System Liquidity: Banking system liquidity contracted sharply by 23.97% to close at ₦7,578.43 billion (YTD +98.56%), while interbank borrowing costs held resilient with the Overnight Rate flat at 20.20%.
Treasury Bills Market: The secondary market traded on a slightly bullish note as yields across all key tenors eased by 1 bps, bringing the 91-day, 180-day, and 365-day rates down to 17.49%, 17.09%, and 18.70%, respectively.
FGN Bonds Market: Secondary trading closed mixed as the 5-year paper yield advanced 3 bps to 16.70% while the 10-year benchmark yield dropped 10 bps to 16.80%, with all other benchmark tenors holding flat.
Equities Market: The NGX-ASI gained 0.19% to reach 254,762.81 points (+63.72% YTD), predominantly driven by a +0.72% surge in the Banking index despite slight dips in Insurance, Consumer Goods, and Oil & Gas.
Foreign Exchange Market: Mild depreciation pressure hit the FX market as NAFEM USD/NGN rose 0.06% to ₦1,347.80/$ and parallel market USD/NGN gained 0.36% to ₦1,390.00/$.
Eurobonds Market: The yield curve shifted downward across all tenors due to strong buying interest, led by a 57 bps drop in the 10-year yield to 7.23% and 17 bps drops in short-to-mid tenors.
Commodities Market: Global commodities showed divergent price action as Gold surged 2.60% to $4,042.92/oz while Brent Crude dropped sharply by 4.44% to close below $100 at $98.87/bbl
