System Liquidity
System liquidity rose to ₦2.71trn (+₦220.2bn) as banks placed ₦1.5trn at the SDF window, while OPR fell to 24.50% (-10bps) and O/N to 24.92% (-18bps) after CBN mopped ₦3.0trn via OMO auction.
Treasury Bills
The NTB market traded quietly to bearish as attention shifted to the PMA, where the CBN sold ₦903.35bn in 174- and 188-day bills at 20.45% and 20.54%, pushing the average NTB rate up to 15.71% (+1bp)
FGN Bonds
The FGN bond market stayed calm with mixed moves across the curve as short-to-mid yields fell to 16.58% (–3bps), 15.60% (–1bp), and 15.54% (–1bp), while some 2029–2031 papers rose up to +6bps, leaving the benchmark average flat at 15.46%.
Eurobonds
African Eurobonds traded bullish as softer US/UK/EU data boosted rate-cut expectations, with Nigerian yields dropping 6bps to 7.69%, including 6.84% (-5bps) for 2029s and 8.72% (-7bps) for 2051s.
Nigerian Equities
The equities market extended its sell-off as the ASI fell 0.23% (YTD +40.53%) with 16 gainers versus 38 losers, led by declines in major banks, while ACCESSCORP traded ₦10.57bn worth of shares.
Foreign Exchange
The naira weakened by 47bps to ₦1,454.18/$ amid strong demand, while external reserves increased by $73.9m to $44.0bn.
Commodities
Oil prices dropped with Brent at $63.51 (-2.13%) and WTI at $59.24 (-2.30%), while gold hovered at $4,072.09/oz (-0.12%) despite firmer futures at $4,077.84/oz (+0.28%).
