System Liquidity: System liquidity moderated 3.88% to c. ₦6.06trn but is still high. The Overnight rate eased to 20.38%, and the average funding cost fell 2bps to 20.19%.
Treasury Bills: The NTB market was flat, with yields unchanged across the curve. The CBN’s ₦269bn auction from the previous day settled, taking cash out of the system.
FGN Bonds: The market was flat, with yields unchanged across the curve. The 5-year stayed at 17.00% and the 20-year at 14.77%.
Foreign Exchange: The Naira gained 0.07% at NAFEM to ₦1,331.61/$. The gap with the parallel market narrowed to 2.88%.
Nigerian Equities: The NGX All-Share Index rose 0.01% to 247,707.13 points, its second straight gain. Year to date, it is up 59.18%. Decliners beat gainers 33 to 28, and value traded fell to ₦15.25bn.
Eurobonds: The market was bullish, with yields down across the curve. The 3-year yield fell 23bps to 6.45% and the 10-year fell 4bps to 7.93%.
Commodities: Brent fell 0.40% to US$105.86/bbl despite Middle East supply worries, and gold rose 1.59% to US$4,171.92/oz.
