System Liquidity
Robust liquidity was driven by ₦363bn inflows from OMO, NTB maturities, and derivation funds. These offset CRR debits, stabilizing interbank rates. OPR held at 26.50%, while O/N rate inched up to 26.99%.
Treasury Bills
Trading was subdued but steady, with light activity focused on mid-to-long dated OMO and NTB maturities. Despite thin volumes and wide bid/ask spreads, benchmark NTB yields dipped slightly by 1bp to 19.27%.
FGN Bonds
Selective interest in mid-to-long bonds like Apr 2029s and Feb 2031s drove modest activity. Limited offers and wide spreads constrained trades. Benchmark yields declined 3bps to 18.53% as investors cautiously cherry-picked.
Eurobonds
Early optimism on U.S.-China talks and oil prices boosted African Eurobonds, but Israel-Iran tensions triggered late-week selloffs. Nigerian yields fell 2bps to 9.15%.
Nigerian Equities
The ASI rose 71bps w/w to 115,429.54 in a bullish, 3-day week. Gains in DANGCEM, BUAFOODS, and MTNN offset losses in NESTLE and ACCESSCORP. Strong local and offshore interest supported momentum.
Foreign Exchange
The naira appreciated to ₦1549.35/$ on strong portfolio inflows and CBN intervention. Despite midweek pressure and geopolitical risks, sentiment held. Reserves dipped $257m to $38.02bn. Private placement talks with CBN lifted early optimism.
Commodities
Oil jumped 7% as Israel-Iran conflict raised supply fears, pushing Brent to $74.23 and WTI to $72.98. Gold surged 1.3% to $3,428.10, nearing record highs as investors sought safe havens.
