System Liquidity
Liquidity stayed healthy, with minimal funding stress keeping interbank rates steady. OPR held at 26.50% and O/N at 26.95%.
Treasury Bills
Bullish sentiment persisted, driven by demand for mid-to-long tenors. Trades focused on 4-Jun and 20-Jan OMO bills. Overall volumes were light, while the benchmark NTB rate averaged 19.24%.
FGN Bonds
Moderate activity prevailed, with selective interest in Apr 2029s, Feb 2031s, and May 2033s. Average mid-yield dipped 3bps to 18.52%.
Eurobonds
Nigerian Eurobonds rallied on Brent gains and softer U.S. CPI data, reinforcing Fed rate cut hopes. May inflation at 0.1% m/m spurred buying; average yields tightened 9bps to 8.99%.
Nigerian Equities
Market rose 56bps to 114,659.11 points (YTD +11.40%). Mixed sector performance: gains in Industrials and Oil & Gas offset by Banking and Consumer losses. Local investors drove trades; value dipped 24.83% to $9.20m.
Foreign Exchange
Naira appreciated slightly to ₦1,539.72/$ amid stronger dollar supply. USD/NGN ranged between ₦1,538.00 and ₦1,546.50. FX reserves stood at $38.04bn.
Commodities
Oil spiked over $4 on Middle East tensions, lifting Brent to $69.77 and WTI to $68.15. Gold inched up 0.1% on weak U.S. inflation data, boosting Fed rate cut expectations.
