Mixed Demand Characterized the Lebanese Eurobonds Market Yesterday

Disparate demand was witnessed on the Lebanese Eurobonds market on Thursday which caused the BLOM Bond Index (BBI) to remain relatively stable, as it marginally slipped by 0.01% to 102.66 points. Yields on the 5Y and 10Y Lebanese Eurobonds declined by 3 basis points (bps) each to 6.48% and 6.87%, respectively.  As demand for medium term maturities in the U.S. improved at a slower pace than that of its Lebanese counterpart, the 5Y yield spread between both maturities narrowed by 2 bps to 480 bps. As for the Lebanese 5Y Credit Default Swaps (CDS), they widened from their previous quotes of 401-423 bps to 411- 433 bps.

 LastPrevious ChangeY-t-D Change
Weighted Yield6.38%6.38%0 bps 
Duration (Years)5.135.13   
5Y Bond Yield6.48%6.51%-3bps 
5Y Spread*480482-2bps 
10Y Bond Yield6.87%6.90%-3bps 
10Y Spread*4634630bps 

*Between Lebanese and U.S notes

 PriceYield Yield Change (in bps)
Nov. 20161004.75%0
Mar. 20171055.07%-1
Oct. 201799.385.34%-7
Jun. 2018995.57%0
Nov. 201898.755.61%0
Apr. 2019995.82%16
May. 20191006.00%0
Mar. 2020100.386.27%-3
Apr. 202098.136.29%-3
Apr. 2021107.256.63%-5
Oct. 202297.136.62%2
Jan. 202396.256.66%2
Nov. 202497.256.66%-4
Dec. 2024101.56.77%7
Feb. 202595.756.82%0
Jun. 202595.886.84%-2
Nov. 202697.256.96%0
Nov. 202797.57.06%0
Nov. 202896.257.10%0
Feb. 203094.57.27%6
Nov. 2035977.34%0








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