steps to ensure debt sustainability while providing a fiscal stimulus for aspiring entrepreneurs to boost job creation. The Book Build for the 5-year USD denominated Treasury Bond Issuance started
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-279/) - The trading week continued its net-offered tone in Tuesday's session, with the buy side still waiting to see the investment climate after the budget reading today, scheduled for 10am. The Minister of Finance is expected to focus parts of the budget on youth entrepreneurship and digitization of the economy. The trading session however saw trades
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-278/) - The opening session for the week experienced an uptick in activity on the secondary bond market. Although still net-offered, there was an improvement in the number of bids seen. The market saw activity primarily in the front end of the curve with Sept 23s and Jun 25s trading at 19.950% and 20.400% levels respectively.Some market
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-277/) - The trading week came to a close with a fairly quiet session on Friday. The market participants turned to the primary market for the issuance of the 182-day Cocoa Bill with same day settlement.The market remained net-offered with most activity at the front end of the curve. Nov 23s changed hands at 19.900% levels. We
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-276/) - The trading week came to a close with a fairly quiet session on Friday. The market participants turned to the primary market for the issuance of the 182-day Cocoa Bill with same day settlement.The market remained net-offered with most activity at the front end of the curve. Nov 23s changed hands at 19.900% levels. We
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-275/) - The secondary bond market continued to see an elevation in the yield curve on Thursday, as the net-offered tone from previous sessions persisted.The market was mostly focused on short term maturities with pockets of Nov 22s trading at 18.25% levels. The 182-day Cocoa Bill auction kicks off at 9am GMT today and closes at 12:30pm
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-274/) - The secondary bond market saw minimal activity in Wednesday's trading session. The market remained net-offered with just a few bids seen mainly in 22s as some participants on the buy side were holding on to funds in anticipation of Friday's 182 day Cocoa Bill auction. July 31s traded at 21.150% levels. Today's session is expected
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-273/) - Activity picked up in Tuesday's trading session after the previous week's primary issuances settled. There was activity spread across the curve, though more skewed towards the front end of the curve. The market saw activity in Dec 22s and Jul 31s trading at 18.200% and 21.650% levels respectively. Also, small pockets of the Nov 23
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-272/) - Monday's trading session saw little activity on the secondary bond market as most participants on the buy side used up funds on the primary issuances the previous week. The session saw trades in Jan 22s, Nov 22s, Sept 23s and March 32s at 16.00%, 17.44%, 18.42%, and 19.47% levels respectively. Offers were seen for the
- [ghana market commentary](https://www.gfxbrokers.com/ghana-maret-commentary/) - Thursday's trading session took on a subdued tone as market participants turned to the primary market for the book build which took place all day, ending at 6pm.The final clearing yield for the 2-Year GHS Denominated Treasury Bond (Rollover) was 20.000%, with GHS 1,361,099,940 in bids tendered. The 6-year GHS Denominated Treasury Bond also saw
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-271/) - As predicted, the secondary bond market went quiet on Wednesday as market participants turned their attention to the primary issuance of the 2 year GHS denominated bond ( Rollover) and the tap issuance of the 6-year GHS denominated treasury bond ( Re-opening tender 1703 ). The Initial Pricing Guidance was released to the public around
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-270/) - Tuesday's trading session saw very little activity on the secondary bond market as participants on the buy side complained of a general scarcity in liquidity. The market saw trades in the front to belly of the curve with Jan 23s, March 25s, March 26s and July 26s trading at 19.700%, 19.900%, 20.100% and 20.000% levels
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-269/) - Monday's trading session saw an increase in activity on the secondary bond market, compared to the previous week's opening session. The market saw activity at the front end of the curve with Jan 23s, Dec 23s and March 24s trading at 20.350%, 19.850% and 20.050% levels respectively. Bids, though less prevalent than offers, picked up
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-268/) - The trading week came to a close with an increase in the number of bids on the bond market, as funds trickled in to the fund managers. The session saw trades skewed towards the front end of the curve with 23s, 25s and 27s trading at 20.000%, 20.25% and 20.50% levels respectively. There were also
- [ghana market commentary](https://www.gfxbrokers.com/1857-2/) - Thursday's trading session saw a slight improvement in bidding interests with activity still focused mainly around 23s and small pockets of 25s trading around 19.90% and 20.00% levels respectively. Jul-31s also gained traction, trading at 20.00% levels. We expect a calm trading session to close out the week, as the market focuses on the weekly
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-267/) - The midweek trading session generally followed the tone of recent sessions; the market remained mostly offered with little to no bid interest. Activity stayed mostly around the front-end of the curve, where 23s traded between 20.20% - 20.50% levels. The belly to the back end of the curve saw very little traction. We expect a
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-266/) - The net offered tone of recent trading sessions persisted in Tuesday's session. Trading activity remained minimal with interest largely skewed towards the front-end of the curve where 22s changed hands at 18.30%. Decent clips of early 23 maturities were also offered around 20.50% levels. Selling interest in recent sessions has largely been from offshore investors, with
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-265/) - The secondary bond market remained net-offered in yesterday's session. Activity was minimal on the day and largely focused at the front-end of the yield curve where 22s traded at an average yield of 17.60%. The newly minted Oct-24 bond was also paid at 18.75%. We expect a quiet session today as focus turns to the
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-264/) - There was a retreat in bid interest on the secondary bond market yesterday. Offers flooded the market amid risk off sentiment from offshore investors. Offers were particularly aggressive at the front-end of the yield curve in 22 and 23 maturities. As a result, yields across the curve backed by an average of 30bps. We expect
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-263/) - Local bid interest remained robust in yesterday's market session. At the front- and mid-end of the yield curve Jan-23s and Jan-27s traded at 19.00% and 19.90% respectively. At the back-end 32s were paid at 20.10% levels. We expect a similar narrative in today's session. USDGHS spot closed higher at 6.2450/6.2600.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-262/) - There was a strong uptick in activity on the secondary bond market yesterday amid strong cedi inflows. Bid interests were particularly strong at the front-end of the yield curve. Offers in 22s and 23s thinned out as the session drew to a close after both tenors had rallied by about 90bps and 35bps respectively during
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-261/) - Fair activity in local currency bonds in Thursday's session with trading activity largely concentrated around 32s which were paid around 20.90% levels. Also, 22 maturities dealt in the range of 18.25% ─ 18.50% and Jan-23s traded at 18.90%. On the primary market, the treasury raised roughly GHS948 million at the 3-year bond auction. The final
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-260/) - The bond market traded flat yesterday with yields largely unchanged from the prior session amid persisting liquidity constraints. Small volumes of 23s and 27s were observed trading at 18.30% and 19.30% levels respectively. We reckon cedi liquidity will improve in coming sessions on the back of today's GHS1.5 billion BOG bill maturity. However, we expect
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-259/) - It was a quiet start to the trading week on the secondary bond market yesterday with many participants still in search of liquidity. Price action was largely dominated around the front-end of the yield curve where 2023 maturities were paid at 18.30% levels. We expect a similar narrative in today's session. USDGHS ended yesterday quoted
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-258/) - Another quiet day in bond trading on Friday amid tight GHS liquidity. Although offers on the market were quite high, with 2023s offered around 17.70% and 2025s around 18.20%, bids were largely non-existent on the day. We anticipate that the GH¢1.5bn 14-day BoG bill maturing on Wednesday will improve liquidity conditions somewhat in the coming
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-257/) - The bond market remains bearish amid tight liquidity conditions. Activity was largely muted across the curve. We observed small clips of Oct-25s and Jan-27s trading around 18.20% and 19.25% levels. We expect a quiet session today to close out the trading week. USDGHS spot closed at 6.2150/6.2350.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-256/) - The secondary bond market continued very much in the same way as in recent sessions. The market remained net offered with very few bids seen given local liquidity conditions. We expect activity to pick up somewhat in coming sessions. USDGHS spot closed higher for the second straight session at 6.2100/6.2300.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-255/) - As expected secondary bond market activity remained muted in Tuesday's session as the net offered tone from recent sessions persisted. Interbank liquidity also remains tight. However, we expect today's GHS1.5 billion maturity in BOG bills to boost liquidity in coming sessions. In other news foreign investor holdings of local debt declined last month to 19.18%
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-254/) - It was a quiet start to the trading week with activity on the bond market largely quiet. Liquidity remains thin and as a result the market remains net offered. Bidding also remains defensive and we expect similar in today's session amid tight liquidity. USDGHS closed yesterday's session higher at 6.1900/6.2100.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-253/) - Market activity improved in yesterday's trading session though the market remains largely offered. The recently minted 2-year note and Jan-27s changed hands around 17.45% and 19.00% levels respectively. We expect the coming sessions to be active as local bidders return towards the end of the week as month-end flows trickle in. GHS/USD spot closed yesterday's
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-252/) - It was a quiet start to the trading week yesterday with market activity minimal. Small sizes of Feb-23s and Mar-25s were paid at 17.30% and 18.15% respectively. We expect activity to pick up in coming sessions supported by improving GHS liquidity. In other news, the central bank opted to keep interest rates unchanged at 13.50%
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-251/) - Local currency bonds continued to be net-offered in Thursday's session with trading activity largely concentrated around early 23 maturities which were paid around 17.25% levels. Also, the recently issued Sep-27 paper dealt in the range of 18.70% ─ 18.80%. On the primary market, the treasury raised GHS917 million at the 2-year note auction. The final
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-250/) - A quiet session in bond trading yesterday with the market net-offered as cedi liquidity remained thin. Decent sizes of 21s and 23s were offered on the day with no bids to match. We expect a similarly quiet session ahead as market participants focus on the 2-year auction. USD/GHS spot closed lower at 6.1450/6.1550.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-249/) - Activity on the secondary bond market was fairly subdued in yesterday's session after an active start. Pockets of 23 maturities were seen trading in the 16.95%-17.25% range ahead of an anticipated 2-year bond auction next week. We expect a fairly quiet end to the trading week with the weekly bills auction in focus. USDGHS remained
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-248/) - Trading on the secondary bond market continues to be muted with price action still largely focused at the front-end of the yield curve. Late 22 maturities, Dec-23s and Mar-24s changed hands around 15.80%, 17.15% and 17.30% levels. We expect a similar narrative in today's session. On the data front, Ghana's economy expanded 3.9% in second
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-247/) - Another quiet session in bond trading on Tuesday with the market biased toward the front-end of the yield curve. There, Nov-21s were paid at 14.75%. The mid- and back-ends of the curve were largely quiet. We expect activity to remain largely muted for the rest of the week as GHS liquidity remains thin. In other
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-246/) - It was a calm session to start the trading week with activity largely quiet. Price action on the day was little and largely focused at the front- and mid-section of the yield curve. Nov-21s, Apr-24s and Nov-26s were paid at 14.00%, 17.35% and 18.70% respectively. Market activity could remain muted in the coming sessions amid
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-245/) - It was fairly quiet on the secondary bond market on Thursday with market participants focused on the 6-year bond auction. Decent activity was observed at the wings of the yield curve where Aug-22s and Aug-39s traded at 15.70% and 19.60% respectively. On the auction front, the final clearing yield of the 6-year bond was 18.80%,
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-244/) - A quiet session in bond trading to start the week. Price action on the day was little and largely focused at the belly of the yield curve, where 26 and 27 maturities were paid at 18.52% and 18.90% respectively. At the wings of the curve, we observed 24 and 32 maturities trading at 17.48% and
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-243/) - Fair trading seen across the curve as GHGBs continue to trade range bound. Yesterday's price action was in early 23s at sub 17% levels and Mar-32s at 19.30%. Regarding credits, it was announced that ESLA PLC will be opening an exchange offer, where it will be taking ESLA 24s and giving ESLA 29s in return.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-242/) - A moderately active trading session yesterday with the back-end of the curve in focus. Price action on the day was concentrated mainly in Jun-28 and Jul-31 at 18.55% and 19.25% respectively. 23 GHGBs were also seen trading at sub 17% levels. We expect trading turnover to improve in today's session.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-241/) - A fairly active start to the trading week with price action seen across the yield curve as investors await information regarding a potential 6-year primary market issuance. 22s, 23s, 24s, and 27s were seen changing hands at 15.24%, 17.00%, 17.45% and 18.67% respectively. Small clips of Aug-39s also traded at 19.60%. We expect activity to continue to
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-240/) - It was an active session in GHGB trading yesterday with price action mainly in 23 and 24 maturities. Jul-23s and Dec-23s changed hands at 17.00% and 17.10% respectively, while Mar-24s and Apr-24s traded at 17.30% levels. At the belly of the curve, late 27s traded in the range of 18.60% – 18.65%. We expect a
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-239/) - A fairly active session in bond trading yesterday with price action observed across the yield curve. At the front-end, 23s and 24s traded at average clips of 16.80% and 17.35% respectively. 26 maturities were paid at 18.50% levels while at the back-end Mar-32s traded at 19.50%. We expect a similar session today. USD/GHS closed the
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-238/) - Price action in GHGBs yesterday was largely dominated at the front-end of the yield curve with 22s and 23s in focus. Aug-22s and Oct-22s were observed trading at 15.35% and 15.40% respectively. Also, early 23 maturities changed hands at an average yield of 17.73%. At the mid- and back-end of the curve, decent sizes of
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-237/) - Duration coming back into play with Mar-32s and Aug-39s the centre of attention in GHGB trading yesterday. Good volumes of 32s and 39s traded at 19.30% and 19.65% respectively. Interest was also seen in Jul-31 at 19.45% levels but no firm trades were seen going through. We expect investor hunt for duration to continue in
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-236/) - Despite improved investor sentiment the theme of front-end over duration continues to dominate GHGBs trading. Last week Friday's session saw price action mainly in 22s, 23s and 24s at an average yield of 15.40%, 17.05% and 17.40% respectively. Most actively traded bonds on the day included Nov-22s, Sept-23s and Mar-24s. We expect a fairly active trading week
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-235/) - Price action in GHGBs yesterday was focused in the front- and mid-section of the curve in contrast to our expectation. 23s and 24s were in the spot light. Feb-23s, Jul-23s and Sept 23s were seen trading at an average yield of 16.80%, 17.10% and 17.10% respectively. Strong bidding interest in Mar-24s saw the bond trade
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-234/) - Fair trading seen in GHGBs in yesterday's session with investor focus shifting to the mid- and back-end of the curve. Mar-32s and Aug-39s dominated the session with decent volumes changing hands at an average yield of 19.67% and 19.95% respectively. The popular Mar-26 (among local buyside names) was also seen trading at 18.30% levels. We
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-233/) - Secondary market trading picked up yesterday with focus predominately still in near-end GHGBs. May-22s, Oct-22s and Aug-22s traded at an average yield of 15.75%. Feb-23s also changed hands at 16.85%. The back-end of the curve saw small clips of Mar-32 and Aug-39 trade at 19.50% and 19.60% respectively. We expect investor interest to gravitate towards
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-232/) - Ghana local currency bonds started the week on a sluggish note with very little price action seen in yesterday's session. Money market interest dominated trading with Sept-21s, Oct-21s and Aug-22s seen trading at 15.10%,15.15% and 15.80%. Small clips of Mar-26 also changed hands at 18.20% levels. We see activity picking up in coming sessions as
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-231/) - Market participants remained focused at the front-end of the curve in bond trading yesterday. The newly minted 2-year note was observed trading at 17.12% while mid 22 maturities changed hands at 15.70%. We anticipate a fairly quiet session to close the week. USD/GHS closed quoted at around 6.0800/6.1000 levels.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-230/) - A fairly quiet start to the trading month. Price action on the day was dominated at the front-end of the curve. May-22s and Nov-22s were seen trading at 16.10% and 16.90% respectively while the newly minted 2-year was observed trading at 17.05%. Pockets of trades were also seen in 26 and 32 maturities. We expect
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-229/) - A fairly quiet session in bond trading on Friday to close out last week. Price action was mainly observed at the front-end of the yield curve. Sept-21s and Mar-23s were seen trading at 15.15% and 17.15% respectively. Decent clips of 26 and 28 maturities also traded at 18.40% and 18.25% respectively. We expect an active
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-228/) - An active session in bond trading yesterday as final price guidance for the upcoming 2-year note came in at 17.25%. Price action on the day was seen at the front-end with early 23 maturities trading at 16.80% levels. At the 2021 mid-year budget review, the government reaffirmed its target budget deficit for 2021 at 9.5% of
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-227/) - A fairly active session in bond trading yesterday with price action focused at the belly of the curve. Mar-26s and Jan-27s traded at 18.30% and 18.85%. Decent clips of the recently issued 10-year also traded at 19.55%. We expect a similar session today as market participants await IPG for the upcoming 2-year.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-226/) - Price action was flat to close out last week. Aug-22s traded at 16.40% and the recently issued 10-year paper also changed hands at 19.65%. We expect activity to pick up this week driven by local buyside flow. USD/GHS closed last week at 6.0500 levels.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-225/) - Market participants remained focused at the front-end of the curve in bond trading yesterday, where Oct-22s and Mar-24s were observed trading at 16.50% and 17.70% respectively. We anticipate a fairly quiet session to close the week.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-224/) - A fairly active session in GHGB trading yesterday with price action focused at the front-end of the curve. 22 and 23 GHGBs were strongly sought after as market participants continue to reduce duration risk. Nov-22s and Dec-22s changed hands at an average yield of 16.80%. Mar-23s also traded at 17.10%. The back-end of the curve remained
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-223/) - Price action in the secondary bond market yesterday was largely observed at the belly of the curve; Mar-26s changed hands at 18.65%. We also observed some activity at the front-end, where Sept-21's traded at 15.90%. On the primary front, the treasury raised GHS820.6 million of 10-year bonds at 19.75%. We expect a calm session in
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-222/) - Fair activity in bond trading yesterday as IPG for the upcoming 10-year issuance was announced at "19.40% area". The statistical service also announced headline inflation for June which came in at 7.8%. Price action on the day was seen in 22 maturities: Jul-22s and Aug-22s traded at 17.25% and 17.30% respectively. Decent clips of Mar-32s also
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-221/) - Price action in the secondary bond market yesterday was focused at the belly of the curve. 26 and 27 maturities traded at average clips of 18.30% and 18.50% respectively. We expect the IPG for this week's 10-year bond auction at 19.25 - 19.75%. We expect a similar narrative in today's session. GHS/USD closed yesterday quoted at
