TUE JULY 07 2026-theGBJournal| Nigeria’s fixed-income market opened the week on a positive note as strong investor demand across Federal Government bonds, Treasury bills and Eurobonds drove yields lower, even as the banking system remained in a N1.93 trillion net liquidity deficit.
Improved liquidity conditions, supported by primary market repayments, helped sustain buying interest across the domestic debt market, while Nigeria’s Eurobonds also rallied amid a dovish global bond market reaction following weaker-than-expected U.S. labour data.
Meanwhile, the overnight lending rate edged slightly higher by 7bps from 22.18% to 22.25%, reflecting persistent tight liquidity conditions in the banking system despite the improved market sentiment.
The NOFR and Open Repo rate remained unchanged at 22.00%.
The FGN bond market closed positive as buying interest in some bonds bolstered overall performance. Average yield decreased slightly by 3bps from 17.78% to 17.75%.
Meanwhile, the Nigerian Treasury Bills market continued its positive streak as buying interest was seen across the curve. Average yield fell by 9bps to close at 18.56% from 18.65%.
Notably, the 19-Nov-2026 and 10-Dec-2026 bills saw the most decline in yield, falling by 47bps closing at 17.80% and 18.62% respectively.
The Nigeria Eurobond market closed in green today, as buying interest was seen across the curve. That said, average yield plunged by 7bps closing at 6.97% from 7.03%.
While Nigeria’s Eurobonds saw an improved trading session, global bonds market witnessed a dovish reaction due to weaker-than-expected US labor data.
Hence, the US. 10Y treasury bonds closed flat as lingering Fed rate-hike bets kept participation subdued and sentiment guarded.
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