Demand for Medium Term Lebanese Eurobonds Slightly Improved on Friday
Overall appetite for medium term Lebanese Eurobonds witnessed a slight improvement on Friday which caused the BLOM Bond Index (BBI) to marginally tick up by 0.01% to 104.84 points, narrowing its year-to-date loss to 2.44%. Yield on the 10Y Lebanese Eurobonds steadied at 6.49% while that of the 5Y dropped by 2 basis points (bps) to 5.98%. In the US, demand for medium term maturities weakened causing the 5Y spread between the Lebanese Eurobonds and their U.S comparable to narrow by 4 bps to 462 bps. As for the Lebanese 5Y Credit Default Swaps (CDS), they narrowed from their previous quotes of 389-417 bps to 394-417 bps.