Demand for Lebanese Eurobonds saw a decline on Friday, as shown by the BLOM Bond Index (BBI) that lost 0.29% to 102.43 points. The yield on the 5Y Lebanese Eurobonds lost 2 basis points (bps) to 6.48%, while that of 10Y added 1 bp to 6.88%. in the US, demand for medium term maturities increased at the same pace as their Lebanese counterpart, leaving the 5Y yield spread between the Lebanese Eurobonds and their US comparable unchanged at 484 bps. As for the 5Y Credit Default Swaps, they narrowed slightly from 408-428 bps to 407-427 bps.
*Between Lebanese and U.S notes Last Previous Change Y-t-D Change BBI 102.427 102.724 -0.289% -4.69% Weighted Yield 6.45% 6.37% 8 bps Duration (Years) 5.11 5.11 5Y Bond Yield 6.48% 6.50% -2 bps 5Y Spread* 484 484 – 10Y Bond Yield 6.88% 6.87% 1 bps 10Y Spread* 466 464 2 bps Price Yield Yield Change (in bps) Nov. 2016 100 4.75% 0 Mar. 2017 104.5 5.40% 38 Oct. 2017 99.25 5.42% 7 Jun. 2018 99 5.58% 0 Nov. 2018 99 5.52% 0 Apr. 2019 98 6.16% 17 May. 2019 99 6.32% 32 Nov.2019 97 6.31% 15 Mar. 2020 100 6.37% 0 Apr. 2020 97.75 6.39% 7 Apr. 2021 107 6.68% 11 Oct. 2022 97 6.65% 5 Jan. 2023 96.25 6.66% 5 Nov. 2024 97 6.70% 8 Dec. 2024 101.5 6.77% 7 Feb. 2025 95.75 6.83% 4 Jun. 2025 95.75 6.86% 4 Nov. 2026 96.5 7.06% 13 Nov. 2027 97.25 7.09% 3 Nov. 2028 96 7.13% 6 Feb. 2030 95 7.22% -6 Nov. 2035 97.5 7.29% -5