System Liquidity

System liquidity improved to ₦2.2 trillion on higher SDF placements, though funding rates edged up to an average of 22.68%.

Treasury Bills

The NTB market traded quietly with a bearish bias as thinning demand—especially at the mid-to-long end—pushed the average benchmark rate up by 1bp to 15.59%.

FGN Bonds

The FGN bond market traded mixed with light activity, as selective buying at the short and long ends offset mild weakness on the 2035 bond, leaving average yields unchanged at 15.49%.

Eurobonds

African Eurobonds opened the week on a mildly negative note with yields rising across major issuers, leaving Nigeria’s average benchmark yield 6bps higher at 7.49%.

Nigerian Equities

The Nigerian equities market opened December on a soft footing as the ASI slipped 22bps amid broad sell pressure across major sectors, weak market breadth, and subdued overall sentiment, with activity largely dominated by sizeable block trades in banking names and a significant off-market cross in CORNERST.

Foreign Exchange

The naira weakened by 12bps to ₦1,448.44/$ amid lower price bids, even as external reserves increased to $44.6 billion.

Commodities

Oil rose over 1% on geopolitical tensions and steady OPEC output, while gold hit a six-week high on rate-cut expectations and a weaker dollar.

Leave a Reply