System Liquidity: Liquidity Swings Amid Holiday Crunch
Liquidity was volatile during the shortened holiday week, boosted midweek by OMO maturities but easing toward week-end as SDF placements declined. Funding conditions remained relatively favourable, with overnight and repo rates largely stable.
Treasury Bill: NTB Market Trades Mostly Flat with Selective Yield Compression
The NTB market traded mostly flat with cautious investor participation. Selective demand at the long end led to mild yield compression, pulling the average benchmark yield down slightly week-on-week.
FGN Bonds: Buying-Interest Strengthens Across Curve, as Yield Compresses by 15bps w/w
The bond market remained bullish as buying interest strengthened across short-, mid-, and select long-tenor bonds. This demand outweighed profit-taking and drove a 15bps week-on-week decline in average yields.
Eurobonds: Dovish FOMC Minutes Support Eurobond Rally, Average Yields Fall by 1bps w/w
Nigerian Eurobonds benefited from dovish FOMC signals and improved global risk sentiment. Selective demand, particularly in mid- to long-tenor papers, resulted in mild yield compression across the curve.
Nigerian Equities: Bullish Momentum Caps Record Year, Strong Start to 2026
The equities market closed strongly, extending its bullish momentum into the new year. Broad-based gains across all sectors—led by Oil & Gas, Insurance, and Banking—pushed market capitalization closer to the ₦100 trillion mark.
Foreign Exchange: Naira Bounces back by 0.87% w/w on CBN Boost
The naira strengthened week-on-week, supported by improved FX inflows and CBN intervention. External reserves also rose, reinforcing stability in the FX market.
Commodities: Commodities Volatile on Geopolitical Jitters
Commodity prices were volatile amid geopolitical tensions and oversupply concerns. Oil prices declined week-on-week, while gold pulled back after recent highs, though medium-term demand remains supported by rate-cut expectations.
