System Liquidity
System liquidity opened in surplus at ₦3.95trn slightly lower day on day with strong SDF placements at ₦3.86trn, while funding costs eased as OVN declined 4bps to 22.25%; OMO auction saw heavy demand with ₦2.22trn subscription vs ₦600bn offered, signalling still-robust liquidity despite expected near-term tightening.
Treasury Bills
The NTB secondary market was quiet and range bound as investors focused on the NTB auction, which saw strong demand but largely unchanged stop rates, benchmark yields held steady at 16.05%.
FGN Bonds
The FGN bond market closed mildly bearish with subdued activity and slight sell pressure; yields edged higher, especially on the mid-curve, amid supply concerns linked to the government’s planned ₦700bn borrowing and ongoing DMO auction.
Eurobonds
Nigeria’s Eurobond market traded bullish as yields compressed across the curve, with strong demand for EM high-yield assets driving declines, particularly in mid-curve maturities; average yield fell 6bps to 6.96% on improved global risk sentiment
Nigerian Equities
The equities market closed positive as ASI gained 61bps (YTD +41.11%), driven mainly by banking stocks; breadth was mildly positive while trading activity remained strong despite lower value turnover.
Foreign Exchange
The Naira appreciated by 17bps to ₦1,348.45/$ on improved FX supply, though external reserves declined to $48.51bn, reflecting ongoing CBN interventions.
Commodities
Oil prices advanced with Brent crude oil rising by 1.17%, and WTI appreciating by 1.08% on supply dynamics, while gold gained over 1% supported by a weaker dollar and safe-haven demand.
