System Liquidity

System liquidity remained in surplus at ₦6.62 trillion but declined due to NTB auction settlements. Despite this, funding rates were unchanged, indicating stable money market conditions. Outlook suggests possible CBN mop-up, though rates may hold steady.

Treasury Bills

The NTB market traded quietly with selective buying interest in mid-tenors. Yields declined slightly, leading to a marginal 10bps drop in the average yield to 16.01%.

FGN Bonds

The FGN bond market was quiet with limited activity. Mixed sentiment persisted as slight buying interest in select maturities was offset by mild selling in others, leaving the average yield unchanged at 15.61%.

Eurobonds

The Eurobond market weakened slightly, with average yields rising by 2bps to 7.24%. Selling pressure was seen across the curve, especially mid- to long-tenors, reflecting cautious investor sentiment and risk reduction.

Nigerian Equities

The Nigerian equities market closed positive, with the ASI gaining 0.28% driven by bargain hunting in blue-chip and mid-cap stocks. However, trading activity declined, indicating cautious participation despite bullish sentiment.

Foreign Exchange

The Naira appreciated by 0.91% to ₦1,359.32/$, supported by improved FX supply. However, external reserves declined slightly, and outlook remains stable with continued policy support.

Commodities

Oil and gold prices increased, supported by geopolitical developments and a weaker dollar. Oil rose on Middle East developments, while gold gained amid uncertainty and inflation data expectations.