System Liquidity
System liquidity remained in surplus at ₦2.58 trillion, though lower than the previous day, as bond auction settlement and SLF usage moderated balances, while heavy DMB placements at the SDF kept liquidity ample; funding rates edged slightly higher with OPR flat at 22.50% and O/N easing to 22.75%
Treasury Bills
The NTB secondary market was subdued as attention shifted to the primary auction, though strong system liquidity supported selective buying in mid- to long-dated bills, lifting the average discount rate by 6bps to 16.04%.
FGN Bonds
The FGN bond market closed mixed to positive, with trading concentrated on short- to mid-tenors where yields generally eased, while the long end was quiet, resulting in a marginal 1bp decline in the average yield to 16.71%.
Eurobonds
African Eurobonds traded bearish amid rising U.S. Treasury yields, cautious positioning ahead of U.S. macro data, and softer oil prices, with Nigerian Eurobond yields increasing across the curve—pushing the average yield up to 7.24%.
Nigerian Equities
Equities closed positive as the All-Share Index gained 0.26% with strong market breadth and heavy block trade activity, led by banking stocks, while sector performance was mixed.
Foreign Exchange
The Naira depreciated slightly in the NFEM despite CBN intervention due to insufficient dollar supply, while external reserves recorded its first marginal decline in two months.
Commodities
Oil prices rallied on heightened geopolitical tensions following U.S. actions against sanctioned Venezuelan tankers, while gold extended strong gains on safe-haven demand.
