System Liquidity
Despite a ₦500bn OMO settlement, liquidity stayed strong. Interbank rates remained elevated, with OPR flat at 26.50% and O/N rate edging up to 26.95%, reflecting resilient system liquidity.
Treasury Bills
Bullish short-mid tenor demand persisted, while long-tenor selling increased post-OMO auction. CBN sold ₦804.85bn, oversubscribed by ₦556.85bn. Stop rates hit 22.69%-22.73%. NTB mid-rate rose 16bps to 19.55%.
FGN Bonds
Steady interest in mid-tenors post-auction, with ₦397.89bn allotted. Notably, Apr 2029 sold at 19.00% and May 2033 at 19.99%. Benchmark mid-yield fell 4bps to 18.70%, reflecting improved demand.
Eurobonds
Sub-Saharan Eurobonds declined on oil weakness and trade worries. Nigerian bonds saw 12bps yield rise to 10.12%, despite late bargain hunting tempering losses across Nigeria, Angola, and Egypt.
Nigerian Equities
ASI dipped 17bps; YTD return at 2.92%. Block trades in MTNN, Fidelity, and GTCO drove 191% value increase. Banks and consumer stocks rose, but MTNN cross pressured sentiment.
Foreign Exchange
USD/NGN traded between ₦1,596.70–₦1,602.02. The Naira strengthened slightly by 1bp, closing at ₦1,599.7055 as stable liquidity conditions helped maintain a balanced interbank FX market.
Commodities
Oil fell ~3% on OPEC+ supply worries and trade-related demand risks. Brent closed at $64.16, WTI at $60.50. Gold dropped nearly 1% as trade tension eased, trimming safe-haven demand.
