System Liquidity: Liquidity rose 37.01% to ₦8.84trn from ₦6.45trn. The overnight rate rose 28bps to 20.86%, NOFR held at the 20.00% floor, and the average T-bill rate was flat at 17.84%.

Treasury Bills: The CBN sold ₦4.69trn of OMO bills against ₦2.5trn offered, at stop rates of 16.23% to 17.24%. The 365-day eased 13bps to 18.25%, the 91-day and 180-day each eased 1bp to 17.64% and 17.78%, and the average ended at 17.89%.

FGN Bonds: Buyers returned to mid-dated bonds after Monday’s sell-off. The 7-year fell 17bps to 16.07% and the 5-year 5bps to 16.03%, taking the average down 4bps to 15.76%.

Foreign Exchange: The naira firmed 0.06% to ₦1,330.47/$ at NAFEM and 0.36% to ₦1,375.00/$ in the parallel market, narrowing the gap to about ₦45. Reserves are at $54.91bn, the 28 September figure because today’s hasn’t been entered.

Nigerian Equities: Profit-taking after Monday’s record close pulled the market lower, led by GTCO (-3.28%) after weak earnings. The All-Share Index fell 0.29% to 251,913.20 points, and market cap lost ₦469bn to ₦163.53trn. NPFMCRFBK and LIVINGTRUST (+10.00%) led the gainers and SOVRENINS (-9.92%) led the decliners.

Eurobonds: Yields were flat across the curve even as the odds of an October Fed hike held above 70%. The average stayed at 7.47%, and the 10-year held at 7.82%.

Commodities: Gold rose 0.38% to $4,190.30/oz, recovering part of Monday’s fall to a seven-week low. Brent fell 8.77% to $96.93/bbl after Saudi Arabia restored flows on its East-West pipeline and the US said it was open to sanctions relief for Iran.