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-220/) - There was muted activity in bonds as market participants awaited IPG on upcoming 10-year issuance which will be released later today. Price action on the day was seen in 26 maturities at an average yield of 18.50%. GHGBs to watch going into the open include May-26s, Jul-26s and May- 28s. GHS/USD closed at 5.975/5.995.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-219/) - A fairly active session in bond trading yesterday. There was increased local buy-side demand as the net offered tone of previous sessions led to a slight increase in yields across the curve. At the mid-end, we saw good volumes of May-26s trade at 18.65%. At the back-end, decent volumes of Mar-32s also traded at 19.40%.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-218/) - It was a fairly active trading session yesterday with decent bids coming into the market following the well offered dynamic witnessed in previous sessions. 22 maturities were in the spotlight with decent volumes of Jan-22s and May-22s trading at 17.20% and 17.35% respectively. The mid-section of the curve also saw clips of May-26(18.80cpn) trade at
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-217/) - Risk-off sentiment dominating markets at the start of the week as more offers than bids continue to be seen. A bit of price action was seen in 21 maturities with Jul-21s and Dec-21s changing hands at 15.10% and 15.40%. We expect trading activity to pick up with local buyside demand slowly trickling in to buy
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-216/) - It was a quiet trading session to start the new month with little activity observed across the curve. Dec-21s, Jul-22s and Mar-26s however saw some price action. We anticipate a fairly quiet session to close the week. GHS/USD spot closed around 6.0100 levels.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-215/) - It was a fairly active session in bond trading yesterday with activity mainly driven by local buyside as fund managers sought to invest cash balances before the close of the quarter. Mar- and May-26s traded at an average yield of 18.10%. The back-end of the curve also saw decent volumes of Mar-32s and Aug-39s trade at 19.30%
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-214/) - It was a fairly quiet start to the trading week. There was decent activity at the front- and mid-end of the curve where Oct-22s, Mar-26s and May-26s changed hands at 15.50%, 18.05% and 18.15% respectively. The back-end remain net-offered with Aug-39s closing the session offered at 19.30%. We expect activity to pick up in the
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-213/) - Price action in the secondary bond market yesterday was focused at the back-end. Mar-32s and Aug-39s were seen changing hands at 19.25% and 19.30% respectively. We expect a similar narrative in today's session. GHS/USD closed yesterday quoted at 5.92/5.95 levels.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-212/) - GHGBs opened yesterday with the belly and back-end of the yield curve largely offered. Market participants remained mostly inactive following the 7-year auction. Price action on the day was seen in May-22s, Aug-22s and Aug-39s at 16.50%, 16.15% and 19.50% respectively. We anticipate activity to pick up as the week comes to an end. GHGBs
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-211/) - It was a fairly active session in bond trading yesterday. Activity was spread out across the curve: at the front-end Jul-22s traded at 16.00%, 26s traded at an average yield of 18.00% at the belly while the back-end saw Mar-32s and Aug-39s change hands at 19.05% and 19.50% respectively. We expect a similar session ahead
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-210/) - Following last week's GHS1.86 bio 7-year issuance, price action on Friday was fairly flat. 29s and 39s changed hands at 18.20% and 19.15% respectively. We expect activity to pick up this week with local buyside flow driving market activities. GHS/USD closed last week at 5.8550/5.8750.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-209/) - It was a quiet trading session yesterday with the 7-year auction underway. Most actively traded bonds on the day were May-26s, Jan-27s and Aug-39s at 18.05%, 17.90% and 19.50% respectively. The government raised a total of GHS1.86 billion against a target of GHS1.80 billion in the new issuance at a rate of 18.10%. We expect the
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-208/) - GHGBs with 2026 maturity saw the most flow on the secondary market in yesterday's trading session. Mar-26s, May-26s and Nov-26s traded at an average yield-to-maturity of 17.85%. The back-end of the curve also saw good traction in Aug-39s at 19.32%. We anticipate a potential spike in interest for near-dated GHGBs as the book build process
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-207/) - Muted activity in bonds as market participants awaited IPG on upcoming 7-year issuance which was released this morning at 17.60% - 18.10%. Price action on the day was seen in Mar-24s, Nov-26s and Aug-39s at 16.60%, 18.05% and 19.27%. We expect to see decent onshore and offshore participation in the new issuance. GHGBs to watch
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-206/) - It was an uneventful start to the trading week in GHGBs as most market participants sat out the session awaiting IPG for the upcoming 7-year issuance. Price action on the day was seen in 24s, 26s and 29s at 16.70%, 17.65% and 18.20% respectively. We expect activity to pick up at the front-end of the
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-205/) - It was an active session in GHGB trading last week Friday the bond market. We saw 22, 26 and 27 maturities change hands at 16.50%, 18.10% and 18.45% respectively. The theme of lower yields in GHGBs remains in play. On the data front, the issuance calendar for June-August was released. Government will look to raise a total
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-204/) - It was another active session on Thursday in GHGBs trading with the belly of the curve still in focus. Price action yesterday was seen in 25s and 27s at 18.05% and 18.62% respectively. The back-end of the curve saw decent volumes of 32s trade at 19.15%. We expect a similar trading session ahead today. GHS/UDS
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-203/) - GHGBs continued their recent rally in yesterday's session with the mid-section of the curve seeing the most price action. 23s, 24s, 25s and 26s rallied on average 20bps on the day. Demand remains fairly strong from local and offshore accounts thus we see GHGBs closing the week strong. GHGB to keep an eye on going
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-202/) - It was an active session in GHGB trading yesterday with the front- to mid-section of the curve in focus. We saw strong bidding interest from both local and offshore accounts in 23s, 25s and 26s at average yields of 17.00%, 18.00% and 18.45% respectively. The back-end of the curve was, however, muted. A two-way quote
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-201/) - A mixed session in bond trading yesterday with the market opening on an upbeat note. Price action in the first half of the session was concentrated at the belly of the curve with 27s in focus; we saw Jan-27s and Aug-27s change hands at 18.60% levels. The second half of the session was quiet. We expect
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-200/) - Fair trading seen in secondary bond market trading yesterday with the mid-section of the curve still in focus. Mar-24s, Mar-26s and Nov-27s were seen trading at 17.60%, 18.38% and 18.80% respectively. Small clips of Mar-32s also traded at 19.35%. The back-end of the curve continues to be heavily bid.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-199/) - Fair activity seen in trading yesterday with highlights along the belly of the curve. Decent clips of Jun-25s, May-26s and Jan-27s traded at 18.30%, 18.55% and 18.75%. Strong buying interest at the back-end of the curve was also seen towards the close. GHGBs to watch going into the open include Jun-29s, Mar-32s and Aug-39s. USD/GHS
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-198/) - Duration was in focus on the last trading day of the month of May. We saw decent clips of Jun-29s, Mar-32s and Aug-39s change hands at 19.15%, 19.25% and 19.75% respectively. On the data front, the BOG dropped the policy rate by 100bps citing contained inflation and a faster closure of the output gap in the
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-197/) - Price action in bonds last week Friday was seen largely at the back-end of the curve with demand mainly from local asset managers. Jun-29s and Aug-39s were seen trading at 19.15% and 19.80% respectively. USD/GHS closed the week at 5.8400/5.8500. We expect an active session ahead.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-196/) - Local bonds opened the week unchanged with very little price action. Clips of 27s were reported trading at 19.00%. We expect activity to pick up in upcoming sessions. USD/GHS closed at 5.8250/5.8350.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-195/) - Activity remained largely centered at the front-end of the curve in yesterday's trading session. Price action on the day was seen in Feb-23s at 17.10% with Aug-39s also trading at 19.80%. We expect fair activity across the curve in the coming sessions. USD/GHS closed the last session quoted at 5.8000/5.8100
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-194/) - The front-end of the curve was fairly active in yesterday's trading session. Price action was seen in Sept-21s, Feb-23s and Sept-23s at 16.00%, 17.10%, 17.50% respectively. Clips of Aug-27s also changed hands at 19.05% levels. We except activity to pick up at the back-end of the curve in upcoming sessions. GHGBs to watch going into the open
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-193/) - Activity on the bond market was largely quiet yesterday following the 5-year bond auction on Friday. We saw clips of the new 5-year traded at 18.65%; Feb-23s and Mar-24s also traded at 17.10% and 17.05% respectively. We also saw bidding interest in the Nov-21 cocoa paper at 17.30% but there were no offers to match.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-192/) - Fair trading seen in GHGBs on Wednesday with price action seen in and around the belly of the curve. Feb-23s, Mar-24s, Jul-24s and Jan-27s changed hands at 16.95%, 17.70%, 17.65% and 18.85% respectively. On the primary market front, government announced late Wednesday a 5-year auction which takes place today. We expect a calm session in
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-191/) - Fair activity seen in GHGB trading yesterday. Price action was seen in 21s, 24s and 27s at 15.50%, 17.66% and 18.90% respectively. We expect to see good traction at the mid- to back-end of the curve in coming sessions fueled by local buyside demand. USD/GHS closed at 5.76/5.78. GHGBs to watch going into the open include
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-190/) - It was a fairly quiet start to the trading week yesterday. Decent volumes of Jul-21s, DAAKYE 27s and Aug-39s traded at 15.65%, 19.60% and 20.00% respectively. We expect market activity to pick up in the coming sessions. USD/GHS spot closed at 5.7700/5.7900 levels
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-189/) - Activity was once again muted in yesterday's trading session. We saw trades in Feb-23s, Jan-27s, and Jun-29s at 17.10%, 19.00% and 19.20% respectively. We expect more of the same in today's session. USD/GHS closed yesterday quoted at 5.7850/5.7950.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-188/) - A dull trading session recorded yesterday in the bond market as participants continue to strategize for the month of May. Price action on the day was seen in 21s, 22s and 23s at 15.80%, 16.20% and 17.25% respectively. We expect more of the same in today's session. USD/GHS closed at 5.7850/5.7950.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-187/) - The front-end of the curve continues to see the most price action, with late 21 maturities in focus. Yesterday's trading session saw decent volumes of Sept-21s and Oct-21s trade at 15.50% levels. Going into today, we see interest building on the corporate front. DAAKYE 27 is expected to open today's session quoted at 20.20%/19.60% and
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-186/) - A surprisingly quiet close to the trading month of April last week Friday as most market participants sat out after the release of the Q2'21 issuance calendar. Price action on the day was largely focused at the front-end of the curve with Jan-22s in focus at 16.30%. We expect market activity to pick up and yields
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-185/) - It was a muted session in bond trading yesterday. Clips of Feb-23s, Dec-23s and Aug-27s were seen trading at 17.25%, 17.35% and 19.05% respectively. On the data front the Q2'21 auction calendar was released, targeting a total issuance of GHS 21.4bn with GHS 17.3bn in maturities and 4.1bn in fresh issuance for government financing. May targets
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-184/) - It was fairly active in yesterday's trading session with price action seen at the mid- to back-end of the curve. Mar-26s, Jun-29s, and Aug-39s changed hands at 18.45%, 19.35%, and 20.10% respectively. We expect more of the same in today's session. USD/GHS closed yesterday quoted at 5.8100/5.8150.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-183/) - A slow kick off to the trading week in GHGBs as market continues to remain largely offered. Price action yesterday was seen in Oct-21s, Jan-22s and Sept-23s which traded at 16.40%, 16.50% and 17.85% respectively. We expect local buyside interest to trickle into the market as the curve continues to steepen. GHGBs to watch going into the
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-182/) - Subdued activity in GHGB trading on the secondary market last week Friday with more of same offered tone. Price action was seen mostly at the front-end. Most traded bonds on the day were Oct-21s and Jan 22s at 16.00% and 16.65% respectively. USD/GHS spot closed last week at 5.8100/5.8200 levels. We expect trading activity in
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-181/) - GHGBs continue to be net offered across the curve. Yesterday's price action was seen in Apr-24s, Jan-27s and June-29s at 17.60%, 19.05% and 19.15% respectively. USD/GHS closed at 5.8100/5.8200. We expect a calm trading session ahead. GHGBs to watch going into the open include Nov-26s and Mar-32s which were last quoted at 19.15/18.90% and 20.00/19.65%
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-180/) - A semi-active trading session was seen on Wednesday with price action seen at the mid- to back-end of the curve. We saw decent clips of Mar-26s, Nov-26s, Jan-27s, Mar-32s and Aug-39s trade at 18.30%, 18.75%, 19.65% and 19.95% respectively. We expect price action to persist around the mid-section of the curve stimulated by local buy
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-179/) - GHGBs continue to remain net offered with the majority of price action yesterday seen at the front- and mid-section of the curve. Jan-22s, Sept-23s, Mar-26s and Nov-26s traded at 16.50%, 17.60%, 18.20% and 19.00% respectively. We expect a similar session today as market participants continue to tread cautiously ahead of news on the Q2'21 issuance
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-178/) - It was a fairly active start to the trading week with decent price action seen across the GHGB curve. Good volumes of 21s, 23s, 24s, 26s and 32s traded at 15.60%, 17.30%, 17.55%, 18.90% and 19.74% respectively. Market seems to be net offered at the moment, with yields inching up across. We expect local buy
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-177/) - A fairly active session in GHGBs trading last week Friday. Price action continues to be dominated at the front-end, a trend we see persisting further until the release of the Q2'21 issuance calendar. That said, we expect to see good traction at the mid- to back-end of the curve this week stimulated by local buy
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-176/) - A fairly active session recorded in GHGB trading yesterday. Price action continues to be skewed more at the front-end, which saw decent clips of May-21s, Jan-22s, Jul-22s, Oct-22s, Mar-23s and Sept-23s trade at 15.80%, 16.20%, 16.75%, 17.20%, 16.85% and 17.30% respectively. We expect activity in the mid- to back-end of the curve to pick up.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-175/) - It remained fairly quiet in the last market session. Interest remains dominated at the front-end of the curve; Jul-22s changed hands at around 16.30%. We also saw some interest at the back-end with Mar-32s trading at 19.50%. We expect more of the same in today's session. USD/GHS spot closed yesterday at 5.8100/5.8200.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-174/) - It was a quiet start to the trading week with market activity largely subdued. Price action was skewed in the front-end of the curve, especially in 22s and 23s. Jan and Feb-23s changed hands at an average yield of 17.10%. We believe the lethargy in activity is because the auction calendar has still not been
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-173/) - It was a quiet end to the trading week on Friday with activity remaining repressed all through the week. Decent clips of Jun-29s traded at 19.45% in Friday's session. On the weekly auction front, the treasury raised GHS 1.095bn out of a GHS 1.54bn target at clips of 12.81%(-4bps) on 91d, 13.61%(-1bps) on 182d and 16.46%(-11bps) on
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-172/) - It was another trading day of subdued activity on the bond market. Decent sizes of May-21s and Nov-26s traded around 15.5% and 18.8% levels. We expect a quiet close to the week with investor activity focused at the front-end of the curve. USD/GHS spot close lower yesterday around 5.79/5.81 levels.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-171/) - It was another uneventful session in GHGB trading. Price action on the day was seen at the front- and mid-section of the curve. 22s changed hands at 16.75% levels, while 26s traded at 18.89%. We see activity at the front-end of the curve persisting in today's session. USD/GHS spot closed yesterday at 5.81/5.83 levels.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-170/) - It was a quiet session to start the trading week as investors await the release of the Q2'21 auction calendar. We saw pockets of Jun-29s change hands at an average yield of 19.10%. We expect activity to be somewhat subdued until after the release of the issuance calendar for Q2'21. Consequently, we expect a relatively
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-169/) - There was very little price action in GHGBs as market participants sat out the last session, awaiting information regarding the release of the Q2'21 issuance calendar. The curve remained unchanged from the previous close. We expect market activity to pick up as the week progresses. USD/GHS spot closed last week Thursday at 5.8000/5.8150 levels.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-168/) - It was an active session in trading yesterday to close the trading month of March 2021. Price action was seen across the the curve with Apr-24s standing out as the most active security, changing hands at an average yield of 17.63%. USD/GHS closed the first quarter at 5.8200 levels. We expect a relatively calm session
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-167/) - An active session was recorded in secondary bond market trading yesterday, with decent price action seen across the curve. Clips of 21s, 24s, 26s, 29s and 39s traded at average yields of 15.90%, 17.50%, 18.10%, 19.42% and 19.51% respectively. We expect to witness more price action after the release of the Q2'21 bond calendar. USD/GHS
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-166/) - It was an active start to the trading week with over 200m worth of GHGBs changing hands on the secondary bond market. Price action continues to be centered on duration with Aug-39s in focus, trading in decent sizes at an average yield of 19.50%. Mar-32s were also seen trading at 19.35%. We expect activity to continue to
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-165/) - It was another active session in the secondary bond market yesterday with activity seen across the curve. Feb-23s and Sep-23s changed hands at 17.15% and 17.55% respectively. Meanwhile, 26s traded at an average yield of 18.50%. We expect a fairly active session to close out the week with the back-end of the curve in focus.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-164/) - An active session recorded in secondary bond market trading with decent price action seen across the curve. 21s, 26s and 32s traded at an average yield of 16.00%, 18.40% and 19.55% respectively. We expect another active session up ahead with the front-end of the curve in focus. USD/GHS spot closed at 5.78/5.80 levels
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-163/) - Another dull session recorded in secondary bond market trading, with rates broadly unchanged across the curve. Price action was focused on the front-end which saw Jul-21s and Feb-23s trade at 15.975% and 17.28% respectively. Small pockets of 27s and 32s also traded at 18.90% and 19.50% levels respectively. We see activity picking up in upcoming
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-162/) - An uneventful start to the trading week with very little price action seen across the curve. We saw clips of of Sep-21s, Feb-23s and Mar-26s change hands at 16.00%, 17.28% and 18.10% respectively. On the macro front, the central bank held its benchmark interest rate at 14.50% for a sixth consecutive meeting as it monitors the impact
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-161/) - A fairly active session in GHGB trading last week Friday after Thursday's GHS1.6 bn 3-year auction cleared at 17.70%. The front-end saw decent clips of Nov-21s and Feb-23s trade at 16.20% and 17.30% respectively. The back-end of the curve also saw Aug-39s change hands at 19.55%. Going into the week, we expect local flows to dominate
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-160/) - It was a fairly active session in GHGBs trading yesterday. Decent volumes of 21s, 24s, 26s and 32s changed hands at 16.05%, 17.70%, 18.20% and 19.35% respectively. On the corporate front, pockets of ESLA-24s and the DAAKYE bond traded at 18.40% and 19.80% respectively. On the primary market, the government raised GHS 1.61bn out of the targeted
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-159/) - A somewhat active session in GHGBs trading yesterday after the IPG for the 3-year auction was released at 17.30%-17.70%. Price action was mainly seen in 24s, which traded at 17.75% levels briefly, with offshore accounts on the bid. Late 21s, 23s and 29s also traded at 16.00%, 17.20% and 18.90% levels respectively. GHGBs to watch
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-158/) - Another mute session recorded in GHS bonds with the front- to mid-end of the curve unchanged. 5-10m clips of Aug 39s were seen trading at 19.70% late in the session. Local interest was also seen in the Daakye corporate bond at 19.80%. We expect activity to pick up in upcoming sessions.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-157/) - It was a fairly quiet session in the secondary bond market yesterday. Few clips of 23s traded at 17.00% levels. The yield curve remains flat relative to the start of the year. Going into today, we expect demand for GHGBs to pick up, with some price action expected at the back-end of the curve. USD/GHS spot
