Slight Recovery in Demand for Lebanese Eurobonds on Friday
Demand for Lebanese Eurobonds marginally improved on Friday as illustrated by the BLOM Bond Index (BBI), which increased by 0.06%% to 104.85 points, narrowing its year-to-date loss to 2.43%. Yield on the 10Y Lebanese Eurobonds remained at 6.48% while that of the 5Y augmented by 5 basis points (bps) to 5.99%. As demand for medium-term US notes progressed on Thursday, the spread between the 5Y Lebanese notes and their U.S. counterpart widened by 12 basis points (bps) to 469 bps. As for the Lebanese 5Y Credit Default Swaps (CDS), they narrowed from the previous quote 403-426 bps to 397-419 bps.