Lebanese Eurobonds Recuperated on Thursday

After 7 consecutive sessions of losses on the Lebanese Eurobonds market, demand finally posted a slight recovery on Thursday.  Accordingly, the BLOM Bond Index (BBI) ticked up by 0.04% to settle at 105.72 points, narrowing its year-to-date loss to 1.63%. Yields on the 5Y and 10Y Lebanese Eurobonds decreased by 4 basis points (bps) and 1 bp to 5.60% and 6.46%, respectively. With demand for U.S. medium term notes stagnating, the 5Y spread between Lebanese Eurobonds and their US counterpart narrowed by 4 bps to 411 bps. The Lebanese 5Y Credit Default Swaps (CDS) tightened from their previous quotes of 380-405 bps to 373-398 bps.

 

Last Previous  Change Y-t-D Change
BBI 105.719 105.676 0.04% -1.63%
Weighted Yield 5.74% 5.76% 4  bps
Duration (Years) 5.03 5.03
5Y Bond Yield 5.60% 5.64% -4 bps
5Y Spread* 411 415 -4 bps
10Y Bond Yield 6.46% 6.47% -1 bps
10Y Spread* 428 429 -1 bps

*Between Lebanese and U.S notes

  Price Yield  Yield Change (in bps)
Nov. 2016 100.78 4.06% -1
Mar. 2017 106.38 4.72% -1
Oct. 2017 100.5 4.75% -6
Jun. 2018 100.88 4.81% -5
Nov. 2018 100.38 5.02% 4
Apr. 2019 100.5 5.35% 0
Mar. 2020 103 5.62% -6
Apr. 2020 100.75 5.61% -6
Apr. 2021 110.75 5.97% 0
Oct. 2022 100.75 5.97% -6
Jan. 2023 99.88 6.02% -4
Dec. 2024 105.63 6.19% -2
Feb. 2025 99.25 6.31% 4
Nov. 2026 100.5 6.53% 0
Nov. 2027 101.25 6.60% 0
Feb. 2030 99.5 6.70% 5

 

 

 

 

 

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