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-156/) - A calm session was recorded yesterday as most market participants focused on settling bids in last week’s 5-year bond issuance. Price action on the secondary market was seen at the back-end of the yield curve with decent volumes of 32s and 39s changing hands at 19.63% and 19.60% respectively.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-155/) - It was a slow end to the trading week on Friday following the 5-year primary market auction. Yields were largely unchanged across the curve. Price action was seen at the back-end with Jul-34s and Aug-39s trading at 19.40% and 19.60% respectively. Going into today, we expect to see pockets of demand for the newly issued
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-154/) - A not so active session recorded in GHGB trading yesterday as most market participants sat out the session, awaiting IPG for the upcoming 5-year issuance. Jul-34s and Aug-39s were seen changing hands at 19.60% and 19.66% respectively. We expect the primary market auction to mop up today's liquidity. Bookrunners confirmed the IPG for the 5-year
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-153/) - GHGBs: There was fair activity seen in trading yesterday. The most actively traded bonds during the day included Mar-24s, Mar-32s, and Aug-39s which traded at 18.00%, 19.30% and 19.60% respectively. Scraps of late 22 maturities traded at 17.00% levels. Going into today, we expect to see further price action at the back-end of the curve. GHGBs
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-152/) - Duration dominated trading yesterday as market participants awaited IPG on the upcoming 5-year issuance. Mar-32s, Jul-34s and Aug-39s changed hands at 19.40%, 19.68% and 19.65% respectively. Scraps of Feb-23 were also seen trading at 17.25%. We expect trading activity to pick up following the 5-year IPG release as market participants place strategic bets. GHGBs to
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-151/) - It was a subdued bond trading session yesterday. Trading on the day was concentrated at the front-end of the curve; Feb-23s, Sept-23s and Nov-23s were seen trading at 17.25%, 17.50%, and 17.55% respectively. IPG for the upcoming 5-year issuance is expected to be announced in today's session; 5-year bonds are currently quoted at 18.75/18.30% levels.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-150/) - It was a quiet trading session to close out the month of February on Friday with weekly auctions also underway. Price action in secondary market activity was seen at the front- and back-end of the yield curve with decent volumes of 23s and 32s changing hands at 17.30% and 19.50% respectively. We anticipate a fairly
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-149/) - There was subdued activity in yesterday's trading session. The mid-section of the curve saw the most price action with clips of 25s and 27s trading at 18.30% and 18.80% respectively. With the usual end of month local demand for GHGBs stalling, we anticipate an uneventful trading day to close out the month of February. That
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-148/) - Price action on the day was seen in 2023 and 2027 maturities at average yields of 17.45% and 18.85% respectively. Scraps of May-28s also changed hands at 18.90% levels. We see local demand for ESLA papers driving activity in today’s session. ESLA-29s opened the session quoted at 19.30/19.00 indicatively.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-147/) - A fairly quiet trading session yesterday on the secondary bond market with local real money demand for GHGBs slowly coming in. The session saw Jul-21s, Feb-23s, Oct-25s and Jan-27s trade at 15.50%, 17.40%, 18.35% and 18.92% respectively. The corporate side also saw price action in ESLA -27s at 19.05%. We see activity picking up as
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-146/) - A somewhat active session to start the week; we had pockets of trades at the front-end of the curve with 2021, 2022 and 2023 maturities closing at average yields of 15.70%, 17.30% and 17.35% respectively. The mid-point of the curve also saw Oct-25s trade at 17.30% levels. We expect activity to pick up in the coming
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-145/) - The bond market saw bonds worth over GHS100m change hands last Friday. Majority of the price action was seen at the front-end of the curve. Aug-22s and Feb-23s traded at 17.56% and 17.20% respectively. The back-end of the curve also saw Aug-39s trade at 19.65%. Overall, demand for GHGBs continues to remain strong. Going into this
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-144/) - Fair activity seen in GHGB trading on the secondary bond market yesterday. The back-end of the curve saw most of the price action. Good volumes of Mar-32s and Aug-39s traded at an average yield of 19.45% and 19.66% respectively. On the primary front, Government raised GHS3 billion in 2-year treasuries at 17.60%. We expect the new
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-143/) - A dull session in trading yesterday with investors' focus on the upcoming 2-year auction. Price action was seen in Sept-23s and Mar-32s at 17.69% and 19.45% respectively. We expect to see price action in 2021 and 2023 maturities as market participants attempt to make room in their portfolios for the new 2-year issuance. GHGBs to
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-142/) - Fair trading seen on the bond market yesterday. May-22s and Oct-25s were in focus with good flows seen trading at 17.25% and 18.48% respectively. The back-end of the curve saw some traction with Mar-32s almost trading at 19.45-19.55% levels. On the auction front, bookrunners announced the IPG for the 2-year auction after close at 17.50%-17.85%.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-141/) - The bond market saw decent price action across the curve in yesterday's session. Jan-23s and Sept-23s traded at 17.70% and 17.63% respectively. The mid-section saw Jan-27s trade at 19.00% and back-end saw Aug-39s trade at 19.60%. We expect activity to remain steady in today's section. IPG for the upcoming 2-year issuance will be announced later
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-140/) - Not much price action in GHGBs trading last week as weekly auctions went on. Jan-27 was the highlight of the day with decent volumes changing hands at 19.07%. On primary issuance, government will seek to raise a 2-year note this week. Initial Pricing Guidance (IPG) is expected on Tuesday. Book-build will commence on Wednesday and
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-91/) - The last session was quite active; investors had a focus on Nigerian & Ghanaian bonds. Trading activity remained in some of the most active names in SSA: NGERIA 47s, and GHANA 32s & 49s. NGERIA 47s traded the most volume with 12MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-139/) - Price action in yesterday's trading session was focused on Sept-23s with good clips changing hands at 17.70%. The mid- and back-section of the curve also saw some activity in Aug-27s and Mar-32s at 19.07% and 19.50% respectively. Overall, the market remained generally flat with local-end accounts focused more on money market instruments. USD/GHS traded in
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-90/) - The last session was calm; investors had a focus on Ivorian & Ghanaian bonds. Trading activity remained in some of the most active names in SSA: IVYCST 31s & GHANA 49s. GHANA 49s traded the most volume with 220K traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-138/) - Front-end trading continues to dominate duration with May-21s, Jun-21s and Oct-21s trading at 15.80%, 15.95% and 16.22%. An uneventful trading session on the whole with investor attention focused on upcoming primary market issuances. USD/GHS spot closed 5.8150/5.8350.
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-89/) - The last session was calm; investors had a focus on Nigerian bonds. Trading activity remained in some of the most active names in SSA: NGERIA 25s, 32s & 47s. NGERIA 25s traded the most volume with 630K traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-137/) - The trading week kicked off in a similar fashion as last week. GHGBs in focus were 23s and 25s. Decent clips of Jan-23s and May-23s changed hands at 17.50%. Oct-25s also traded at 18.60%. Price action was also seen at the back end of the curve with Mar-32s trading at 19.70% levels.
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-88/) - The last session was calm; investors had a focus on Nigerian & Ghanaian bonds. Trading activity remained in some of the most active names in SSA: NGERIA 32s and GHANA 30s & 49s. NGERIA 32s traded the most volume with 3.1MM traded Friday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-136/) - It was a quiet end to the trading week on Friday as weekly auctions went on. On the money market front, government cut rates on treasury bills at Friday’s auction for the third consecutive time, rejecting GHS 602.64m in bids, with GHS 1.08bn accepted against a target of GHS 856m and maturities of GHS 826.10m. 91d
- [SSA commentary](https://www.gfxbrokers.com/ssa-commentary-87/) - The last session was calm; investors had a focus on Nigerian & Ghanaian bonds. Trading activity remained in some of the most active names in SSA: GHANA 49s & 51s and NGERIA 32s & 47s. GHANA 49s traded the most volume with 6.9MM traded yesterday.
- [Ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-135/) - The market remained subdued in yesterday's trading session with little price action seen. Pockets of trades were recorded at the front end of the curve where Jul-21s, Jan-22s & Feb-22s traded at 16.20%, 16.50% and 17.10% respectively. Decent volumes of 2025 maturities traded at 18.45% with May-28s also changing hands at 19.00%. We expect demand to pick up
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-86/) - The last session was quite calm; investors had a focus on Nigerian & Ghanaian bonds. Trading activity remained in some of the most active names in SSA: GHANA 35s & 49s and NGERIA 31s. GHANA 35s traded the most volume with 1.32MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-134/) - Fair activity seen in trading yesterday with 2023 maturities in the spotlight. Good volumes of Jan-23s, May-23s, and Sept-23s changed hands at an average yield of 17.65%. The back end of the curve also saw decent price action in Jul-34s at 19.35%. Activity was also seen in ESLA-31s quoted at 20.90/20.40 levels. GHS/USD spot closed
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-85/) - The last session was active; investors had a focus on Nigerian & Kenyan bonds. Trading activity remained in some of the most active names in SSA: KENINT 32s and NGERIA 32s & 47s. KENINT 32s traded the most volume with 61.51MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-133/) - A subdued session in secondary market trading yesterday. Price action on the day was seen in 23s and 27s at an average yield of 17.54% and 19.10% respectively. 2024 maturities also traded at 18.40% levels. We see activity picking up on the corporate front (ESLA bonds) stimulated by demand on the local buy side. Bonds
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-84/) - The last session was calm; investors had a focus on Nigerian & Ghanaian bonds. Trading activity remained in some of the most active names in SSA: Nigerian 25s & 32s and GHANA 32s & 61s. Nigerian 32s traded the most volume with 9.87MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-132/) - Not much price action seen in yesterday's trading session. The front end of the curve was in focus. Mar-21s, Nov-21s and Jan-23s changed hands at 15.85%, 16.60% and 17.40% respectively. On the macro front, the MPC held the policy rate at 14.50% following its meeting last week; this was very much in line with market
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-83/) - Last session was calm; investors had a focus on Nigerian & Ghanaian bonds. Trading activity remained in some of the most active names in SSA: Nigerian 22s & 47s and GHANA 35s. Nigerian 22s traded the most volume with 2.47MM traded Friday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-131/) - A calm trading session to close the trading month of January last week Friday as weekly auctions were underway. Price action on the secondary market activity was seen at the front end of the yield curve with decent volumes of Jul-21s and Feb-23s changing hands at 16.35% and 17.60% respectively. Looking ahead, government will look
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-82/) - The last session was calm; investors had a focus on Ghanaian & Kenyan bonds. Trading activity remained in some of the most active names in SSA: KENINT 32s and GHANA 23s. KENINT 32s traded the most volume with 3MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-130/) - Fair activity was seen in trading on the secondary bond market yesterday. Jan-23s, Mar-24s, Aug-27s and Mar-32s changed hands at 17.73%, 18.10%, 19.10% and 19.73% respectively. On the corporate front, ESLA-31s traded at 20.65%. We expect a calm session today with investor attention on the weekly bills auction. Government will seek to raise a total
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-81/) - The last session was calm; investors had a focus on Ghanaian & Nigerian bonds. Trading activity remained in some of the most active names in SSA: NGERIA 32s & 47s and GHANA 49s & 61s. GHANA 61s traded the most volume with 1MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-129/) - Secondary market trading was skewed towards the front end of the curve in yesterday's session. Decent volumes of May-22s and Jan-23s changed hands at 17.25% and 17.70% respectively. The corporate front also saw clips of ESLA-27s trade at 19.20%. We expect demand for GHGBs to persist in upcoming sessions. USD/GHS closed yesterday at 5.82/5.84.
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-80/) - The last session was quite active; investors had a focus on Ghanaian & Ivorian bonds. Trading activity remained in some of the most active names in SSA: IVYCST 31s and GHANA 35s & 51s. GHANA 35s traded the most volume with 402.57MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-128/) - Fair activity seen in GHGB trading in yesterday's session on the bond market. Price action was concentrated at the belly of the curve with good volumes of Nov-26s, Aug-27s, Jan-27s and Nov-27s changing hands at 18.80%, 19.13%, 19.15% and 19.30% respectively. We expect activity to pick up in upcoming sessions stimulated by real local money
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-79/) - The last session was quite active; investors had a focus on Ghanaian & Ivorian bonds. Trading activity remained in some of the most active names in SSA: IVYCST 31s and GHANA 35s & 61s. IVYCST 31s traded the most volume with 605.94MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-127/) - A sluggish open to the trading week following last week's monster auction in 6-year treasuries. Yields were largely unchanged across the curve. Price action was seen at the front end. Dec-22s and Jan-23s changed hands at 17.40% and 17.65% respectively. We see demand for the mid-section of the curve picking up in upcoming sessions. GHGBs
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-78/) - The last session was active; investors had a focus on Ghanaian & Kenyan bonds. Trading activity remained in some of the most active names in SSA: KENINT 24s and GHANA 49s & 61s . KENINT 24s traded the most volume with 8.2MM traded Friday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-126/) - A quiet session in trading last week Friday as the weekly auction was underway. Government raised a total of GHS1.25 billion in 91-day, 182-day and 364-day bills. Pockets of interest were seen in Jul-21s and Jan-23s at 16.60% and 17.75% respectively. We expect activity to pick up this week stimulated by real local money demand.
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-77/) - The last session was calm; investors had a focus on Ghanaian & Nigerian bonds. Trading activity remained in some of the most active names in SSA: GHANA 30s & 49s and NGERIA 31s & 47s. GHANA 49s traded the most volume with 1.7MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-125/) - Secondary market trading was somewhat active in yesterday's session even though the 6-year auction dominated investors' attention. Pockets of interest were seen in the front end and mid-section of the curve. Sept-21, Jan-22, Jan-23 and Aug-25 all changed hands at 16.70%, 16.90%, 17.75% and 19.25% respectively. As expected, yesterday’s 6-year auction was very successful with
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-76/) - The last session was calm, investors had a focus on Nigerian bonds. Trading activity remained in some of the most active names in SSA: NGERIA 31s & 32s. NGERIA 31s traded the most volume with 200K traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-124/) - Fair activity seen in GHGB trading in yesterday's session as the bookbuild process for upcoming 6-year was underway. The order book will close late session today, Thursday, 21st January 2021.Price action on the day was focused in the front end of the curve. Sept-21, Oct-22 and Jan 23 all traded at 16.50%, 17.70% and 17.85% respectively.
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-75/) - The last session was quite active, investors had a focus on Nigerian & Ghanaian bonds. Trading activity remained in some of the most active names in SSA: NGERIA 22s & 47s and GHANA 35s. NGERIA 22s traded the most volume with 29.2MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-123/) - A muted session in trading yesterday with the 6-year auction announcement very much in focus. Decent clips of Jan-22s and Aug-27s traded at an average yield of 17.00% and 19.15% respectively. On the corporate front, strong demand for ESLA-31s was seen mid-session but little supply meant nothing significant was traded. We expect a fairly flat session today following
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-122/) - A not so active session recorded in GHGB trading yesterday as most market participants sat out awaiting IPG for the upcoming 6-year issuance. Jan-22s, Jul-22s, Aug-27s and June-29s were seen changing hands at 17.00%, 17.40%, 19.20% and 19.55% respectively. We expect primary market auctions to mop up much of GHS liquidity we have seen over
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-74/) - Last session was quite active, investors had a focus on Kenyan & Ghanaian bonds. Trading activity remained in some of the most active names in SSA, KENINT 32s and GHANA 35s & 61s . GHANA 35s traded the most volume with 25.92MM traded yesterday.
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-73/) - SSA: Last session was calm, investors had a focus on Nigerian & Ghanaian bonds. Trading activity remained in some of the most active names in SSA, NGERIA 25s & 27s and GHANA 22s & 32s. NGERIA 25s traded the most volume with 600K traded Friday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-121/) - The strong rally in GHGBs came to a halt in last week Friday's session as market participants digested information on government's borrowing plans for Q1. Notable GHGBs trades on the day included Jan 22s and Aug 27s changing hands at 17.00% and 19.20% respectively. The government plans to issue a gross amount of GH¢22,346.40 million
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-120/) - GHGBs continue to remain net bid with very little supply to met demand. Yesterday's session saw 23s, 25s and 26s trade at 17.65%, 18.50% and 18.80% respectively. The back end of the curve, Aug 39, was seen quoted at sub 20% levels. GHGBs to watch going into the open include Sept-23, Nov-26 and Aug 27.
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-72/) - Last session was calm, investors had a focus on Nigerian bonds. Trading activity remained in some of the most active names in SSA, NGERIA 31s. NGERIA 31s traded the most volume with 1.2MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-119/) - GHGBs continue to rally on the back of strong demand from both local and offshore accounts. The mid section of the curve was mainly the focus on the day. 23s, 25s, 27s and 39s touched new lows of 17.80%, 18.60%, 19.10% and 20.50% respectively. With limited supply and much of market demand for GHGBs unmet,
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-71/) - Last session was quite active, investors had a focus on Ghanaian & Nigerian bonds. Trading activity remained in some of the most active names in SSA, GHANA 30s, 49s & NGERIA 32s. GHANA 30s traded the most volume with 1.1MM traded yesterday.
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-70/) - Last session was quite active, investors had a focus on Ghanaian bonds. Trading activity remained in some of the most active names in SSA, GHANA 51s, 61s, 35s & 27s . GHANA 51s trading the most volume with 104.8MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-118/) - GHGBs continue to rally on the back of strong demand from both offshore and local end accounts. Yesterday's session saw decent trading across the curve.Dec-21, Dec-23, Apr-24, Mar-25 all changed hands at 17.30%, 18.50%, 19.20% and 19.15% respectively. We expect bidding interest to persist in upcoming sessions. GHGBs to watch in today's session include Mar-25
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-69/) - Last session was calm, investors had a focus on Kenyan & Ghanaian bonds. Trading activity remained in some of the most active names in SSA, GHANA 49s & KENINT 35s. GHANA 49s trading the most volume with 1MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-117/) - An active session recorded in GHGB trading. The belly to the back end of the curve was active. Mar and Jun 25s both dealt at 19.20% levels. Nov 27s and May 28s were concluded at 19.95% and 20.00% respectively, while Aug 39s were paid at 21.00%. Going forward, we expecting demand for GHGBs to continue
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-68/) - Last session was calm, investors had a focus on Nigerian & Ghanaian bonds. Trading activity remained in some of the most active names in SSA, NGERIA 31s & GHANA 51s. NGERIA 31s trading the most volume with 1MM traded friday.
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-67/) - Last session was calm, investors had a focus on Nigerian & Kenyan bonds. Trading activity remained in some of the most active names in SSA, NGERIA 32s & KENINT 32s. NGERIA 32s trading the most volume with 2.25MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-116/) - A net bid session recorded in GHGB trading on Wednesday. The belly of the curve saw majority of price action with 23 and 25s in focus. Good clips of Jan -23 and Mar-25 changed hands at 18.50% and 19.25% respectively. The back end of the curve saw June-29 and Aug- 39 trade at 20.00% and
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-115/) - Fair trading seen in yesterday's session. Jan 23s and Aug-39 were seen trading at 18.65% and 21.40% respectively. June 25 also traded at 19.25% levels. Going into today's session we expect to see price action in the mid to back end of the curve with 25s and 39s still in focus.
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-66/) - Last session was active, investors had a focus on Ivorian & Kenyan bonds. Trading activity remained in some of the most active names in SSA, IVYCST 31s & KENINT 28s. IVYCST 31s trading the most volume with 331.14MM traded yesterday.
