Unchanged Demand for Lebanese Eurobonds Following the Eid Holiday
Demand stagnated for Lebanese Eurobonds on Monday as shown by the BLOM Bond Index (BBI) that steadied at 105.56 points, and recorded a year-to-date loss of 1.78%. Yields on the 5Y and 10Y Lebanese Eurobonds remained at 5.82% and 6.37%, respectively. As demand for medium-term US notes improved on Monday, the spread between the 5Y Lebanese notes and their U.S. counterpart widened by 5 basis points (bps) to 440 bps. As for the Lebanese 5Y Credit Default Swaps (CDS), they maintained their previous quotes of 403-428 bps.