Demand for Lebanese Eurobonds Weakened for the 6th Session Running
Demand on the Lebanese Eurobonds market declined on Tuesday, as illustrated by the 0.13% daily drop and the 2.99% year-to-date decline in the BLOM Bond Index (BBI) to 104.26 points. Yields on the 5Y and 10Y Lebanese Eurobonds augmented by 1 basis point (bp) and 3 bps to 6.09% and 6.60%, respectively. Demand for medium term maturities in the U.S. progressed, which caused the 5Y spread between the Lebanese Eurobonds and their U.S. counterpart to broaden by 4 bps to 437 bps. As for the Lebanese 5Y Credit Default Swaps (CDS), they remained almost unmoved at 392-417 bps.