System Liquidity
System liquidity declined during the session as increased SDF placements more than offset coupon inflows. Despite the tighter liquidity conditions, the Overnight Rate remained unchanged, reflecting balanced money market conditions.
Treasury Bills
The Treasury bills market maintained a bullish tone following the NTB auction, with sustained demand across key maturities driving yields lower. Investors continued to position in short-dated instruments amid attractive auction outcomes.
FGN Bonds
Trading in the FGN bond market was relatively subdued, with activity concentrated in a few benchmark maturities. Selective selling at the mid-to-long end pushed the average yield marginally higher.
Eurobonds
The Nigerian Eurobond market traded mixed as softer-than-expected U.S. inflation data supported risk appetite, while elevated U.S. Treasury yields limited gains. Overall, the average sovereign yield remained broadly stable.
Nigerian Equities
The domestic equities market closed lower as investors extended profit-taking across selected large- and mid-cap stocks. Trading activity weakened, although selected insurance counters continued to dominate market turnover.
Foreign Exchange
The foreign exchange market recorded mixed performance across trading windows as liquidity conditions and demand-supply dynamics continued to influence exchange rate movements.
Commodities
Commodity prices traded mixed as investors balanced global supply developments, demand expectations, and geopolitical risks. Crude oil remained sensitive to supply concerns, while precious metals responded to changing interest rate expectations.
