Shy Demand for Lebanese Eurobonds on the 4th of January

Demand for Lebanese Eurobonds was quite frail on Monday, illustrated by the BLOM BOND INDEX (BBI) marginally ticking down by 0.005% to 104.11 points. The yield on the 5Y went up by 3 basis points (bps) to 6.13%, while that of the 10Y remained at Thursday’s level of 6.67%. Demand for medium term US treasuries improved, causing the 5Y yield spread between Lebanese Eurobonds and their US comparable to broaden by 10 bps to 440 bps. The 5Y Credit Default Swaps slightly narrowed from their previous quotes of 416-436 bps to reach 415-435 bps.

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