System Liquidity
System liquidity remained elevated but volatile, with balances around ₦3.74tn recently after fluctuating significantly above ₦4tn in prior sessions, reflecting intermittent funding pressures. Overnight rates stayed broadly stable near 22.26%, indicating relatively balanced interbank funding conditions despite liquidity swings.
Treasury Bills & FGN Bonds
Average T-bill yields hovered around 16.2%, showing mild stability after earlier fluctuations, suggesting steady demand at auction levels. FGN bond yields were mixed, with current levels around 16.9% (3-year), 17.3% (5-year), 17.6% (7-year), and 16.8% (10-year), reflecting slight repricing across the curve.
Eurobonds
Eurobond yields edged higher across markets as investors engaged in profit-taking, with Nigerian Eurobond yields around 5.78%–7.15% and Angolan bonds ranging higher at 7.36%–8.81%. South African Eurobonds remained relatively lower at about 4.83%–6.61%, reflecting varying sovereign risk perceptions across issuers.
Nigerian Equities
The equities market experienced cautious trading sentiment driven by profit-taking and macro developments, particularly around banking regulations and geopolitical updates. Market activity remained subdued with consolidation tendencies as investors reassessed positions.
Foreign Exchange
The FX market remained relatively stable, with parallel market rates around ₦1,396/$ and official NAFEM rates near ₦1,357/$. The narrow spread and limited volatility reflect ongoing policy interventions and steady market participation.
Commodities
Brent crude oil prices declined sharply to about $78.98 from above $90 previously, reflecting easing geopolitical tensions and expectations of increased supply. Gold prices remained relatively firm around $4,364, indicating sustained safe-haven demand despite shifting global risk sentiment.
