System Liquidity: System liquidity fell 2.93% to c. ₦6.30trn but is still high. Overnight rates eased to 20.43%.
Treasury Bills: The NTB market was slightly bullish, with yields down 1bp across the curve. At the auction, the CBN allotted ₦269bn of the ₦450bn offered. Demand was strongest for the 364-day bill, with bids of ₦982bn, but the stop rate rose only 5bps to 15.90%.
FGN Bonds: The market was slightly bearish. The 5-year yield rose 25bps to 17.00% and the 20-year rose 8bps to 14.77%, while the other yields were unchanged.
Foreign Exchange: The Naira gained 0.03% at NAFEM to ₦1,332.59/$. The gap with the parallel market narrowed to 3.11%.
Nigerian Equities: The NGX All-Share Index rose 0.06% to 247,673.65 points, ending a two-day losing streak. Year to date, it is up 59.16%. Gainers beat decliners 34 to 25, but the biggest stocks barely moved
Eurobonds: The market was slightly bullish. The 10-year yield fell 6bps to 7.97% and the 7-year fell 3bps to 7.70%.
Commodities: Brent rose 0.61% to US$106.28/bbl on Middle East supply worries, and gold fell 1.99% to US$4,106.45/oz.