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-65/) - Last session was calm , investors had a focus on Nigerian & Kenyan bonds. Trading activity remained in some of the most active names in SSA, NGERIA 47s & KENINT 24s. NGERIA 47s trading the most volume with 1.87MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-114/) - GHGBs opened the week on a fairly quiet note. Clips of Jan-22 were seen changing hands at 17.70%. Jun 21s also traded at an average of 16.80%, while Nov 22s dealt around 18.10% levels. We expect activity to pick up as the week progresses with the mid section of the curve in focus.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-113/) - a calm session was recorded yesterday as investors awaited ipg on the 2 year gog bond issuance. decent clips of apr-25 changed hands at 19.65%. going forward, we expect a calm trading session today as investors focus on the 2 year gog issuance.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-112/) - on the primary market front, government of ghana announced a 2 year treasury bond issuance last week, and is expected to announce ipg on the security today. government raised a total of ghs 901.74m in 91 and 182 day bills at around 14.09% and 14.12% respectively. we expect a fairly active trading session to close
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-64/) - last session was calm, investors had a focus on nigerian & ghanaian bonds. trading activity remained in some of the most active names in ssa, ngeria 47s & 31s, ghana 26s. ngeria 47s trading the most volume with 3.34mm traded friday .
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-111/) - a quiet day witnessed last week friday with investors mostly focused on primary market auctions. on the primary market, government raised a total of ghs 971.75m in 91, 182 and 364 day bills at around 14.09%, 14.13% and 17.00% respectively. we expect a fairly active week with continued focus on the front to mid section
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-63/) - last session was calm , investors had a focus on nigerian & kenyan bonds. trading activity remained in some of the most active names in ssa, ngeria 47s & 31s, kenint 24s. ngeria 47s trading the most volume with 3.34mm traded yesterday
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-110/) - a split day yesterday with divided attention on primary and secondary markets. while there was focus on the two gog auctions, fair market activity was seen in secondary markets with focus on the front to mid section of the curve. price action was seen in jun-21, dec-22, feb-23, jun-23 and mar-25 at 17.45%, 18.35% 18.85%,
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-62/) - last session was quite , investors had a focus on ghanaian & kenyan bonds. trading activity remained in some of the most active names in ssa, ghana 49s & 26s, kenint 24s. kenint 24s trading the most volume with 1.51mm traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-109/) - a rather quiet session yesterday as focus shifted to primary market bond auctions. ipg for the 3 year gog bond was announced at 18.75% - 19.25%; pricing guidance for the aug-39 tap issue was released at 21.50% - 22.00%. secondary market activity was focused on the belly of the curve with decent volumes traded in
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-108/) - another fairly active session seen yesterday with most investors awaiting initial pricing guidance for the 3 year gog bond and price guidance for the aug 2039 treasury bond tap issue. price action was seen in may-21, jan-23, and jun-25 at 16.85%, 19.05%, and 19.90% respectfully.
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-61/) - last session was quiet active, investors had a focus on ghanaian & kenyan bonds. trading activity remained in some of the most active names in ssa, ghana 51s, 30s & 29s & kenint 32s. ghana 51s trading the most volume with 97.7MM traded yesterday
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-107/) - a fairly active session yesterday with with increased activity from offshore investors. price action was seen in jan-23, apr-24 and jul-26 at 19.00%, 19.25%, and 21% respectfully. on the primary market front, gog announced the issuance of a 3 year gog bond and a tap issue (reopening) of treasury bond due august 2039. we expect
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-60/) - last session was quiet active, investors had a focus on ivorian & kenyan bonds. trading activity remained in some of the most active names in ssa, ivycst 35s, kenint 32s & 24s. ivycst 35s trading the most volume with 224mm traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-106/) - a quiet day witnessed last week friday with investors mostly focused on primary market auctions. on the primary market, government raised a total of ghs 1,066.54m in 91, 182 and 364 day bills at 14.07%, 14.11% and 16.99% respectively. we expect a fairly active week with continued focus on the front to mid section of
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-59/) - last session was quiet, investors had a focus on ghanaian bonds. trading activity remained in some of the most active names in ssa, ghana 35s & ngeria 47s. ngeria 47s trading the most volume with 8MM traded friday
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-58/) - last session was quiet, investors had a focus on ghanaian bonds. trading activity remained in some of the most active names in ssa, ghana 49s,61s & 35s. ghana 49s trading the most volume with 2mm traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-105/) - an active session yesterday with focus on the front to mid section of the curve. price action was seen in aug-21, oct-21, jan-22, feb-23 and nov-26 at 17.30%, 17.39%, 17.80%, 19.25% and 20.30%. going into today, we expect a fairly active trading session with continued focus on the front to mid section of the curve
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-57/) - last session was quiet, investors had a focus on nigerian bonds. trading activity remained in some of the most active names in ssa, ngeria 32s & 47s. ngeria 32s trading the most volume with 3.7mm traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-104/) - price action in yesterday's session was seen in 23s and 26s at 19.20% and 20.20% respectively. decent flows in esla 31 also traded at an average ytm of 23.10%. on the data front, inflation rate dropped back inside the central bank’s target range for the first time in eight months in november. annual consumer inflation
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-103/) - fair activity seen in ghgb trading in yesterday's session. the mid section of the curve continues to be in focus. good volumes in feb and mar-23 changed hands at 19.30% and 19.40% respectively. we expect increased activity from investors as the results of both presidential and parliamentary elections become clear. ghgbs to watch going into
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-102/) - Fairly active session last week friday with an uptick in aggregate demand. 23 GHGBs dominated trading with Jan and Nov-23 in focus at 19.20% levels. Weekly auctions saw GoG raise GHS1bn in 91-day and 182-day bills at 14.07% and 14.13% respectively. We expect an active trading week with both local and offshore market participants involved.
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-56/) - Last session was quiet, investors had a focus on Nigerian bonds. Trading activity remained in some of the most active names in SSA, NGERIA 47s & 22s. NGERIA 22s trading the most volume with 8.73MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-101/) - a quiet session recorded yesterday as investors braced for the dec 7 elections. on the primary market front, government raised a total of ghc 371,723,280 in 2 year treasuries at 18.50%. price action was seen at the front end of the curve in nov-23s at 19.20%. going into today, we expect a calm session with primary
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-55/) - last session was quiet , investors had a focus on ghanaian & kenyan bonds. trading activity remained in some of the most active names in ssa, ghana 49s & 51s, kenint 24s. ghana 49s traded the most volume with 1.1mm traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-100/) - a net offered session yesterday with 21, 22 and 23 ghgbs in focus. we saw better offers in sept-21 and oct -21 at 17.30% and 17.50% respectively. offers in feb-23 also inched up at least 20bps with trades going in at 19.35%-19.30% levels. we expect to keep seeing interest in the front to mid section
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-54/) - last session was quiet , investors had a focus on ghanaian & kenyan bonds. trading activity remained in some of the most active names in ssa, ghana 30s, kenint 24s & 32s. ghana 30s trading the most volume with 2mm traded yesterday.
- [ssa commentary](https://www.gfxbrokers.com/ssa/) - last session was quite active, investors had a focus on ghanaian & kenyan bonds. trading activity remained in some of the most active names in ssa, ghana 29s & 51s, kenint 32s & 28s. ghana 29s traded the most volume with 19.99MM traded yesterday
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-99/) - a fairly quiet session in trading yesterday with investor focus skewed towards upcoming 2 year issuance. ipg on the issuance came out at 18.25% -18.50%. price action on the day was seen in oct-21; Aug-27 and esla-31 at 17.30%, 20.55% and 22.75% respectively. some activity was also seen in the back end of the curve with
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-98/) - a quiet session recorded yesterday as investors awaited initial pricing guidance for the 2 year gog Bond. price action was seen in the front and belly of the curve. jul-21, oct-21 and jun-25 traded at 17.10%, 17.30% and 20.15.% respectively. 2 year to maturity GHGBs are currently being quoted at 18.80/18.20. We expect trading activity to be focused in
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-53/) - last session was calm, investors had a focus on ghanaian bonds. trading activity remained in some of the most active names in ssa, ghana 32s. ghana 32s trading the most volume with 300k traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-97/) - A quiet day witnessed last week friday with investors mostly focused on primary market auctions. Price action was seen at the belly of the curve in Mar-25s and Jul-26s at 20.20% and 20.30% respectively. Government is looking to raise more funds by announcing a 2 year treasury bond issuance (rollover) in December . On the
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-52/) - last session was calm, investors had a focus on nigerian & ghanaian bonds. trading activity remained in some of the most active names in ssa, ghana 61s & 35s and ngeria 31s & 47s. ngeria 25s trading the most volume with 3mm traded friday
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-96/) - a somewhat active session in ghgb trading yesterday with price action seen in the mid to back end of the curve. price action was seen in june-25 and mar-32 which opened the session quoted at 20.40/20.10 and 21.50/20.10 respectively. on the primary market front, government raised a total of ghs 650,158,077 in 3 year treasuries
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-51/) - last session was calm, investors had a focus on nigerian & ghanaian bonds. trading activity remained in some of the most active names in ssa, ghana 61s & 27s and ngeria 25s & 47s. ngeria 25s trading the most volume with a 6.4MM traded yesterday.
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-50/) - last session was calm, investors had a focus on nigerian & ghanaian bonds. trading activity remained in some of the most active names in ssa, ghana 61s & 35s and nigeria 25s. nigeria 25s trading the most volume with a 1mm traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-95/) - an active session recorded in ghgb trading yesterday with activity seen in the front and mid section of the curve. price action was seen in mar-21, nov-22, feb 23 and jun-25 at 16.50%, 18.30%, 19.15% and 20.20% respectively. on the issuance front, the book-build process for government's 3 year issuance closes in the afternoon of thursday, 26th
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-49/) - last session was quite active, investors had a focus on nigerian & ghanaian bonds. trading activity remained in some of the most active names in ssa, ghana 26s & 27s and nigeria 25s & 32s. ghana 27s traded the most volume with a 16.5mm traded yesterday. on corporate bonds interest mainly remain in etinl 24s & fbnnl 25s.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-94/) - very quiet day as investors were mostly on the fence awaiting price guidance for the issue of the 3 year GOG bond. price action in the day was focused on the front and mid end in jan 22, feb 22 and nov 26 at 17.95%, 19.20% and 20.30% respectively. going forward, activity will pick up in
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-48/) - last session was calm, investors had a focus on Nigerian & Ghanaian bonds. Trading activity remained in some of the most active names in SSA, GHANA 26s & 35s and NGERIA 47s & 31s. GHANA 26s trading the most volume with a 1.02MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-93/) - a slow start to the trading week with most local market participants waiting on IPG for upcoming 3 year issuance to inform trading decisions. Price action on the day was focused in Jul-21, Feb- 22 and Apr-24 at 17.30%, 18.00% and 19.65% respectively. The back end of the curve remained unchanged. We expect trading activity
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-92/) - a deaf tone last week Friday on the secondary bond market with government announcing a November 2020 3-Year GHS Denominated Treasury Bond Issuance. IPG is expected to be released tomorrow, 24 Nov 2020, book building process opens on Wednesday, 25th Nov 2020 and settlement due, Monday, 30th Nov 2020. 3 year GHGBs currently trading at
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-47/) - last session was calm, investors had a focus on Nigerian & Ghanaian bonds. Trading activity remained in some of the most active names in SSA, GHANA 49s & 51s and NGERIA 32s & 31s. NGERIA 32s trading the most volume with a 1MM traded Friday
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-91/) - Yesterday was another quiet session recorded in GHGB trading with no major price movement since the beginning of the week. Price action was seen in May-21 cocoa; Nov-23 and Apr-24 at an average yield of 17.35%; 4.50% and 19.65% respectively. On the macro front, The MPC concludes its meetings today with a rates decision expected
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-46/) - Last session was calm, investors had a focus on Ghanaian bonds. Trading activity remained in some of the most active names in SSA, GHANA 35s & 30s. GHANA 35s trading the most volume with a 700K traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-90/) - Another dull trading session recorded in GHGB trading. Price action was seem in both the front and belly of the yield curve. Dec-20 ; Mar 23 and Apr-24 changed hands at 14.75%; 19.00% and 19.70% respectively. Decent clips of the recently issued 7 year GHGB (Nov-27) also traded at an average yield of 20.40%. We
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-45/) - Last session was calm, investors had a focus on Kenyan and Nigerian bonds. Trading activity remained in some of the most active names in SSA, NGERIA 25s & 31s, KENINT 24s. KENINT 24s trading the most volume with a 600K traded yesterday.
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-44/) - Last session was quite active, investors had a focus on Kenyan and Ghanaian bonds. Trading activity remained in some of the most active names in SSA, GHANA 51s & 35s, KENINT 32s & 24s. KENINT 32s trading the most volume with a 57.74MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-89/) - GHGB trading continues to remain largely flat. Trading this week has been largely focused in the front end of the yield curve with Sept, Oct and Nov-21 in the spotlight at an average yield of 17.10%. 22 maturities also traded at 18.00% levels. The mid and back end of the curve remains muted. We expect
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-88/) - A sluggish start to the trading week as investors with most market participants on the sidelines following government dual primary market issuance last week. Price action on the day was seen in the mid section with decent clips on Jul-26 changing hands at 20.20% levels. We expect activity to pick up in upcoming sessions. GHGBs
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-43/) - Last session was calm, investors had a focus on Nigerian bonds. Trading activity remained in some of the most active names in SSA, NGERIA 47s & 31s. NGERIA 47s trading the most volume with a 1.88MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-87/) - An uneventful close to the trading week last week friday as primary market auctions dominated headlines. Pockets of interest were mainly seen in in May-21 cocoa and Oct 21 at 17.20% and 17.00% respectively. The rest of the curve remained muted. We expect activity to pick up in upcoming sessions stimulated by local real money
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-42/) - Last session was calm, investors had a focus on Ghanaian bonds. Trading activity remained in some of the most active names in SSA, GHANA 26s & 49s. GHANA 26s trading the most volume with a 1MM traded friday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-86/) - Duration was in focus in yesterday's trading session. Price action was seen June 29 at 21.90% levels. ESLA 31 rallied from 23% levels to close the session at 22.50%. Fair clips of Oct-21 were also seen changing hands at 17.00%. We expect the trading week to close on a calm note. GHGBs to watch in
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-41/) - Last session was calm, investors had a focus on Ghanaian & Kenyan bonds. Trading activity remained in some of the most active names in SSA, GHANA 29s & 30s and KENINT 24s & 28s. GHANA 29s trading the most volume with a 12.8MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-85/) - Sideways trading in yesterday's session with the book building process for governments dual offering underway.Price action was seen in Oct-21; Mar-23 and Nov-26 at an average yield of 17.00%; 19.00% and 20.00%. Offers in Aug-27 were also seen at 20.30% levels but no trades concluded. The rest of the curve unchanged.
- [ssa comentary](https://www.gfxbrokers.com/ssa-comentary/) - Last session was calm, investors had a focus on Ghanaian & Nigerian bonds. Trading activity remained in some of the most active names in SSA, GHANA 29s & 49s and NGERIA 47s & 32s. NGERIA 32s trading the most volume with a 8MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-84/) - Price action continues to be focused in the mid section of the curve. Yesterday's e-bond trading session saw trading interests in Oct-22; Nov-22; Apr-24; Jan-25; and Apr-25 at 18.35%; 18.40%; 19.60% and 19.75% respectively. GHGBs to watch in today's session include Nov-26 and Aug-27. We expect a fairly active session has investors react to the
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-83/) - Secondary market opened the week with the belly of the curve continuing to dominate trading. We continue to see 25 and 26 GHGBs trade in decent volumes.With regards to auctions, IPG for both a USD denominated 3-year bond and a GHS denominated 7-year bond will be released today, with book-build scheduled to commence on Wednesday
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-40/) - Last session was calm, investors had a focus on Ghanaian & Kenyan bonds. Trading activity remained in some of the most active names in SSA, GHANA 35s and KENINT 24s & 32s. GHANA 35s trading the most volume with a 9.56MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-82/) - As expected, the belly of the curve continues to be the most actively traded section. Last week's friday session saw decent clips of Mar-25 and Non-26 change hands at 20.15% and 20.35% respectively. The corporate front also saw ESLA 31 rally from 23.20% to close the session at 22.90% . Generally, market continues to be
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-39/) - Last session was calm, investors had a focus on Nigerian & Kenian bonds. Trading activity remained in some of the most active names in SSA, NGERIA 25s and KENINT 24s. NGERIA 25s trading the most volume with a 400K traded friday.
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-38/) - Last session was calm, investors had a focus on Nigerian & Ghanaian bonds. Trading activity remained in some of the most active names in SSA, NGERIA 31s& 22s and GHANA 26s & 32s. GHANA 26s trading the most volume with a 1.4MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-81/) - More of the same offered tone continued in bonds on Thursday as the book building process was underway. Fair trading was seen in Oct-22; Mar 25 and Mar 32 at 18.50%; 20.23% and 21.25% respectively. We expect the week to close on a rather quiet note. GHGBs to watch in today's session include Jan-25; Mar-25
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-80/) - Fair trading session yesterday in GHGBs with price action skewed in the mid section of the curve. Decent volumes of Jan-23 and Mar-25 changed hands at an average yield of 19.25% and 20.15% respectively. The corporate front also saw good volumes of ESLA 31 trade at 23.00%. We expect trading to continue to hover in
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-37/) - Last session was calm, investors had a focus on Nigerian bonds. Trading activity remained in some of the most active names in SSA, NGERIA 22s. NGERIA 22s trading the most volume with a 120K traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-79/) - A somewhat active session recorded in GHGB trading. Price action on the day was seen in Oct-22 and Apr/Jul-24 at 18.35% and 19.80% respectively. Market continues to remain largely net offered.IPG on upcoming 2 year issuance came in between 18.00%- 18.50% very much in line with market expectations. GHGBs to watch going into the open
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-78/) - GHGBs opened the week unchanged. Very little trading recorded in yesterday's session with investors looking forward to the IPG on the upcoming 2 year issuance. Late 22 maturities currently quoted at 18.50%/18.30%. Although we expect the primary market issuance to dampen secondary market trading for majority of the week we envisage activity picking up in
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-36/) - Last session was calm, investors had a focus on Ghanaian bonds. Trading activity remained in some of the most active names in SSA, GHANA 30s, 26s. GHANA 30s trading the most volume with a 4.8MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-77/) - Fair activity recorded on the last trading day for October 2020 fuelled by local buy side. GHGB 24 and 25s were in focus with decent clips trading at an average yield of 19.75% and 20.00% respectively. We expect government's 2 year issuance to dominate investor focus this week.
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-35/) - Last session was calm, investors had a focus on Nigerian and Ghanaian bonds. Trading activity remained in some of the most active names in SSA, GHANA 51s, 27s and NGERIA 25s & 31s. GHANA 51s trading the most volume with a 1MM traded friday.
