- FGN Launches $500 Million Domestic Dollar Bond: The Federal Government launched a $500 million domestic dollar bond as part of a larger $2 billion program. The bond, which offers an annual yield of 9.75%, is expected to boost dollar inflows and support the naira’s stability.
- Oil Market Update: Oil prices declined early in the week due to weak economic data from China but rebounded, closing at $79.02 per barrel amid tensions in the Middle East and falling U.S. inventories.
- Foreign Exchange: The naira showed volatility in both the parallel and official markets, closing the week at N1,600/$ and N1,543.84/$, respectively, due to demand-supply imbalances.
- Money Market: The market experienced tight liquidity at the start of the week, but liquidity improved later in the week, driven by coupon payments and FAAC inflows, resulting in a decline in short-term interest rates.
- Fixed Income: Both the treasury bills and bonds markets showed bullish sentiment, supported by reduced inflation and lower bond offers at the primary market auction.
Equities Market: The NGX ASI lost 1.16% amidst persistent selloffs, but a bullish trend is expected to return due to renewed investor interest and easing inflation.
