System Liquidity
System liquidity moderate to a surplus of ₦1.4tn after NTB settlement outflows despite large maturities, while reduced SDF placements helped funding conditions ease slightly with average rates around 24.67% (-5bps).
Treasury Bills
The NTB market traded quietly to mildly positive as investors reacted to the ₦1.09tn auction allotment, with mixed interest across maturities and declines on key mid-long bills, pulling the average NTB rate down to about 15.67% (-4bps).
FGN Bonds
The FGN bond market traded cautiously following the NTB auction results, with mild yield compression on short and mid tenors and slight upward moves on select 2033 papers, leaving the average benchmark yield marginally higher at about 15.47% (+1bp).
Eurobonds
The African Eurobond market traded bullish as rising U.S. unemployment strengthened expectations for a December Fed cut, driving broad buying across sovereign curves and pushing Nigeria’s average Eurobond yield down to 7.63% (-6bps).
Nigerian Equities
The equities market closed bearish as the ASI fell 32bps on broad sectoral weakness—especially in banks—amid low activity levels and negative market breadth.
Foreign Exchange
The Naira appreciated to ₦1,452.13/$ as intervention-driven supply outweighed demand, supported by a rise in external reserves to $44.1bn.
Commodities
Oil prices were mixed with Brent closing at $63.32/bbl and WTI at $58.95/bbl, while gold weakened to $4,055.91/oz as stronger-than-expected U.S. jobs data dampened rate-cut optimism.
