System Liquidity Liquidity fell 65.53% to ₦2.03trn from ₦5.89trn as the CBN drained cash via OMO, with the OPR steady at 22.00% and the overnight rate up to 22.30%; direction this week hinges on the size of the next OMO offer against maturities.
Treasury Bills Secondary market rates were mixed, 91-day easing to 18.11%, 180-day flat at 18.86% and 365-day edging up to 19.78%, with the 1-year bill likely to hold near current levels rather than fall further.
FGN Bonds Yields were broadly steady with selling at the long end, the 20-year up 35bps to 15.10% and the 5-year at 16.75%, while the 3-year and 7-year held flat at 16.65% and 16.83% and the 10-year eased to 16.73%.
Foreign Exchange The naira softened modestly, weakening 0.11% to ₦1,331.28/$ at NAFEM and 0.36% to ₦1,390.00/$ in the parallel market, widening the gap to about ₦59.
Nigerian Equities The All-Share Index gained 0.62% to 246,315.38 points, led by Industrial Goods (+2.89%), Insurance (+1.88%) and Banking (+1.18%), with Consumer Goods (-0.74%) the weakest; BETAGLAS, BUACEMENT and CONHALLPLC all closed limit-up at 10.00%, while TRANSPOWER fell 9.97%.
Eurobonds Yields were mixed but firmer at the long end after the Fed raised rates 25bps to 3.75%–4.00%, averaging 7.09%, with the 3-year up at 6.09% and the 20-year down at 8.13%.
Commodities Gold gained 0.32% to $4,403.09/oz, while Brent crude fell 1.74% to $103.99/bbl.
