Appetite for Lebanese Eurobonds Faded on Wednesday

Demand for Lebanese Eurobonds dropped on Wednesday causing the BLOM Bond Index (BBI) to decline by 0.26% to 102.67 points, broadening its year-to-date loss to 4.46%. Yields on the 5Y and 10Y Lebanese Eurobonds increased by 12 basis points (bps) and 3 bps to 6.54% and 6.90%, respectively.  As demand for medium term maturities in the U.S. declined at a slower pace than that of its Lebanese counterpart, the 5Y yield spread between both maturities broadened by 9 bps to 485bps. As for the Lebanese 5Y Credit Default Swaps (CDS), they narrowed from their previous quotes of 408-433 bps to 401-423 bps.

 LastPrevious ChangeY-t-D Change
Weighted Yield6.38%6.32%6 bps 
Duration (Years)5.135.14   
5Y Bond Yield6.54%6.42%12bps 
5Y Spread*4854769bps 
10Y Bond Yield6.90%6.87%3bps 
10Y Spread*4634621bps 

*Between Lebanese and U.S notes

 PriceYield Yield Change (in bps)
Nov. 20161004.75%0
Mar. 20171055.08%-1
Oct. 201799.255.42%21
Jun. 2018995.57%16
Nov. 201898.755.61%9
Apr. 201999.55.66%0
May. 20191006.00%8
Mar. 2020100.256.30%7
Apr. 2020986.33%7
Apr. 20211076.68%11
Oct. 202297.256.60%2
Jan. 202396.386.64%5
Nov. 2024976.70%8
Dec. 20241026.70%7
Feb. 202595.756.82%4
Jun. 202595.756.86%4
Nov. 202697.256.96%3
Nov. 202797.57.06%5
Nov. 202896.257.10%3
Feb. 2030957.22%3
Nov. 2035977.34%2








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