The year 2015 still portrayed key problems for Lebanon on the political and economic fronts. Parliamentary sessions for the election of a new President were and, are still, regularly postponed, rendering legislation and decision making ever more difficult. On the economic front, external and fiscal deficits have persisted, pushing the public debt further up.
The performance of the Lebanese Eurobonds’ market in the first six months of 2015 was rather subdued, but remained relatively resilient in the face of the sour economic and political scenes. In fact, the BLOM Bond Index (BBI) ended the first half of 2015 at 107.13 points, down by 0.31% year-to-date and down by 0.89% year-on-year. The weighted average yield of Lebanese Eurobonds, which is in an inverse relationship with the price, rose in H1 2015. After ending the year 2014 at 5.24%, the weighted yield surged to 5.49% at the end of June 2015.
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Lebanese Eurobonds Still Benefitting from Investor Confidence in H1 2015