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-34/) - Last session was calm, investors had a focus on Nigerian and Ghanaian bonds. Trading activity remained in some of the most active names in SSA, GHANA 51s, 27s, 26s and NGERIA 25s. GHANA 51s trading the most volume with a 446K traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-76/) - Fair activity was seen in GHGB trading in yesterday's session. Few trades were recorded in the mid section of the curve in Apr and Jul-24 at 19.80%. On the primary market front, Government bookrunners announced a 2 year treasury roll over issuance slated for next week. IPG scheduled to be released on Tuesday, 3rd November
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-33/) - Last session was calm , investors had a focus on Nigerian and Kenyan bonds. Trading activity remained in some of the most active names in SSA, NGERIA 32s and KENINT 24s. NGERIA 32s trading the most volume with a 969K traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-75/) - Fair trading in GHGB trading yesterday with focus in the front end of the curve. Dec-20 and Jan-22 GHGBs changed hands at 14.50% and 17.90% respectively. We see local demand for GHGBs holding for the remainder of the trading week with PFs closing out balances for the month of October. GHGBs to watch in today's
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-74/) - A fairly active session in GHGB trading yesterday with the mid section of the curve in focus. Strong local demand was seen in 23, 24 and 25 maturities. Jan and Mar 23 GHGBs changed hands at 18.90% 19.25% respectively. 25 GHGBs traded at 19.95%. On the data front, The CSD Report for September has been
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-32/) - Last session was quite active, investors had a focus on Nigerian, Ivorian and Ghanaian bonds. Trading activity remained in some of the most active names in SSA, NGERIA 25s, 47s, IVYCST 31s, GHANA 35s and 32s. NGERIA 47s trading the most volume with a 33M traded yesterday.
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-31/) - Last session was calm, investors had a focus on Nigerian bonds. Trading activity remained in some of the most active names in SSA, NGERIA 25s and 47s. NGERIA 25s trading the most volume with a 550K traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-73/) - Fair demand seen in GHGB trading in yesterday's session as asset managers rebalance their portfolios with the month coming to an end. Price action was seen in Feb-23; Mar-23; Mar-25 and Nov-26 at 19.05%, 19.10%, 19.75% and 20.40% respectively. We expect further activity in the belly of the curve as the week progresses.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-72/) - A very much net offered offered tone in GHGB trading last week friday with the yield curve unchanged. Clips of late 20s and early 21s changed hands early in the session. The corporate front also saw decent clips of ESLA 24 being offered at 19.40% levels but no bids to match. Going into the week,
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-30/) - Last session was calm, investors had a focus on Nigerian bonds. Trading activity remained in some of the most active names in SSA, NGERIA 22s and 47s. NGERIA 22s trading the most volume with a 3MM traded friday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-71/) - GHGBs trading continued to remain flat with local real money focused on corporate debt issuance (Daakye Trust PLC GHS denominated 7-Year Bond). Price action on the day was seen in Dec-20; Jul-21 and Oct-25 at 14.60%; 17.35% and 19.80%. We expect the trading week to close on a quiet note with primary market issuances taking
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-29/) - Last session was calm, investors had a focus on Ghanaian bonds. Trading activity remained in some of the most active names in SSA, GHANA 27s. GHANA 26s trading the most volume with a 6MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-70/) - Another flat session recorded in secondary bond market trading. Pockets of interest were seen in 22, 24 and 26s at 18.15%, 19.85% and 20.60% respectively. The rest of the curve remained muted. We expect activity to pick up in upcoming sessions stimulated by local real money demand. GHGBs to watch include Apr-24; Jul 24s and
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-28/) - Last session was calm, investors had a focus on Ghanaian bonds. Trading activity remained in some of the most active names in SSA, GHANA 26s, 27s and 51s. GHANA 26s trading the most volume with a 10MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-69/) - A dull session in GHGB trading as market participants sought out opportunities mainly on the front end but failed to match trades. GHGBs in focus included Jul-21; Sept-21 and Jan-22 which were bid through out the session at 17.20%, 17.25 and 18.20% respectively. The primary market front saw government raise a total amount of GHS
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-27/) - Last session was calm, investors had a focus on Ghanaian & Nigerian bonds. Trading activity remained in some of the most active names in SSA, NGERIA 31, 25s and GHANA 26s. GHANA 26s trading the most volume with a 1.5MM traded yesterday.
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-26/) - Last session was calm, investors had a focus on Ghanaian & Nigerian bonds. Trading activity remained in some of the most active names in SSA, NGERIA 32s, 22s, GHANA 26s and 30s. GHANA 26s trading the most volume with a 16MM traded friday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-68/) - An eventful close to the trading week last week friday as weekly auctions took centre focus. Trading activity was focused in the front end of the curve with 21 and 22 GHGBs in point. Jul and Sept-21 changed hands at an average yield of 17.05%. 23 GHGBs were also seen trading at 19.00% while Nov-26
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-25/) - Last session was calm, investors had a focus on Ghanaian & Nigerian bonds. Trading activity remained in some of the most active names in SSA, NGERIA 32s, 31s, GHANA 49s and 51s. GHANA 49s trading the most volume with a 1.79MM traded yesterday
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-67/) - Offered tone in GHGB trading on the secondary bond market especially in short dates GHGBs. We saw Jul and Sept 21 change hands at 17.00% and 17.15% respectively. Pockets of Mar-23 and Nov-26 were also seen trading at 19.10% and 20.55% respectively. The back end of the curve however remained muted. Going into the day,
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-24/) - Last session was quite active, investors had a focus on Ghanaian & Nigerian bonds. Trading activity remained in some of the most active names in SSA, NGERIA 32s, 47s, GHANA 32s, 27s and 51s. GHANA 32s trading the most volume with a 51.4MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-66/) - GHGB trading remained muted in yet another session. Very little price action was recorded on the day with clips of Jan-22; Apr-24 and Nov-26 changing hands at 18.15%, 19.80% and 20.55% respectively. We expect trading activity to pick up in upcoming sessions. On a YTD basis, yields at the front to belly of the curve witnessed an average decline of 96bps while the back end
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-65/) - Sideway trading in yesterday's session as the book build process for upcoming 5 yr issuance was underway. Price action was focused in the front end of the curve with 21s in focus. Jul-21 and Sept-21 changed hands at 16.95% and 16.90% respectively. Clips of 23s were also seen trading at 19.15% levels. We expect to
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-23/) - Last session was calm, investors had a focus on Kenyan & Nigerian bonds. Trading activity remained in some of the most active names in SSA, NGERIA 47's, 32s and KENINT 24s. KENINT 24s's trading the most volume with a 5MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-64/) - A dull session recorded in GHGB trading yesterday as investors waited on pricing information regarding the upcoming 5 year bond issuance. Apr-24 changed hands early in the session at an average yield of 19.75%. IPG for the 5-year bond auction was announced after the close at a range of 19.60% — 19.85%. We expect trading
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-22/) - Last session was quite active, investors had a strong focus on Ivorian bonds. Trading activity remained in some of the most active names in SSA, GHANA 51's, 32s and 26s and IVYCST 40s, 48s and 31s. IVYCST 40's trading the most volume with a 134MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-63/) - GHGB trading kicked off the week unchanged as investors awaited the IPG on upcoming 5 year issuance. Sept-21 and Oct-22 took focus in yesterday's session with fair clips traded at 17.00% and 18.35% respectively. Going into the session we expect price action in 24s and 25s. GHGBs to watch include Mar-and Apr- 24s; Jan and
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-21/) - Last session was quite active, investors had a strong focus on Ivorian bonds. Trading activity remained in some of the most active names in SSA, GHANA 49's and 305s and IVYCST 33's, 40s, 48s and 31s. IVYCST 40's trading the most volume with a 137MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-62/) - GHGB trading last week friday was flat as primary market auctions took place. Trading activity was seen in Mar 21; Mar-25 and Nov-26 at 16.50%, 19.80% and 20.40%. The corporate front also saw decent clips of ESLA 31 change hands at 23.00%. We expect secondary market activity to pick up in upcoming sessions stimulated by
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-20/) - Last session was calm, investors had a focus on Ghanaian & Ivorian bonds. Trading activity remained in some of the most active names in SSA, GHANA 49's,32's and 30's and IVYCST 33's and 28's. GHANA 49's trading the most volume with a 2.13MM traded Friday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-61/) - Fair activity recorded in GHGB trading with market focus still skewed in the belly of the curve. 23 and 24 maturities traded at an average yield of 19.00% and 19.80% respectively. The back end of the curve remained muted with 2-way quotes on Mar 32 and July 34 remaining unchanged at 21.60/21.30 and 21.75/21.60 respectively.
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-19/) - Last session was calm, investors had a focus on Nigerian & Kenyan bonds. Trading activity remained in some of the most active names in SSA, NGERIA 25's and GHANA 30's. ANGOL 25's trading the most volume with a 5MM traded yesterday.
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-18/) - Last session was calm, investors had a focus on Nigerian & Ghanaian bonds. Trading activity remained in some of the most active names in SSA, GHANA 27's, 29s and 48's, NGERIA 49's, 47's and 32's. NGERIA 47's trading the most volume with a 2.55MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-60/) - An active session recorded in GHGB trading yesterday with majority of price action seen in the belly of the yield curve. Mar-23; Apr-24; Apr-25 changed hands at 19.10%, 19.80% and 20.00% respectively. Clips of Mar 25 also traded at 19.70% levels. We expect price action to remain skewed in the belly of the curve of
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-59/) - In GHGBs, increased trading was seen in the front and mid section of the curve, GHGBs in point included Sept-21, Mar-23 and Apr-24s which changed hands at 17.00%, 19.20% and 19.70% respectively. Generally, yields across the curve seem to be trending higher presenting value opportunities for the buy-side. We expect market activity to pick up
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-17/) - Last session was quite active, investors had a focus on Ivory Coast & Ghanaian bonds. Trading activity remained in some of the most active names in SSA, IVYCST 30's, 40's and 48's, GHANA 26's, 29's and 30's. IVYCST 30's trading the most volume with a 28.28MM traded yesterday.
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-16/) - Last session was calm, investors had a focus on Nigerian & Ghanaian bonds. Trading activity remained in some of the most active names in SSA, GHANA 27's and 51's, NGERIA 47's and 27's. NGERIA 47's trading the most volume with a 6MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-58/) - The trading week kicked off with fair interest seem across the curve. The front end saw Jul-21 trade at 16.50% levels, the mid section saw Feb and Mar 23 trade at 19.00% and Nov-26 at 20.55%. The back end saw Jun-29 trade at 20.94% levels. We expect activity to pick up steadily as the week
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-57/) - A flat session recorded in GHGB trading last week friday with the 2 year mobbing up market liquidity. Price action on the day was seen in early 21 tenures with Mar-21 in focus at 16.60% levels. At the weekly bills auction, government raised GHS 495 million in 91-day bills at 14.05%, GHS 104 million in
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-15/) - Last session was calm, investors had a focus on Nigerian & Ghanaian bonds. Trading activity remained in some of the most active names in SSA, GHANA 51's and NGERIA 22's. ACCESS 21's trading the most volume with a 2.2MM traded Friday.
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-14/) - Last session was calm, investors had a focus on Nigerian & Ivorian bonds. Trading activity remained in some of the most active names in SSA, IVYCST 33's and NGERIA 30's. UBANL 22's trading the most volume with a 2MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-56/) - Subdued activity in GHGB trading yesterday with focus mainly on auction. GHGB in focus yesterday included Aug-27, June-29 and Mar 32. We see yields in the back end of the curve rallying in upcoming sessions on the back of strong local demand. On the primary market front, government raised a total of GHS 1.5 billion
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-55/) - A generally inactive session recorded in GHGB trading on the e-bond market yesterday. Fair bit of trading was seen in the mid section of the curve. Decent clips of GHGB Nov-26 and Aug-27 traded at 20.30% and 20.10% respectively. Overall market continues to remains net offered with the mid to back end of the curve still
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-13/) - Last session was calm, investors had a strong focus on Nigerian eurobonds. Trading activity remained in some of the most active names in SSA, NGERIA 27's, and 25's. NGERIA 27's trading the most volume with a 854K traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-54/) - A generally flat session recorded in GHGB trading yesterday as local investors awaited price guidance on upcoming 2 year issuance with came in at 18.25% - 18.50% after the close. The mid section of the curve saw some price action in Mar -24s which traded in decent sizes at an average yield of 19.70%. We
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-12/) - Last session was active, investors had a strong focus on Ivory Coast eurobonds. Trading activity remained in some of the most active names in SSA, IVYCST 48's, 40's and 31's. KENINT and GHANA also featured predominantly in the trading session with decent volumes being traded. KENINT 32 trading the most volume with a 17.93MM traded yesterday.
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-53/) - Fair market activity recorded yesterday in GHGB trading. 21s interest dominated the market with decent clips of Mar-21 trading at 16.40%. We expect market activity to pick up as the month comes to a close.
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-11/) - Past sessions were calm, investors are still focused on Nigerian and Ghanaian eurobonds. Trading activity remained in some of the most active names in SSA, NGERIA 27's, 25's and 22's. KENINT and GHANA also featured predominantly in the trading session with decent volumes being traded. ETINL 24 trading the most volume with a 200M traded yesterday
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-10/) - The last trading session of the week was calm, investors were still focused on Nigerian and Ghanaian eurobonds. Trading activity remained in some of the most active names in SSA, NGERIA 27's, 25's and 22's. KENINT and GHANA also featured predominantly in the trading session with decent volumes being traded. NGERIA 25 trading the most volume with
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-9/) - The trading day was calm, the main focus was in Nigerian and Ghanaian eurobonds. Trading activity remained in some of the most active names in SSA, NGERIA 30's, 27's and 47's. KENINT and GHANA also featured predominantly in the trading session with decent volumes being traded. NGERIA 30 trading the most volume with a 2.2MM traded followed
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-8/) - The trading day was calm on SSA Eurobonds as Nigerian investors were mainly trading locally due to FX restrictions. We expect more activity for the end of the week as some of them are showing interest on investing in WAEMU eurobonds. Trading activity remained in some of the most active names in SSA, NGERIA 31's, 25's
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-52/) - Price action was seen across the curve in yesterday's e-bond trading session. Majority of trading interest on the day was in Jan-22 and Aug-27 at an average yield of 17.90% and 20.20% respectively. More notable moves were also spotted in Mar-24 and Nov-26 which changed hands at 19.95% and 20.55% respectively. We see local demand
- [ssa commentary](https://www.gfxbrokers.com/ssa-commentary-7/) - The trading day remained fairly active with SSA Eurobonds going through a fairly active selloff session yesterday. Increasing anxiety about the global increase in Covid cases and some developed economies considering a second round of lockdowns seems to be fueling the reposition in SSA coupled with a expected headwinds from the previous week. Trading activity
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-51/) - A lacklustre open to the trading week with the front end still in focus. Majority of yesterday's flow was in USD Nov-20 at 2.7%. The mid end of the curve saw clips of Mar-25; Nov-26 and Aug-27 trade at 19.70%, 20.55% and 20.10% respectively. With majority of trading concentrated in the front to mid section
- [ghana market commentary](https://www.gfxbrokers.com/ghana-market-commentary-50/) - A muted session recorded in GHGB trading on the e bond market with investors awaiting IPG on government's 3 year bond issuance. Clips of 22 maturities (May& Nov 22) were seen changing hands at 18.05% and 17.50% respectively. We expect 23 maturities to dominate trading in today's session. GHGB to watch include Feb 23; Mar-23 and
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghgb-commentary-9/) - A fairly active session in trading yesterday with the front end of the curve in focus. Price action on the day centred mainly in GHGB Jul-22 at an average yield of 18.00%. Decent volumes of Mar-21 and Aug-22 also changed hands at 16.50 and 18.15% respectively. On the primary market front, government bookrunners announced a September
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-49/) - Activity in long dated GHGBs picked up in yesterday session with decent clips of June 29s and Mar 32 changing hands at 21.07% and 21.00% respectively. Overall market turnover as investors look forward to the release of governments issuance calendar for the rest of the year. We see market interest picking up in upcoming sessions
- [SSA Commentary](https://www.gfxbrokers.com/ssa-commentary-6/) - As a result of the Covid-19 pandemic, it is expected that container traffic at Ghana’s ports has declined in the second and third quarters of 2020 as economic activities measured by container traffic at both Tema and Takoradi ports declined by 7.3 percent in first-quarter 2020. Year-on-year, however, total container traffic increased by 12.6 percent
- [SSA Commentary](https://www.gfxbrokers.com/ssa-commentary-5/) - As widely expected, the arrival of COVID-19 in Ghana and the requisite public policy responses resulted in a significant slowdown in Foreign Direct Investment (FDI) commitments into the country, data released by the Ghana Investment Promotion Centre earlier this week has confirmed. The total FDI value for that period of April to June 2020 was
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-48/) - Price action in GHGBs on the secondary bond market was focused in Nov-26 and Aug 27 at 20.50% and 19.95% respectively. On the primary market front, the government raised a total of GHS867m against a target of GHS600m in the 2-year auction. We expect a dampened session today with weekly auctions underway. Government will seek
- [SSA Commentary](https://www.gfxbrokers.com/ssa-commentary-4/) - Ghana is expected to witness a $10 billion boost in her economy with government’s plan of exploiting bauxite and aluminum reserves into the Integrated Aluminum Industry. Coupled with a Recovery Plan of retrofitting the VALCO refinery plant, three new bauxite mines, and at least two refineries in addition to the existing smelter are expected to be established.
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-47/) - Another subtle session recorded yesterday in GHGB trading as primary market auctions dominated headlines. Market continues to remain net offered especially in the mid section of the curve. Price action on the day was mainly in Mar-21 and Nov-26 at 16.50% and 20.60% respectively. GHGBs to watch going into the open include Aug-27 and May-28
- [SSA Commentary](https://www.gfxbrokers.com/ssa-commentary-3/) - This week, government of Ghana will issue cedi denominated domestic debt securities in the form of two-year treasury notes which matures in August 2022, with a targeted amount of GH¢600 million. To date, government has issued GH¢1,153.49 million in two-year treasury notes , at an average yield rate of 16.93 per cent.Increased liquidity on the
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-46/) - Another dull session recorded in GHGB trading as market participants awaited IPG on upcoming 2-year auction which came in after the close at 17.75% – 18.25%. Price action on the day was focused in Nov-26 and Aug-27 at 20.35% and 19.97% respectively. We see activity picking in today's session. GHGBs to watch include Nov-22 and
- [SSA Commentary](https://www.gfxbrokers.com/ssa-commentary-2/) - Ghana’s sovereign ratings may be downgraded to negative if large fiscal deficit and public debt are not addressed, according to Ratings Agency, Fitch. Fitch said in its latest review of the economy that the nation’s pursue of fiscal consolidation which will be slower than earlier anticipated may lead to a higher public debt trajectory and
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-45/) - Sluggish start to GHGB trading on Monday. Price action was focused in Nov-22, Jul-24 and Aug-27 at 18.40%, 19.35% and 19.97%. Market continues to be net offered with yields in the mid to back end of the curve inching up slightly. We expect demand to pick up as the week progresses.
