THUR SEPT 03 2026-theGBJournal| Liquidity in the banking system weakened today, settling at ₦4.61 trillion net positive. Despite this deceleration, Overnight rate dipped by 2bps to close at 22.18% from 22.20%.
Meanwhile, NOFR and Open Repo rate remained unchanged at 22.00%.
The FGN bond market witnessed a mildly bullish performance, as buying interest resumed at the belly of the curve. However, the appetite for duration was short-lived as the short and long ends were largely muted. Overall, average yield decreased marginally to close at 16.78% from 16.79%.
Furthermore, the Nigerian Treasury Bills market saw mixed trade, but mild positive sentiment held at the tail end of the curve. The reflects persistent buying interest at the long end. With that, average yield remained at 18.81% as in the previous session.
Elsewhere, negative sentiment retracted in the Nigerian Eurobond market as buying interest resumed across the curve. The average yield decreased mildly to close at 6.96%, down from 6.98%.
Globally, bond markets saw a slight decline in yields. The US 10-year yield fell by 0.2 basis points, driven by dampened expectations of a Federal Reserve rate hike.
This development follows the softened US jobs data, which could deter the Federal Reserve from maintaining its recent restrictive stance.
X-@theGBJournal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
