Demand for Lebanese Eurobonds improved at the start of the week, with the BLOM Bond Index (BBI) adding 0.13% to 102.56 points. Yields on the 5Y and 10Y Lebanese Eurobonds lost 3 basis points (bps) and 4 bps to 6.45% and 6.84%, respectively. In the US, demand for medium term maturities decreased, narrowing the 5Y yield spread between the Lebanese Eurobonds and their US comparable by 4 bps to 480 bps. As for the 5Y Credit Default Swaps, they broadened slightly to 408-428 bps from a previous quote of 407-427 bps.
*Between Lebanese and U.S notes Last Previous Change Y-t-D Change BBI 102.558 102.427 0.128% -4.57% Weighted Yield 6.44% 6.45% -1 bps Duration (Years) 5.14 5.11 5Y Bond Yield 6.45% 6.48% -3 bps 5Y Spread* 480 484 -4 bps 10Y Bond Yield 6.84% 6.88% -4 bps 10Y Spread* 463 466 -3 bps Price Yield Yield Change (in bps) Nov. 2016 100 4.75% 0 Mar. 2017 104.38 5.47% 7 Oct. 2017 99 5.57% 15 Jun. 2018 99 5.58% 0 Nov. 2018 98.75 5.61% 9 Apr. 2019 98.5 5.99% -17 May. 2019 99.13 6.28% -4 Nov.2019 97 6.31% 0 Mar. 2020 100.13 6.34% -4 Apr. 2020 97.88 6.36% -3 Apr. 2021 107.13 6.65% -3 Oct. 2022 97.13 6.63% -2 Jan. 2023 96.25 6.67% 0 Nov. 2024 97.25 6.66% -4 Dec. 2024 101.75 6.74% -4 Feb. 2025 95.88 6.81% -2 Jun. 2025 95.88 6.85% -2 Nov. 2026 97.13 6.98% -8 Nov. 2027 97.63 7.05% -5 Nov. 2028 96.38 7.08% -5 Feb. 2030 95.25 7.19% -3 Nov. 2035 97.5 7.29% 0