- [SSA Commentary](https://www.gfxbrokers.com/ssa-commentary/) - The government of Ghana has reduced the Communications Services Tax (CST) from 9 percent to five percent, Mr Anokye, Director General of the National Communications Authority has announced. This is to enable people ,businesses and households to communicate effectively using information, communication and technology (IVT) tools to operate remotely amidst the COVID-19 pandemic period. Thus, Ghanaians
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-44/) - Trading last week friday was dominated in Nov-22 and Nov-26 at 20.25% and 18.15% respectively. Pockets of Apr 24 also traded at 19.25 levels. The session was generally quiet with strong local demand missing in action. We expect bidding to improve in upcoming sessions. On the primary market front, government bookrunners announced the details for
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-52/) - Restrictions on movement of goods and people imposed by the Ghanaian government to contain spread of the Coronavirus pandemic has significantly affected revenue generated from international trade. The First Quarter Bulletin report by the Bank of Ghana shows taxes generated from international trade recorded GH¢829.7million, lower than the budget target of GH¢1.2billion, and still lower
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-51/) - The Producer Price Index has for the first time since the novel Coronavirus was reported in Ghana in March reduced marginally. The index decreased from the 9.5% recorded in June to 9.3% in July as a result of a decrease in the inflation rate in the Utility sub-sector. According to the Ghana Statistical Service, inflation
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-43/) - An uneventful trading session recorded yesterday in GHGB trading. We saw majority of investor interest swing between Nov-22 at 18.15% and Jul-24 at 19.55%. Clips of June-21 and Sept 21 also changed hands at 16.40% and 16.85% respectively. Overall market remains net offered with the mid to back end of the curve continuing to look relatively cheaper. We
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-50/) - According to Courage Martey, an economist with investment banking firm Databank, the Ghanaian government’s decision to suspend the fiscal rules till at least 2024 is a risky adventure. “The government currently finds itself between a rock and a hard place. It’s difficult to comply with a 5 percent [of GDP] deficit limit and a primary
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-42/) - Similar to Monday's session price action was focused in the near-to-mid section of the yield curve. Nov-22 continued to dominate trading with over FV 50mn changing hands at an average yield of 18.20%. Jul-24 also saw decent volumes trade at 19.60%. We see elevated inflationary pressures posing a risk to GHGBs yields thus expect the
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-49/) - Government revenues in Africa are estimated to drop in 2020 by $45 billion, from the pre-COVID forecast, the African Union (AU) Chairperson, President Cyril Ramaphosa of South Africa, has said. This depreciation would further compound African countries’ high levels of debt, which had increased to roughly $40 billion annually, driven higher by the depreciation of
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-41/) - An unusually brisk kick off to the trading week with GHGBs opening the week on a mixed note. Price action was seen in the near -to-mid section of the yield curve. We saw Nov-22 sell off quiet aggressively at an average yield of 18.20% after opening the session quoted at 17.80/17.55 levels. Good volumes of Mar-21, Apr-25
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-48/) - Government of Ghana has issued the budget guidelines for the 2021-2024 fiscal period which reveal the key fiscal targets for 2021. Total Revenue and Grants are projected at GHc 56,956 million, or 13 percent of GDP, for 2021 based on the 2021 fiscal framework, and this represents a nominal growth of 9.7 percent over the
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-40/) - A dull session recorded in trading last week friday. GHGBs traded included Nov-22, Nov-26 and ESLA -31 at 17.70%, 20.20% and 22.10% respectively. We see demand for GHGBs picking up in upcoming sessions with highlights in mid and long dated bonds.
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-47/) - Ghana could have earned more from the rising price of Gold if it had provided more incentives to attract investment into the mining industry, the Ghana Chamber of Mines has said. The price of Gold has risen in value by a fifth since the outbreak of the COVID-19 pandemic supported by the soured US-China relations,
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-39/) - Another uneventful session recorded in GHGB trading on the secondary market with investor focus fixed on government upcoming 6 year issuance. The market was generally net offered with price action on the day as focused in Mar-21, Nov-22, Nov-26 and June-29 at 16.65%, 17.90%, 20.20% and 20.85% respectively. We expect a similar narrative going into
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-46/) - Ghana’s inflation rate remained above the central bank’s target range for a fourth straight month in July. Annual consumer inflation accelerated to a 31-month high of 11.4% in July, a marginal rise from 11.2 percent in June 2020. Except for fuels, most product categories saw month-on-month inflation rates comparable to the period of October 2019
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-38/) - Another subdued trading session in the secondary bond market following the release of a better than expected IPG for the upcoming 7 year issuance. Price action on the day was focused in Jan-21 and June-29 which traded at 16.10% and 21.00% respectively. On the data front, Ghana’s inflation rate remained above the central bank’s target
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-45/) - According to the Bank of Ghana, bank customers have started running to foreign currency deposits as a safe haven after the cedi consistently lost value against its major trading currencies, especially the US dollar in the second quarter of 2020, the Statistical Bulletin report has shown. April and May foreign currency deposits increased to GH¢22.6
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-37/) - A fairly flat trading session recorded yesterday with investor attention focused on IPG of upcoming 7 year issuance. Front end price action dominated the session with over 10m of Mar-23 changing hands at 18.90%. Small clips of Nov-20; Feb-22 and June-29s also traded at 15.40%; 17.30% and 20.10% respectively. We expect interest in duration to
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-44/) - Commodity Analyst, Esoko Ghana, says the prices of some foodstuff are likely to see a further reduction in the month of August. The prediction is based on the rains witnessed in the first half of the year as well as the easing of COVID-19 restrictions.In July, there was significant price reductions for some commodities across
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-36/) - Price action in duration continues to dominate GHGB trading. Monday's session saw over 20m of June 29 change hands at 21.00%. Decent volumes of Nov-26 also traded at 20.15%. On the front end, we saw Mar-21 trade at 16.35%. On the data front, IPG for government's upcoming 7 year issuance is due today and CPI
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-43/) - The Institute of Fiscal Studies, IFS, has urged government to immediately seek debt reliefs and cancellation from its major creditors.According to the Institute, while it is true that the pandemic has affected the country’s fiscal position, the ‘head-scratching choices’ of the government to alleviate the economic impact of the pandemic puts the country in a
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-35/) - Duration dominated trading last week friday with a total of 50m of June 29 changing hands at an average yield of 21.05%. Offers in Nov-26 crossed the 20% mark with small clips trading at 20.18%. Price action was also seen in Jul-24 at 19.60%.
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-42/) - The Board of Directors of the African Development Fund (ADF) has approved a US$69million grant to support Ghana’s efforts in tackling the COVID-19 pandemic and to mitigate its socio-economic impact on the nation. This is to provide fiscal budget support to finance government’s national COVID-19 Emergency Preparedness and Response Plan and Coronavirus Alleviation Programme. Hopefully,
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-34/) - Secondary market was active compared to the Wednesday. Majority of price action was seen in ESLA 31 at an average yield of 22.30%. The govies front saw 23s, 24s and 25s changed hands at 18.70%, 19.40% and 19.30% respectively. Mid way through the trading session, bookrunners announced government's plans to issue a 7 year treasury bond( rollover).
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-41/) - The decline in economic activity forced upon the Ghanaian economy by the COVID 19 outbreak has inevitably led to a slowdown in liquidity growth. Total liquidity growth (measured by M2+) grew year on year by 20.1 percent in June 2020, down from year on year growth of 22.1 percent as at December 2019. This is
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-33/) - Another uneventful session recorded in GHGB trading as market participants continue to think around the near term yield outlook following the country's fiscal performance in the first half of the year. Trading activity on the day was skewed towards in the money market front. Decent clips of Nov-22 also traded at 17.60%. We expect activity
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-40/) - A Reuters poll of London cocoa futures forecast cocoa would cost 10% less at the end of the year, because of rising production and a hit to demand from the coronavirus crisis. On the other hand, Gold offers Ghanaian economy hope amid this pandemic. Gold has soared roughly 30percent in 2020 with more gains predicted in
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-32/) - An uneventful trading session on Monday ahead of the holiday. The GHGB continues to be well offered in the mid and back with highlights in Nov 26s and Mar 32 offered at 20.00% and 21.20% respectively. On the auction front, government will look to primary markets for 2-year, 7-year and 20-year bond issues this month.
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-39/) - A new report by the Bank of Ghana shows that the country received a total of 310.14 million dollars into Ghana’s Petroleum Holding Fund (PHF) for the first half of 2020. Compared to same period in 2019, the figure dropped by $124. 34 million dollars as the figure for last year was $434.48 million dollars.On
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-31/) - The last day of the month was marked by very little trading on the secondary market. The market mostly net offered with very little bids. A handful of bids were seen in the Jul 24 paper as well at 19.90 lvls. We expect a fairly similar tone in today's session with market participants focusing on end of month
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-38/) - Ghana’s Parliament, on Wednesday, 29 July 2020, passed Finance Minister Ken Ofori-Atta’s request for GHS11.8 billion to supplement the 2020 budget in the face of the economic devastation caused by the COVID-19 pandemic. Mr Ofori-Atta has also projected Ghana’s fiscal deficit to hit 11.4% as a result of a GH¢13.6 billion revenue shortfall occasioned by the COVID-19
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-30/) - Another dull session recorded in trading on the secondary bond market. Price action was skewed towards the mid and back end of the curve. Notable trades included Jan-25; Nov-26 and Mar-32 changing hands at 19.30%, 20.05% and 20.75% respectively. We expect duration to dominate trading in today's session.
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-37/) - Government intends to drive up its tax revenue to 20 percent of GDP by 2023 as the Finance ministry seeks to nearly double the amount of taxes collected over the next three year. Reduced export earnings coupled with limited revenue from the country’s oil reserves due to the impact of the Covid-19 pandemic has informed
- [Ghana Market Color](https://www.gfxbrokers.com/ghana-market-color-5/) - The secondary bond market recorded a subdued session with GHGBs remaining largely net offered on the day. We expect trading activity to pick up as the trading week progresses with interest in the back end of the curve. GHGBs to watch included Nov-26 and Mar-32 currently quoted 20.50/19.90 and 21.45/21.30 respectively.
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-36/) - The MPC of the Bank of Ghana decided to maintain the policy rate at 14.5% amid the current extraordinary circumstances, widened budget deficit and a residual financing gap. Essentially, Ghana’s debt stock has risen to GHS255.7 billion, as of June 2020, representing 66.36 percent of GDP. The economic pressures brought about by the Covid-19 saw
- [Ghana Market Color](https://www.gfxbrokers.com/ghana-market-color-4/) - A sluggish kick off to the trading week with market participants still digesting last week's mid-year budget reading. That said, the running theme on the day was front end over duration. We saw decent clips of Sept-20 and Feb-21 trade at 15.15% and 16.10% respectively. The back end of the curve remained net offered through
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-29/) - A slumped session in GHGB trading last week Friday as weekly primary auction took place. Interest on the day was focused in the newly issued cocoa bill which trading from 17.50% all through to 17.15%. We expect demand for GHGBs to pick up this week fueled by local real money. Government raised a total of government raised
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-35/) - Ghana’s debt stock has risen to GHS255.7 billion, as of June 2020. Some GHS50 billion has been added to the debt stock in the last 12 months. Provisional figures from the Finance Minister, Ken Ofori-Atta, indicated that the current debt stock is 66.36 percent of GDP. “The increase was mainly as a result of a Eurobond issuance
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-34/) - Government requests GH¢11.8bn supplementary budget amid coronavirus threats Finance Minister Ken Ofori-Atta has requested GH¢ 11. 8 billion supplementary budget from Parliament to sponsor government’s expenditure for the rest of the year.This tabled request is expected to help government finance various projects due to the revenue shortfalls and budget deficit created by the impact of the coronavirus
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-28/) - Another fairly active session recorded in GHGB trading yesterday. Price action was focused yet again in June-25 with over FV 50m trading at 19.40%. Clips of Oct-20; Oct-21; Apr-23 and Jul-26 also traded at 15.15%; 16.80%;18.30% and 19.30% respectively. We expect the trading week to end on a light note with weekly auctions underway and
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-27/) - Another fairly active session recorded in GHGB trading with price action focused on June-25 at an average yield of 19.50%. The credit side also saw decent clips of ESLA-27 and ESLA 31 change hands at 19.65% and 22.75% respectively. On the data front, market participants will shift their attention to mid-year budget review, which will
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-33/) - The Producer Price Inflation rate for June 2020 was 8.7 percent, the Ghana Statistical Service (GSS) has announced on Wednesday July 22. This rate, according to the GSS, indicates that between June 2019 and June 2020 (year-on-year), the PPI increased by 8.7 percent, representing a 0.3 percentage point increase in producer inflation relative to the
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-32/) - The Chamber of Petroleum Consumers Ghana, COPEC, says government would have to be more serious about broadening the tax net especially by capturing the informal sector if it hopes to make up for the revenue shortfalls created by fallen crude oil prices.According to the Fiscal Development Report (May 2020), out of the GH¢1.9 billion projected
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-26/) - A fairly active session in GHGB trading as market participants sought out opportunities in duration. Close to 50% of volumes traded on the day was focused in June-29s at an yield of 21.00%. Other notable trades included Oct-20; Mar-21 and Nov-26 at 15.10%; 16.30% and 19.40% respectively. The credit side continues to see ESLA-31 trade aggressively
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-31/) - Economist, Dr. Lord Mensah, says he does not foresee an increase in the policy rate anytime soon. According to him, the Central Bank is likely to either maintain or reduce it further to cushion businesses as they are already struggling due to the impact of the Covid-19. With the impact of the coronavirus having a
- [Ghana Market Color](https://www.gfxbrokers.com/ghana-market-color-3/) - A slow start to the trading week with market participants taking time to access value opportunities. On the GHGB side, price action was focused on the very front end of the curve with decent clips of Oct-20 and Feb-21 changing hands at 15.10% and 16.45% respectively. The back end of the curve (June-29) was better offered at
- [Ghana Market Commnetary](https://www.gfxbrokers.com/ghana-market-commnetary/) - A moderately active session recorded in GHGB trading last week Friday as weekly government auctions took place. Going into the week, we expect trading activity to pick up in mid and back end of the GHGB yield curve with flows driven by both local and offshore market participants. At the weekly front, government raised a total
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-30/) - In an effort to further protect investors, the Securities and Exchange Commission of Ghana has issued a new directive to all Capital Market Operators who open, maintain and operate Trust Accounts for and on behalf of its clients, effective Thursday, July 16, 2020. A Trust Account as determined by SEC, shall not contain any other money except
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-29/) - For the first time since April 2020, inflation has started showing signs of decline after the food basket recorded a slower pace of rising prices. This was largely occasioned by an appreciable decline in the food and beverages basket, which has been the main factor driving up inflation. The food and non-alcoholic beverages sector recorded
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-25/) - The secondary bond market was fairly active is yesterday's trading session. Notable trades recorded included Feb-21; Jan 23 and ESLA-31 trading at 16.70%, 18.70% and 23.15% respectively. On the auction front, government raised a total of GHS 358,547,933 against a target of GHS 800m in 6 year treasury bond. We expect pockets of activity in
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-24/) - The government of Ghana will today start the process for the issuance of six-year treasury bonds with the opening of the book-build. According to an announcement made by the Bank of Ghana on Tuesday, July 14, 2020, the Bonds will mature in 2026.Per the government’s debt issuance calendar for June to August 2020, an amount
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-23/) - Secondary market was somewhat vibrant on Tuesday with price action recorded across the curve. Decent buying and selling interest was seen from local asset managers as they attempt to balance their portfolios ahead of government upcoming 6 year issuance. Price action was seen in Jan-21; Mar-21; May-22 and June-25 at 16.50%, 16.35%; 19.33% and 19.55%
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-28/) - The national petroleum commission of Ghana has said that an estimated US$324million worth of drilling, acquisition and interpretation of seismic, geological and geophysics data projects have been postponed across the petroleum upstream sector, the National Petroleum Commission has said as the coronavirus pandemic continues to wreak havoc on the country’s oil and gas industry. According
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-22/) - The secondary bond market opened the trading week on an upbeat note with over 100m worth of GHGBs changing hands. Majority of monday's price action was focused in June 25s, trading at an average yield 19.55%. Jul-22 also traded heavily at 17.35%. Going into today's session, we expect more price action in the belly of the curve.
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-27/) - The Chief Executive of the Petroleum Commission, Egbert Faibille Jnr., has disclosed Ghana lost GH¢5.7 billion (US $1.04 billion) in oil and gas revenue following the corona virus pandemic. Against this backdrop, Mr Faibille said an initial impact analysis on the sector showed an expected decline in growth rate of Gross Domestic Product (GDP) from
- [Ghana Market Color](https://www.gfxbrokers.com/ghana-market-color-2/) - Demand of GHGBs picked in last week's friday's session with price action focused in the mid section of the yield curve. The trade session saw decent clips of Jul-24 and June-25 change hands at 19.25% and 19.55% respectively. The credit side saw ESLA 31 continue to rally with over 40m trading at an average yield
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-26/) - Banks and other financial institutions face the risk of seeing their loan defaulters increase this year, as data from the Bank of Ghana shows the Non-Performing Loans (NPLs) have started rising due to the challenging business environment brought on by the corona virus pandemic. After declining to 14.3 percent in December 2019 from the 18.8
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-21/) - Another slumped session recorded in GHGB trading with local real money interest still focused on the money market front. Decent activity was recorded late afternoon in Jul-24 and Nov-26 at 19.35% and 19.85% respectively. We expect activity in 2023 maturities as the trading week comes to a close. On the primary market front, government will
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-25/) - Economist and Business Consultant, Dr. Ebenezer Ashley has indicated that the Ghana cedi has recorded its all-time best performance for the first half of 2020 than the first six months of any year since 2012 against the U.S dollar.Supporting his claims with the data, Dr. Ashley indicated that “you see as the data shows, the
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-20/) - The secondary bond market was unusually quiet in yesterday's session with local real money attention focused more on the money market side. The credit front saw ESLA 31 rally aggressively from the 24.55% lows seen in the trading month of June 2020 to 23.40% levels. We expect GHGB trading activity to pick up going into the rest of
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-24/) - Ghana’s budget deficit for 2020 will swell to more than double the legal limit because of the impact of the corona virus on the economy, undoing years of fiscal discipline that was supposed to mark the end of persistent financial bailouts. The fiscal gap is forecast to widen beyond 10% of gross domestic product from an adjusted
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-19/) - Another dull session recorded in GHGB trading on the secondary bond market. Small clips on Dec-20s; Mar-21 and Apr-24 changed hands at 16.10%; 16.50% and 18.60% respectively. On the credit side, decent clips of ESLA-31 traded hands at 24.50%. We expect local real money demand fuel trading activity up as the week progresses.
