Trading in Ghana's government bonds on the secondary market fell 44.87% week on week to GHS5.03 billion last week.
That implies turnover of about GHS9.12 billion the week before, a drop of roughly GHS4.09 billion.
Activity moved into shorter-dated paper. Bonds maturing between 2027 and 2030 made up 57.83% of turnover, at a weighted-average yield of 13.03%.
The 2031 to 2034 maturities took 41.69% of trading at a weighted-average yield of 14.52%. Bonds maturing in 2035 or later drew little interest, with a 0.49% share at 15.06%.
The pattern shows a normal upward-sloping yield curve, with investors paid about 2 percentage points more to hold the longest bonds than those due by 2030.
Analysts expect the next inflation release to shape trading in the coming weeks, as investors reassess where interest rates are heading and adjust their portfolios.