The secondary bond market rebounded last week, recording an increase in total volume traded.

Total market turnover expanded by 18.78% to ¢90.40 million.

The upturn in overall market activity followed increased transactions across the new bonds.

The 7-year new bond (maturity: Feb-2030) registered two major trades. It contributed 89% of the week’s aggregate turnover.

Bond prices at the shorter end of the LCY curve declined an average of 2% week-on-week, while the belly and tail parts declined 14% and 13%, respectively.

Analysts believe the large target size for treasury bills auction will likely continue to present a downside to bond market activity this week.