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-23/) - Government of Ghana has announced its’ plans to borrow a gross amount of GH¢17,837.87 million for June to August this year. Of this amount, GH¢15,806.61 million would be used to rollover maturities while the remaining GH¢2,031.26 million would be used as fresh issuance to meet government’s financing requirements. Bank of Ghana’s (BoG) Monetary Policy Committee
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-18/) - A sluggish kick off to the trading week with market liquidity still thin following government's 5 year issuance. That said, Mar-32 was the focus on the day with FV 50m changing hands at 21.00%. On the data front, June 2020 report for Foreign investor local debt holdings was down further at 21.46% from 21.80% in May (net drop
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-17/) - A flat session recorded in GHGB trading last week Friday as weekly government auctions took place. Government raised a total of GHS 534.16 in 91 and 182 day bills at 13.97% and 14.09% respectively. Going into the week, we expect trading activity to pick up in mid and back end of the GHGB yield curve as both
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-22/) - The African Continental Free Trade Area (AfCFTA) Secretariat is now targeting January 2021 for the commencement of the implementation of the pan African free trade agreement following its postponement due to the outbreak of the corona virus pandemic. The implementation of AfCFTA will require Member Countries to liberalize at least 97 per cent of their
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-21/) - Effective September this year, Ghana will commence its second Automatic Exchange of Financial Account Information Standard (AEOI) for tax purposes with its partner countries. Automatic Exchange of Information has been one of the two standardised components of Intergovernmental co-operation aiming at addressing cross-border tax evasion, which has become a major source of illicit financial flows.
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-16/) - Price action in trading yesterday was heavily skewed towards the back end of the yield curve where we continue to see selling interest. Good volumes of Mar-32 changed hands at 21.30%. On the near end, we saw clips Mar-21 and Jan-22 trade at 15.95% and 16.85% respectively. Jul-24 and Nov-26 also traded at 19.30% and 19.65%. We
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-20/) - The Ghana Country Director of the World Bank, Pierre Frank Laporte, says the bank is currently processing financial support that could reach up to US$715m to help the government combat the Covid-19 pandemic as well as execute other projects. This amount follows a similar support offered by the bank at the onset of the pandemic in early
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-19/) - In spite of the annihilative impact of the corona virus pandemic on the country’s local currency, making it record its highest depreciation against the US dollar since the beginning of the year, the Bank of Ghana (BoG) says it expects the cedi to gain stability as pressure on it has started easing. However, it appreciated 1.22 percent
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-18/) - The Ghana economy lost traction in the first quarter of this year on the back of the fallout from Covid-19, with GDP growth slowing from 7.9% year-on-year in Q4 2019 to a near four-year low of 4.9%. Meanwhile, the economy grew 1.2% over the prior quarter on a seasonally-adjusted basis, down from the over two-year high
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-17/) - The total volume of laden containers handled by the two seaports—Tema and Takoradi— rose by 12.6 percent year-on-year in the first quarter of 2020, despite the Covid-induced restrictions and disruptions to trade and supply chains, according to the Bank of Ghana’s (BoG) Real Sector Developments Report for the period. Container traffic for the first quarter
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-15/) - Fair activity was recorded across the GHGB curve in yesterday's session. The short dated bonds traded at 16.25% levels while the back end of the curve traded at 20.75% levels. On the primary side, the June 2025 bond cleared at 19.25% with a total issuance size of GHS1.46 billion. Settlement is slotted for Monday, 29th
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-16/) - Ghana’s central bank may wait six months before it considers raising rates, even as inflation accelerated further above its target range for a second straight month in May. The impact of the virus may only begin to subside from next year, he said. “The rate of inflation has jumped outside the central bank’s target range,”
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-15/) - In the first half of 2020, the Bank of Ghana has committed a total of US$ 375 million onto the forex market through its forex forward auctions, following the twelfth FX forward auction for the year. Bids submitted during the auctions for the half-year amounted to US$ 927.14 million, of which US$ 453.04 million and
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-14/) - Secondary market was relatively flat on Wednesday as the book building process for the upcoming 5 year issuance was underway. Price action on the day was in 21 and 22 maturities at 16.15% and 17.00% respectively. Given positive local real money sentiment on upcoming issuance we expect a drop in secondary market activity levels for
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-14/) - Kenya’s National Assembly approved the Finance Bill 2020 which includes Zero-rating value-added tax on wheat and maize flour, removal of excise duty on betting, rental income tax of 10% on gross income; capped annual rental income to be taxed at 15 million shillings from 10 million shillings.Capital Markets Authority to regulate private equity- and venture-capital
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-13/) - Another lacklustre session recorded in GHGB trading on the secondary bond market with market participants remaining defensive with both bidding and selling interests. Price action on the day was heavily skewed towards 24 maturities with over GHS 30m of Jul-24 changing hands at an average yield of 19.37%. Nov-21 and Nov 22 also traded at 16.43% and
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-12/) - Last week's Friday's price action was skewed towards the belly of the curve as expected. Majority of trading interest on the day was spotted in Apr-24 and Jan-25 at 19.30% and 19.25% respectively. On the credit side, The ESLA 31 maturity continues to be aggressively offered with decent clips trading north of 24.00% levels. On the primary
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-13/) - Unbudgeted expenditure, largely occasioned by emergency spending to contain the spread of the corona virus pandemic that was first recorded on March 12 in the country, has astronomically shot up the budget deficit by nearly double in the first quarter of the year. Fiscal Development Report (May 2020) released by the Bank of Ghana shows that government
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-11/) - Another lacklustre session recorded in GHGB trading on the secondary bond market. Price action was focused largely in the belly of the curve with decent clips of Apr-24 and Jan-25s trading at 19.35% and 19.30% respectively. Early 21 maturities also traded at an average yield of 15.65%. The back end of the end remained muted through out
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-12/) - An Orange SA West African subsidiary is issuing debt on the regional market for the first time to take advantage of higher demand for digital services amid the corona virus pandemic.The outbreak of Covid-19 and subsequent lockdowns has made a plan by Dakar-based Sonatel’s to raise 100 billion CFA ($171 million) particularly timely. The bond sale is
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-10/) - Subdued trading session recorded yesterday on the secondary bond market as investors remained largely on sidelines, awaiting market information on the upcoming 5 year issuance. On the front end, capped clips of Nov-21 changed hands at 16.80%. The back end of the curve was somewhat muted. We expect market activity to pick up in upcoming
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-11/) - The central bank of Namibia, whose currency is pegged to South Africa’s, diverged from its neighbor’s moves on monetary policy for the first time in two years as the country seeks to balance supporting its economy with safeguarding investment inflows.The monetary policy committee cut the repurchase rate to 4% from 4.25%. While that brings the
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-10/) - Developed nations are considering financial support for a plan to relieve African countries of debt payments without triggering default, according to the United Nations committee steering the initiative.The debt-swap deal would channel payments due this year on international bonds back to the African nations, helping them fight the corona virus and its economic impact. Investors would be compensated
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-9/) - A sluggish start to the trading week with moderate activity recorded on the e-bond market. Price action witnessed yesterday was centred around November dated GHGBs. Decent clips of Nov 20s and 22s changed hands at 16.14% and 17.30% respectively. We expect activity to pick up in the week ahead with key interest in the belly of the
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-9/) - Zambia, which has hired Lazard to advise on a potential debt restructuring, has made an official request to the Paris Club to suspend payments on official obligations.A G-20 initiated plan to suspend debt payments for low-income nations is likely staying within the bounds of official loans, as governments stay clear of the default risk from renegotiating Eurobonds.
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-8/) - The Nigerian National Petroleum Corp. (NNPC) has published audited financial statements online in a bid to improve transparency around its operations.The statements published on the company’s website yesterday were for 2018 and were signed by Chief Executive Officer Mele Kyari. Its oil production subsidiary, the Nigerian Petroleum Development Company, reported a post-tax profit of 179 billion
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-8/) - Muted activity on the secondary bond market in last week's Friday session as investor attention was focused on primary market auctions. As anticipated price action was skewed towards duration with 30m in Jul-32 changing hands at 20.50%. The near end of curve saw clips of Nov-20; Sept-20 and Mar-21 change hands at 15.20%; 15.80% and 16.35%
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-7/) - Secondary market activity was fairly flat in Thursday's trading session. Majority of price action was focused in the front end. Dec-20; Nov-22 and Ju-24 changed hands at 15.75%; 17.35% and 19.30% respectively. The back end saw clips of Jul-34 trade at 20.35%. We still hold the view that duration will dominate front end activity in subsequent
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-7/) - South African mining output dropped the most since at least 1981 in April.Total production decreased 47.3% from a year earlier, compared with an 18% decrease in March, the Pretoria-based Statistics South Africa said on its website Thursday.The median estimate of four economists in a Bloomberg survey was for a contraction of 59.4%. Output fell 34.1%
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-6/) - Ghana Inflation tops 11% for the first time since 2017 on food costs. Food costs increased by 15.1% from 1 year earlier in comparison with 14.4% in April. The primary reason being the panic-buying as well as border closures. With inflation at 11.3% from 10.6% in April, a further pick-up could limit the central bank
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-6/) - Mid week price action on the secondary bond market was unexpectedly focused in near end as buyers and sellers of duration failed to match. Nov-20; Jun-21; Jan-23 and May-23 all changed hands in decent clips at 15.75%; 16.70%; 18.65% and 18.75% respectively. We expect activity in duration to pick up in today's session. GHGB to watch on
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-5/) - The corona virus pandemic could cost Africa as much as $4.8 billion in lost agricultural exports and affect the livelihoods of 10 million farmers, McKinsey & Co. said. Agriculture is key for African economies, accounting for 23% of gross domestic product and jobs for 60% of economically active people in the sub-Saharan region. Agricultural exports
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-5/) - Price action was focused in the mid to back end of the GHGB yield curve in yesterday's trading session. Jan-23 traded at 18.70%; Apr-23 at 18.60%; Apr-25 at 19.25% and Mar 32 at 21.00%. Going into today's session we see an uptick in long dated GHGBs with highlights June 29 and Jul 34 currently being
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-4/) - Strong open to the week inn local secondary bond market yesterday with fair activity seen mostly in the belly of the yield curve. Notable trades recorded during the session included Apr-25 trading at 19.33%; Apr-24 at 19.18%; Apr-23 at 18.40%; and Jul-22 at 17.30%. On the data front, Ghana will issue GHS 17.8 billion worth of bonds
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-4/) - The Chinese government has said it has agreed to suspended debt repayments from 77 developing countries and regions, as part of the Group of 20 nations debt relief programme. In addition to the debt holiday, China has pledged to provide $2 billion to help other countries respond to the impact of the corona virus pandemic.
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-3/) - GHGBs took a breather from a fortnight-long rally last week Friday as weekly primary market auctions went on. Last week Friday's trading session recorded activity mainly in the front end of the curve. Decent clips of Jan-22; May-23 and Apr-24 changed hands at 17.55%; 18.55% and 19.10% respectively. Strong demand for mid to long dated
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-3/) - Minister of Finance, Ken Ofori-Atta hopes to begin a phased issuance of diaspora bonds before the end of 2020 with the entire issuance programme aiming to raise up to US$3 billion in proceeds. The length of the entire programme and the amounts to be issued in each phase are still to be decided. The bonds would be
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary-2/) - Risk on sentiment continues to be the catalyst in the solid gains GHGBs have posted over the week. Yesterday saw another active session trading session with price action largely skewed to the left hand side. The front end saw Aug and Nov 20 trade at averagely 16.00%; Jan and May-22 at 17.55% levels. In the back
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-commentary/) - Active session on the secondary bond market on Wednesday with over GHS 150 m worth of GHGBs changing hands. GHGBs continue perform strongly fuelled by improved offshore sentiment as well as increased domestic demand. Notable traded recorded yesterday included GHS 100m in Jun-21 at 17.35%; GHS 20m of Apr-24 at 19.60% and GHS18.83m of May-23
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary-2/) - Rebound in oil prices has given Nigeria’s Naira a reprieve, easing investors’ concern that a steep devaluation may be unavoidable.Brent crude prices have doubled since hitting a two-decade low in April, and traded close to $40 a barrel on Wednesday. Twelve-month Naira forwards traded at 454.50 per dollar at at 11.43 a.m Wednesday, down from
- [Ghana Market Commentary](https://www.gfxbrokers.com/gfx-ghana-market-color/) - Another net bid session was recorded in trading yesterday. The trading month of June kicked off with GHGBs continuing to rally on the back of increased local demand. Front end activity saw Nov 20 and Sept-21 trade at 16.30% and 18.00% respectively. The mid and back end of the curve saw Jan-25; Nov -26 and
- [Eurobond Commentary](https://www.gfxbrokers.com/eurobond-commentary/) - The government of Ghana has agreed with investors to postpone interest payment on non-marketable domestic bonds held by public institutions to fund the financial sector clean-up for about GH¢1.2 billion (US$207 million), approximately 0.3% of Gross Domestic Product.According to Fitch Solutions, the government of Ghana plans cutting spending on goods and services, transfers, and capital
- [Ghana Market Commentary](https://www.gfxbrokers.com/ghana-market-color/) - GHGBs continue to rally with another net bid session recorded on the secondary market. Activity was seen across the curve with 21 maturities trading at 17.50% levels; Jan & Mar 23 trading at averagely 18.75% and June 29 changing hands at 20.10%. We expect a similar narrative in today's session. GHGBs in highlight include 24 and
- [EUROBOND COMMENTARY](https://www.gfxbrokers.com/gfx-brokers-eurobond-color/) - The Finance Ministry, has said its COVID-19 preliminary assessments, taking into consideration the revenue shortfall impact, direct health-related spending, additional expenditures including programmed expenditures for the Coronavirus Alleviation Programme, the payment of outstanding government claims to health-related sectors of the economy (National Insurance Trust Fund), and identified government intervention programmes, puts the fiscal gap at about GH¢ 21.42 billion
- [GHGB Commentary](https://www.gfxbrokers.com/ghgb-commentary-8/) - Price action in GHGBs last week friday was seen around the 21 and 23 maturities. Sept-21 traded at 18.00%; Jul- 21 at 17.90%. Jan-23 changed hands at 19.00%. We expect a net bid market coming into the new month with the theme lower for longer" standing out. At the weekly auction, the GoG sold GHS465
- [GHGB Commentary](https://www.gfxbrokers.com/ghgb-commentary-7/) - Secondary market was active on Thursday as government bookrunners took orders for the new 3 year auction. Close to 100m worth of GHGBs changed hands in the session re affirming poor investor sentiment towards the new issuance. Price action was dominated more in the front end of the curve with about 67% of volume traded on
- [GHGB Commentary](https://www.gfxbrokers.com/gfx-market-color/) - A flat close to the trading week last week with most of investor attention focused on weekly auction and the upcoming 3 year issuance. GHGBs in action last week included Nov 22; Jan 23; Mar 23 and June 29s. At the weekly auction, the GoG sold GHS854 million in 91-day bills at 14.06% and GHS217
- [GHGB Commentary](https://www.gfxbrokers.com/ghgb-commentary-6/)
- [GHGB Commentary](https://www.gfxbrokers.com/ghana-commentary-2/) - Central Bank Buys $942 Million in Bonds to Support Budget; Ghana's central bank purchased 5.5 billion cedis ($942 million) in bonds to help finance the nation's budget as weak oil prices and the impact of the coronavirus pandemic are eroding government revenue. The 10-year securities have been issued at the monetary policy rate and carry
- [GHCB Commentary](https://www.gfxbrokers.com/ghana-commentary/) - Ghana’s annual inflation rate surged to the highest level in more than two years in April as food-price growth surged during a lockdown of the country’s biggest cities, limiting room for the central bank to stimulate the economy. Consumer inflation quickened to 10.6% after staying unchanged at 7.8% for three consecutive months. Prices rose 3.2%
- [Title of longer blog post](https://www.gfxbrokers.com/test-post/) - Lorem ipsum dolor sit amet, consetetur sadipscing elitr, sed diam nonumy eirmod tempor invidunt ut labore et dolore magna aliquyam erat, sed diam voluptua. At vero eos et accusam et justo duo dolores et ea rebum. Stet clita kasd gubergren, no sea takimata sanctus est Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet,
- [GHGB Commentary](https://www.gfxbrokers.com/ghgb-commentary/) - A flat session recorded in GHGB trading last week Friday. Notable GHGB trades were in Dec-21 and Nov-26 at 19.15% and 20.50% respectively. At the weekly auction, the GoG sold GHS699 million in 91-day bills at 13.95%, GHS117 million in 182-day bills at 14.02% and GHS18 million in 364-day bills at 16.75%. In the week ahead,
- [GHGB Commentary](https://www.gfxbrokers.com/ghgb-commentary-2/) - GHGBs saw a moderate start to the trading week with capped interest for local real money although market remains net offered. Activity recorded was in Mar-23 at 20.40%; Oct 21s at 19.15% and Dec-21 at 19.10%. We expect activity to pick up in the sessions ahead with today's session with the over GHS 1 billion in cocoa
- [GHGB Commentary](https://www.gfxbrokers.com/ghgb-commentary-3/) - The offered tone in GHGBs trading continues to persist despite improved bidding from local real money. Yesterday's session saw Mar-23 and Jan-25 change hands at 20.10% and 20.30% respectively. Scanty volumes of Mar-21 also changed hands at 18.00%. We expect a similar narrative in the coming sessions. On the data front, Apr CPI is due
- [Insights Post 2](https://www.gfxbrokers.com/title-of-longer-blog-post/) - Lorem ipsum dolor sit amet, consetetur sadipscing elitr, sed diam nonumy eirmod tempor invidunt ut labore et dolore magna aliquyam erat, sed diam voluptua. At vero eos et accusam et justo duo dolores et ea rebum. Stet clita kasd gubergren, no sea takimata sanctus est Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet,
- [Insights Post 3](https://www.gfxbrokers.com/title-of-longer-blog-post-2/) - Lorem ipsum dolor sit amet, consetetur sadipscing elitr, sed diam nonumy eirmod tempor invidunt ut labore et dolore magna aliquyam erat, sed diam voluptua. At vero eos et accusam et justo duo dolores et ea rebum. Stet clita kasd gubergren, no sea takimata sanctus est Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet,
- [Insights Post 4](https://www.gfxbrokers.com/title-of-longer-blog-post-3/) - Lorem ipsum dolor sit amet, consetetur sadipscing elitr, sed diam nonumy eirmod tempor invidunt ut labore et dolore magna aliquyam erat, sed diam voluptua. At vero eos et accusam et justo duo dolores et ea rebum. Stet clita kasd gubergren, no sea takimata sanctus est Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet,
- [Insights Post 5](https://www.gfxbrokers.com/title-of-longer-blog-post-4/) - Lorem ipsum dolor sit amet, consetetur sadipscing elitr, sed diam nonumy eirmod tempor invidunt ut labore et dolore magna aliquyam erat, sed diam voluptua. At vero eos et accusam et justo duo dolores et ea rebum. Stet clita kasd gubergren, no sea takimata sanctus est Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet,
- [GHGB Commentary](https://www.gfxbrokers.com/ghgb-commentary-4/) - Price action in GHGBs on the secondary bond market was focused largely in the front end of the curve. Sept-20; Jan-21 and Oct-21 changed hands at 17.30%; 18.00% and 19.10% respectively. Mar-23 also traded at 20.35%. Going into today's session, GHGB in highlight include Sept, Oct and Nov-21 papers.
- [GHGB Commentary](https://www.gfxbrokers.com/ghgb-commentary-5/) - A flat session in GHGB trading yesterday. Price action was seen mainly in ESLA 27 at 20.10%; Oct and Dec 20 papers at 16.80% and 17.20% respectively. Market continues to be net offered especially in the belly of the curve. On the weekly auction front, government will seek to raise GHS758 mn in 91,182 and 364-day bills.

