System Liquidity
System liquidity improved sharply to ₦5.15trn, supported by ₦594bn OMO maturities and higher SDF placements. Funding costs eased as OPR stayed at 22.50% while O/N declined to 22.75%.
Treasury Bills
NTB secondary market traded calm to slightly positive, with largely flat yields across most tenors. Mild sell pressure lifted the Nov-26 bill, though average benchmark rate still declined 5bps to 16.19%.
FGN Bonds
FGN bond market closed broadly positive as strong short-to-mid tenor demand drove yield compression. Mixed long-end activity persisted, but overall benchmark yield declined 9bps to 16.55%, supported by system liquidity.
Eurobonds
African Eurobonds traded firmer on mild buying interest, with Nigerian sovereign yields compressing modestly across key tenors. Benchmark yield eased 1bp to 7.07%, reflecting selective demand despite subdued global cues.
Nigerian Equities
The NGX closed higher as the ASI gained 42bps, lifting YTD returns to 50.63%, supported by positive market breadth. Consumer goods and industrial stocks outperformed, while banking lagged. Trading value rose 9.2% to ₦26.78bn, driven by block and cross deals.
Foreign Exchange
The naira depreciated by 22bps to ₦1,445.68/$ at the NFEM despite CBN intervention, trading within a narrow band. External reserves rose to $45.45bn, supporting medium-term FX stability.
Commodities
Oil prices were steady amid geopolitical tensions, with Brent at $61.97/bbl, while WTI dipped slightly. Gold rebounded strongly on renewed risk concerns, extending its rally after prior session losses.
