System Liquidity

System liquidity improved to ₦3.3 trillion due to higher DMB placements in the SDF window, while OPR and O/N rates held flat at 22.50% and 22.72%.

Treasury Bills

The NTB market traded bearish despite ample liquidity, with mid-to-long tenors recording sharp rate increases and average NTB yields rising to 15.74%.

FGN Bonds

The FGN bond market opened bearish with broad yield increases across short-, mid-, and long-tenor papers, raising the average benchmark yield to 15.81%.

Eurobonds

African Eurobonds traded bearish as investors took profit ahead of the Fed decision and falling oil prices pushed Nigeria’s benchmark yield up 10bps to 7.24%.

Nigerian Equities

The equities market advanced as the ASI gained 26bps on broad buying interest, lifting YTD returns to 43.24%.

Foreign Exchange

The Naira weakened marginally to ₦1,451.86/$ amid persistent demand pressure despite CBN intervention, while external reserves stood at $45.11 billion.

Commodities

Oil prices fell about 2% after Iraq restored output while gold prices dipped slightly as investors awaited the U.S. Fed policy meeting.

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