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- [debt restructuring](https://www.gfxbrokers.com/tag/debt-restructuring/)
- [Ghana-IMF](https://www.gfxbrokers.com/tag/ghana-imf/)
- [Ken Ofori-Atta](https://www.gfxbrokers.com/tag/ken-ofori-atta/)
- [Akufo-Addo](https://www.gfxbrokers.com/tag/akufo-addo/)
- [commentary](https://www.gfxbrokers.com/tag/commentary/)
- [stock market](https://www.gfxbrokers.com/tag/stock-market/)
- [African markets](https://www.gfxbrokers.com/tag/african-markets/)
- [Nigeria](https://www.gfxbrokers.com/tag/nigeria/)
- [USD](https://www.gfxbrokers.com/tag/usd/)
- [UBA](https://www.gfxbrokers.com/tag/uba/)
- [United bank for Africa](https://www.gfxbrokers.com/tag/united-bank-for-africa/)
- [investment analysis](https://www.gfxbrokers.com/tag/investment-analysis/)
- [ssabonds](https://www.gfxbrokers.com/tag/ssabonds/)
- [Eurobonds](https://www.gfxbrokers.com/tag/eurobonds/)
- [bond markets](https://www.gfxbrokers.com/tag/bond-markets/)
- [money](https://www.gfxbrokers.com/tag/money/)
- [Senegal Eurobond](https://www.gfxbrokers.com/tag/senegal-eurobond/)
- [investors](https://www.gfxbrokers.com/tag/investors/)
- [IMF](https://www.gfxbrokers.com/tag/imf/)
- [Kenya](https://www.gfxbrokers.com/tag/kenya/)
- [Rwanda](https://www.gfxbrokers.com/tag/rwanda/)
- [Ghana's IMF](https://www.gfxbrokers.com/tag/ghanas-imf/)
- [oil prices](https://www.gfxbrokers.com/tag/oil-prices/)
- [Angola](https://www.gfxbrokers.com/tag/angola/)
- [President Buhari](https://www.gfxbrokers.com/tag/president-buhari/)
- [Oil](https://www.gfxbrokers.com/tag/oil/)
- [US dollar](https://www.gfxbrokers.com/tag/us-dollar/)
- [debt restru](https://www.gfxbrokers.com/tag/debt-restru/)
- [Ghana cedi](https://www.gfxbrokers.com/tag/ghana-cedi/)
- [Nigeria debt](https://www.gfxbrokers.com/tag/nigeria-debt/)
- [CBN](https://www.gfxbrokers.com/tag/cbn/)
- [emerging markets](https://www.gfxbrokers.com/tag/emerging-markets/)
- [tullow oil](https://www.gfxbrokers.com/tag/tullow-oil/)
- [Financial Markets](https://www.gfxbrokers.com/tag/financial-markets/)
- [Commodities Markets](https://www.gfxbrokers.com/tag/commodities-markets/)
- [Zambia](https://www.gfxbrokers.com/tag/zambia/)
- [Kosmos Energy](https://www.gfxbrokers.com/tag/kosmos-energy/)
- [OPEC](https://www.gfxbrokers.com/tag/opec/)
- [DDEP](https://www.gfxbrokers.com/tag/ddep/)
- [Ghana bonds](https://www.gfxbrokers.com/tag/ghana-bonds/)
- [Domestic Debt Exchange Programme](https://www.gfxbrokers.com/tag/domestic-debt-exchange-programme/)
- [trading](https://www.gfxbrokers.com/tag/trading/)
- [bank](https://www.gfxbrokers.com/tag/bank/)
- [egypt](https://www.gfxbrokers.com/tag/egypt/)
- [administration](https://www.gfxbrokers.com/tag/administration/)
- [interest rates](https://www.gfxbrokers.com/tag/interest-rates/)
- [banks](https://www.gfxbrokers.com/tag/banks/)
- [dollar](https://www.gfxbrokers.com/tag/dollar/)
- [euro](https://www.gfxbrokers.com/tag/euro/)
- [European Union](https://www.gfxbrokers.com/tag/european-union/)
- [Kenya Eurobonds](https://www.gfxbrokers.com/tag/kenya-eurobonds/)
- [SSA eurobond](https://www.gfxbrokers.com/tag/ssa-eurobond/)
- [Ghana's debt restructuring](https://www.gfxbrokers.com/tag/ghanas-debt-restructuring/)
- [Debt Exchange Programme](https://www.gfxbrokers.com/tag/debt-exchange-programme/)
- [US Fed](https://www.gfxbrokers.com/tag/us-fed/)
- [inflation](https://www.gfxbrokers.com/tag/inflation/)
- [US inflation](https://www.gfxbrokers.com/tag/us-inflation/)
- [SSA](https://www.gfxbrokers.com/tag/ssa/)
- [Eurobond](https://www.gfxbrokers.com/tag/eurobond/)
- [Francis Kyei](https://www.gfxbrokers.com/tag/francis-kyei/)
- [Kenya's economy](https://www.gfxbrokers.com/tag/kenyas-economy/)
- [Eurobond market](https://www.gfxbrokers.com/tag/eurobond-market/)
- [external debt restructuring](https://www.gfxbrokers.com/tag/external-debt-restructuring/)
- [Kenya's debt](https://www.gfxbrokers.com/tag/kenyas-debt/)
- [Kenya's reserves](https://www.gfxbrokers.com/tag/kenyas-reserves/)
- [corporate bonds](https://www.gfxbrokers.com/tag/corporate-bonds/)
- [oil and gas](https://www.gfxbrokers.com/tag/oil-and-gas/)
- [US-China](https://www.gfxbrokers.com/tag/us-china/)
- [US](https://www.gfxbrokers.com/tag/us/)
- [China](https://www.gfxbrokers.com/tag/china/)
- [NGX](https://www.gfxbrokers.com/tag/ngx/)
- [Brent Crude](https://www.gfxbrokers.com/tag/brent-crude/)
- [WTI](https://www.gfxbrokers.com/tag/wti/)
- [Tuesday](https://www.gfxbrokers.com/tag/tuesday/)
- [Seplat Energy](https://www.gfxbrokers.com/tag/seplat-energy/)
- [petroleum industry](https://www.gfxbrokers.com/tag/petroleum-industry/)
- [hydrocarbons](https://www.gfxbrokers.com/tag/hydrocarbons/)
- [Nigeria bonds](https://www.gfxbrokers.com/tag/nigeria-bonds/)
- [Kenya bonds](https://www.gfxbrokers.com/tag/kenya-bonds/)
- [SSA Eurobonds](https://www.gfxbrokers.com/tag/ssa-eurobonds/)
- [Absa](https://www.gfxbrokers.com/tag/absa/)
- [FNB](https://www.gfxbrokers.com/tag/fnb/)
- [market insights](https://www.gfxbrokers.com/tag/market-insights/)
- [investing](https://www.gfxbrokers.com/tag/investing/)
- [banking crises](https://www.gfxbrokers.com/tag/banking-crises/)
- [Iraqi Kurdistan](https://www.gfxbrokers.com/tag/iraqi-kurdistan/)
- [banking crisis](https://www.gfxbrokers.com/tag/banking-crisis/)
- [T-bills](https://www.gfxbrokers.com/tag/t-bills/)
- [CBK](https://www.gfxbrokers.com/tag/cbk/)
- [China Exim](https://www.gfxbrokers.com/tag/china-exim/)
- [OPEC+](https://www.gfxbrokers.com/tag/opec-2/)
- [Nigeria's reserves](https://www.gfxbrokers.com/tag/nigerias-reserves/)
- [Foreign Reserves](https://www.gfxbrokers.com/tag/foreign-reserves/)
- [treasury](https://www.gfxbrokers.com/tag/treasury/)
- [bond prices](https://www.gfxbrokers.com/tag/bond-prices/)
- [capital market](https://www.gfxbrokers.com/tag/capital-market/)
- [SSA bonds](https://www.gfxbrokers.com/tag/ssa-bonds/)
- [market commentary](https://www.gfxbrokers.com/tag/market-commentary/)
- [growth](https://www.gfxbrokers.com/tag/growth/)
- [Ghana's inflation](https://www.gfxbrokers.com/tag/ghanas-inflation/)
- [Nigeria's budget deficit](https://www.gfxbrokers.com/tag/nigerias-budget-deficit/)
- [IEA](https://www.gfxbrokers.com/tag/iea/)
- [World Bank](https://www.gfxbrokers.com/tag/world-bank/)
- [$3 billion bailout](https://www.gfxbrokers.com/tag/3-billion-bailout/)
- [coupon payment](https://www.gfxbrokers.com/tag/coupon-payment/)
- [SSA market](https://www.gfxbrokers.com/tag/ssa-market/)
- [egpt](https://www.gfxbrokers.com/tag/egpt/)
- [PPI](https://www.gfxbrokers.com/tag/ppi/)
- [Ghana 2030 Eurobond](https://www.gfxbrokers.com/tag/ghana-2030-eurobond/)
- [default](https://www.gfxbrokers.com/tag/default/)
- [Nairobi Securities Exchange](https://www.gfxbrokers.com/tag/nairobi-securities-exchange/)
- [Fitch](https://www.gfxbrokers.com/tag/fitch/)
- [GDP](https://www.gfxbrokers.com/tag/gdp/)
- [Kenya's treasury](https://www.gfxbrokers.com/tag/kenyas-treasury/)
- [Ghana's IMF deal](https://www.gfxbrokers.com/tag/ghanas-imf-deal/)
- [Kenyan Shilling](https://www.gfxbrokers.com/tag/kenyan-shilling/)
- [dangote oil](https://www.gfxbrokers.com/tag/dangote-oil/)
- [bondholders](https://www.gfxbrokers.com/tag/bondholders/)
- [foreign investors](https://www.gfxbrokers.com/tag/foreign-investors/)
- [foreign assets](https://www.gfxbrokers.com/tag/foreign-assets/)
- [oil producer](https://www.gfxbrokers.com/tag/oil-producer/)
- [gold reserves](https://www.gfxbrokers.com/tag/gold-reserves/)
- [Kenyan banks](https://www.gfxbrokers.com/tag/kenyan-banks/)
- [liquidity](https://www.gfxbrokers.com/tag/liquidity/)
- [Nigeria's inflation](https://www.gfxbrokers.com/tag/nigerias-inflation/)
- [USD bonds](https://www.gfxbrokers.com/tag/usd-bonds/)
- [fuel subsidy](https://www.gfxbrokers.com/tag/fuel-subsidy/)
- [subsidy removal](https://www.gfxbrokers.com/tag/subsidy-removal/)
- [oil export](https://www.gfxbrokers.com/tag/oil-export/)
- [Zambia's policy rate](https://www.gfxbrokers.com/tag/zambias-policy-rate/)
- [Kenya's sugar](https://www.gfxbrokers.com/tag/kenyas-sugar/)
- [Egyptian pound](https://www.gfxbrokers.com/tag/egyptian-pound/)
- [naira](https://www.gfxbrokers.com/tag/naira/)
- [AfCFTA](https://www.gfxbrokers.com/tag/afcfta/)
- [dangote refinery](https://www.gfxbrokers.com/tag/dangote-refinery/)
- [Ashmore](https://www.gfxbrokers.com/tag/ashmore/)
- [GMO asset management](https://www.gfxbrokers.com/tag/gmo-asset-management/)
- [forex](https://www.gfxbrokers.com/tag/forex/)
- [Parliaiment](https://www.gfxbrokers.com/tag/parliaiment/)
- [Kenya's 2023/2024 budget](https://www.gfxbrokers.com/tag/kenyas-2023-2024-budget/)
- [Ethiopia](https://www.gfxbrokers.com/tag/ethiopia/)
- [Tinubu](https://www.gfxbrokers.com/tag/tinubu/)
- [NEC](https://www.gfxbrokers.com/tag/nec/)
- [ghana's imf programme](https://www.gfxbrokers.com/tag/ghanas-imf-programme/)
- [nigeria's shipping cost](https://www.gfxbrokers.com/tag/nigerias-shipping-cost/)
- [Kenya's 2024 Eurobond](https://www.gfxbrokers.com/tag/kenyas-2024-eurobond/)
- [macron](https://www.gfxbrokers.com/tag/macron/)
- [Bond](https://www.gfxbrokers.com/tag/bond/)
- [Central Bank](https://www.gfxbrokers.com/tag/central-bank/)
- [MPC](https://www.gfxbrokers.com/tag/mpc/)
- [interest rate](https://www.gfxbrokers.com/tag/interest-rate/)
- [coupon rates](https://www.gfxbrokers.com/tag/coupon-rates/)
- [sovereign debt](https://www.gfxbrokers.com/tag/sovereign-debt/)
- [food prices](https://www.gfxbrokers.com/tag/food-prices/)
- [crypto currency](https://www.gfxbrokers.com/tag/crypto-currency/)
- [blockchain](https://www.gfxbrokers.com/tag/blockchain/)
- [tea](https://www.gfxbrokers.com/tag/tea/)
- [export trade](https://www.gfxbrokers.com/tag/export-trade/)
- [bonds](https://www.gfxbrokers.com/tag/bonds/)
- [Equities](https://www.gfxbrokers.com/tag/equities/)
- [Markets](https://www.gfxbrokers.com/tag/markets/)
- [Stocks](https://www.gfxbrokers.com/tag/stocks/)
- [KRA](https://www.gfxbrokers.com/tag/kra/)
- [shillings](https://www.gfxbrokers.com/tag/shillings/)
- [Brent](https://www.gfxbrokers.com/tag/brent/)
- [Libya](https://www.gfxbrokers.com/tag/libya/)
- [Parris Club](https://www.gfxbrokers.com/tag/parris-club/)
- [Jubilee South East](https://www.gfxbrokers.com/tag/jubilee-south-east/)
- [Finance Act 2023](https://www.gfxbrokers.com/tag/finance-act-2023/)
- [oil revenue](https://www.gfxbrokers.com/tag/oil-revenue/)
- [nigerio](https://www.gfxbrokers.com/tag/nigerio/)
- [oil export revenue](https://www.gfxbrokers.com/tag/oil-export-revenue/)
- [Ken Ofori Atta](https://www.gfxbrokers.com/tag/ken-ofori-atta-2/)
- [Power production](https://www.gfxbrokers.com/tag/power-production/)
- [electricity](https://www.gfxbrokers.com/tag/electricity/)
- [President Ruto](https://www.gfxbrokers.com/tag/president-ruto/)
- [Agyapa deal](https://www.gfxbrokers.com/tag/agyapa-deal/)
- [ETI](https://www.gfxbrokers.com/tag/eti/)
- [Ecobank](https://www.gfxbrokers.com/tag/ecobank/)
- [fuel](https://www.gfxbrokers.com/tag/fuel/)
- [fuel subsidies](https://www.gfxbrokers.com/tag/fuel-subsidies/)
- [Njuguna Ndung'u](https://www.gfxbrokers.com/tag/njuguna-ndungu/)
- [finance](https://www.gfxbrokers.com/tag/finance/)
- [invest](https://www.gfxbrokers.com/tag/invest/)
- [T-bill](https://www.gfxbrokers.com/tag/t-bill/)
- [IFC](https://www.gfxbrokers.com/tag/ifc/)
- [Pension Funds](https://www.gfxbrokers.com/tag/pension-funds/)
- [dollar bonds](https://www.gfxbrokers.com/tag/dollar-bonds/)
- [Q2 GDP](https://www.gfxbrokers.com/tag/q2-gdp/)
- [fiscal stability](https://www.gfxbrokers.com/tag/fiscal-stability/)
- [Kwanzas](https://www.gfxbrokers.com/tag/kwanzas/)
- [WorldCoin](https://www.gfxbrokers.com/tag/worldcoin/)
- [Cryptocurrency](https://www.gfxbrokers.com/tag/cryptocurrency/)
- [Manufacturing](https://www.gfxbrokers.com/tag/manufacturing/)
- [traders](https://www.gfxbrokers.com/tag/traders/)
- [capital markets](https://www.gfxbrokers.com/tag/capital-markets/)
- [mining](https://www.gfxbrokers.com/tag/mining/)
- [mining industry](https://www.gfxbrokers.com/tag/mining-industry/)
- [Growth and Sustainability Levy](https://www.gfxbrokers.com/tag/growth-and-sustainability-levy/)
- [mining companies](https://www.gfxbrokers.com/tag/mining-companies/)
- [Mining in Ghana](https://www.gfxbrokers.com/tag/mining-in-ghana/)
- [Ghana's mining industry](https://www.gfxbrokers.com/tag/ghanas-mining-industry/)
- [Ghana Chamber of Mines](https://www.gfxbrokers.com/tag/ghana-chamber-of-mines/)
- [gold production](https://www.gfxbrokers.com/tag/gold-production/)
- [economic growth](https://www.gfxbrokers.com/tag/economic-growth/)
- [Ghana gold production](https://www.gfxbrokers.com/tag/ghana-gold-production/)
- [Ghana stock exchage](https://www.gfxbrokers.com/tag/ghana-stock-exchage/)
- [trade surplus](https://www.gfxbrokers.com/tag/trade-surplus/)
- [BNA](https://www.gfxbrokers.com/tag/bna/)
- [Kenya's Mining Industry](https://www.gfxbrokers.com/tag/kenyas-mining-industry/)
- [Mining Bill](https://www.gfxbrokers.com/tag/mining-bill/)
- [Kenya's National Assembly](https://www.gfxbrokers.com/tag/kenyas-national-assembly/)
- [PAPSS](https://www.gfxbrokers.com/tag/papss/)
- [nuclear](https://www.gfxbrokers.com/tag/nuclear/)
- [energy](https://www.gfxbrokers.com/tag/energy/)
- [nuclear energy](https://www.gfxbrokers.com/tag/nuclear-energy/)
- [Morocco](https://www.gfxbrokers.com/tag/morocco/)
- [gas pipeline](https://www.gfxbrokers.com/tag/gas-pipeline/)
- [West Africa](https://www.gfxbrokers.com/tag/west-africa/)
- [2024](https://www.gfxbrokers.com/tag/2024/)
- [Kenya 2024 Eurobond](https://www.gfxbrokers.com/tag/kenya-2024-eurobond/)
- [buy back](https://www.gfxbrokers.com/tag/buy-back/)
- [tunisia](https://www.gfxbrokers.com/tag/tunisia/)
- [investor](https://www.gfxbrokers.com/tag/investor/)
- [bondmarket](https://www.gfxbrokers.com/tag/bondmarket/)
- [economy](https://www.gfxbrokers.com/tag/economy/)
- [bond market](https://www.gfxbrokers.com/tag/bond-market/)
- [Sub-Saharan Africa](https://www.gfxbrokers.com/tag/sub-saharan-africa/)
- [debt securities](https://www.gfxbrokers.com/tag/debt-securities/)
- [bank of ghana](https://www.gfxbrokers.com/tag/bank-of-ghana/)
- [Dr. Ernest Addison](https://www.gfxbrokers.com/tag/dr-ernest-addison/)