System Liquidity
System liquidity improved to ₦4.3 trillion on the back of large OMO maturities, though funding rates inched up, with OPR at 22.50% and O/N at 22.76%.
Treasury Bills
The NTB market traded mixed-to-bearish, with significant sell pressure on short- to mid-tenor bills pushing average discount rates up 37bps to 16.31%.
FGN Bonds
The FGN bond market remained bearish, with sharp yield increases across the curve, lifting the average benchmark yield by 65bps to 16.62%.
Eurobonds
African Eurobonds traded bearishly as profit-taking and weaker oil prices pushed Nigeria’s benchmark yields up by 12bps to 7.36%.
Nigerian Equities
The Nigerian stock market declined by 0.33% due to broad profit-taking, despite Oil & Gas recording slight gains.
Foreign Exchange
The Naira depreciated to ₦1,454.38/$ amid persistent demand pressure despite CBN intervention and FPI inflows.
Commodities
Oil prices fell modestly (Brent to $61.95/bbl) on supply concerns and geopolitical tensions, while gold inched higher ahead of the Fed meeting.
