Appetite for Lebanese Eurobonds Waned on Wednesday

Demand on the Lebanese Eurobonds market dropped on Wednesday, as illustrated by the 0.32% daily drop and the 3.30% year-to-date decline in the BLOM Bond Index (BBI) to 103.93 points. Yields on the 5Y and 10Y Lebanese Eurobonds augmented by 2 basis point (bps) and 6 bps to 6.11% and 6.66%, respectively. As demand for medium term maturities in the U.S. stagnated at 1.72% yesterday, the spread between the yields of the 5Y Lebanese Eurobonds and their U.S. counterpart broadened by 2 bps to 439 bps. As for the Lebanese 5Y Credit Default Swaps (CDS), they remained at their previous quotes 392-417 bps.

  Last Previous  Change Y-t-D Change
BBI 103.925 104.261 -0.322% -3.30%
Weighted Yield 6.11% 6.04% 7  bps  
Duration (Years) 4.86 4.86      
5Y Bond Yield 6.11% 6.09% 2 bps  
5Y Spread* 439 437 2 bps  
10Y Bond Yield 6.66% 6.60% 6 bps  
10Y Spread* 434 428 6 bps  

*Between Lebanese and U.S notes

  Price Yield  Yield Change (in bps)
Nov. 2016 100 4.75% 0
Mar. 2017 105.13 5.04% -1
Oct. 2017 99.75 5.14% 14
Jun. 2018 99.5 5.36% 0
Nov. 2018 99.25 5.42% 9
Apr. 2019 99.75 5.58% 0
May. 2019 101 5.68% 0
Nov.2019 98.5 5.87% 14
Mar. 2020 101.75 5.91% 20
Apr. 2020 99.5 5.93% 13
Apr. 2021 109.25 6.21% 5
Oct. 2022 99 6.28% 9
Jan. 2023 97.75 6.39% 4
Dec. 2024 103.63 6.46% 9
Feb. 2025 97.75 6.52% 7
Jun. 2025 97.75 6.57% 7
Nov. 2026 99.25 6.70% 3
Nov. 2027 100 6.75% 6
Feb. 2030 97.5 6.93% 6

 

 

 

 

 

 

 

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