System Liquidity
Liquidity remained strong, supported by the recent OMO maturity, although the upcoming NTB auction settlement is expected to moderate liquidity despite partial support from an NTB maturity.
FGN Bonds
FGN bond yields were broadly steady as investors stayed cautious ahead of the NTB auction, with demand expected to improve in the next session.
Eurobonds
Nigerian Eurobond yields edged higher as renewed Middle East tensions triggered a risk-off sentiment, with further movements expected to depend on geopolitical developments.
Nigerian Equities
The NGX extended its gains as bargain hunting and renewed buying interest in medium- and large-cap stocks lifted the market, with a cautiously bullish outlook expected to persist.
Global Equities
Global equities declined as rising oil prices heightened inflation concerns and reinforced expectations of tighter U.S. monetary policy, while geopolitical developments remain the key near-term market drivert.
Foreign Exchange
The naira traded relatively stable as balanced FX liquidity and the CBN’s continued market oversight helped maintain orderly market conditions.
Commodities
Oil prices rallied on renewed Middle East tensions and tighter sanctions on Iranian oil, while gold fell as higher inflation expectations increased the appeal of interest-bearing assets over the non-yielding metal.
