System Liquidity
System liquidity improved slightly to ₦2.3 trillion due to higher DMB placements at the SDF window, while OPR and O/N rates held steady at 22.50% and 22.75%.
Treasury Bills
The NTB market traded calmly with ample liquidity as investors evaluated the MPC’s widened system facility corridor, keeping average rates flat at 15.61%.
FGN Bonds
FGN bonds traded quietly with slight bullish sentiment as short-dated yields declined by 1bp while mid- and long-tenor maturities remained flat, edging the average yield down by 1bp to 15.47%.
Eurobonds
African Eurobonds extended their bullish momentum on expectations of a Fed rate cut, firmer oil prices and supportive fiscal moves, pulling Nigeria’s benchmark yields down by 11bps to 7.58%.
Nigerian Equities
The equities market closed negative with the ASI down 49bps due to sell pressure in large-cap stocks, though banking stocks posted moderate gains and market activity surged on several block trades.
Foreign Exchange
The naira appreciated by 23bps to ₦1,442.92/$ on improved dollar supply, while external reserves rose to $44.5 billion.
Commodities
Oil prices steadied after hitting a one-month low, while gold strengthened on rising expectations of a Fed rate cut next month.
