Akintunde Oyedokun
Research Analyst
Oil prices edged higher Monday, supported by progress toward ending the U.S. government shutdown. Brent crude rose 0.7% to $64.06 per barrel, while WTI climbed to $60.18. Gains were capped by lingering concerns over rising inventories and a global supply glut.
Meanwhile, Russia’s Lukoil declared force majeure at Iraq’s West Qurna-2 oilfield amid sanctions-related disruptions.
China’s Prices Show Modest Recovery As Deflation Risks Linger
China’s October data showed easing factory-gate deflation and a slight rebound in consumer prices. PPI fell 2.1% year-on-year, while CPI rose 0.2%, ending two months of decline. Core inflation also climbed to a 20-month high, signaling gradual price stabilization. Analysts say supply-side reforms are helping, but weak demand and slow growth mean deflation risks persist, with policymakers expected to introduce more support if recovery falters.
India’s Unemployment Rate Falls To 5.2% On Rural, Female Job Growth
India’s jobless rate dropped to 5.2% in Q3 2025 from 5.4% previously, driven by strong rural employment during the farming season and rising female workforce participation. Rural unemployment eased to 4.4%, while urban joblessness edged up to 6.9%, according to the Periodic Labour Force Survey. The labour force and worker participation rates both rose slightly, reflecting higher female engagement. Self-employment increased in rural areas, while regular wage jobs improved modestly in urban centers.
Egypt Inflation Rises to 12.5% in October
Egypt’s urban consumer inflation rose to 12.5% in October, ending a four-month decline, driven by higher fuel prices and new rent laws. Core inflation increased to 12.1%, while monthly prices grew 1.8%. This follows a sharp drop from last year’s 38%, aided by IMF support, but the central bank may now face renewed price pressures despite recent rate cuts.
Nigeria’s Debt Yields Jump on Tight Monetary Policy
Yields in Nigeria’s fixed-income market rose sharply last week, pushing total debt to N91.99 trillion. Treasury bills led gains, while sovereign bonds were mostly stable. Corporate bonds showed mixed performance, and money market rates edged higher amid tighter liquidity.
The rise was driven by investor sell pressure, anticipation of fresh auctions, and moves to avoid the upcoming Capital Gains Tax. Market attention is now on the November 24 FGN bond auction, which could influence yield trends in the coming weeks.
