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.

  Last Previous  Change Y-t-D Change
BBI 102.660 102.674 -0.014% -4.48%
Weighted Yield 6.38% 6.38% 0  bps  
Duration (Years) 5.13 5.13      
5Y Bond Yield 6.48% 6.51% -3 bps  
5Y Spread* 480 482 -2 bps  
10Y Bond Yield 6.87% 6.90% -3 bps  
10Y Spread* 463 463 0 bps  

*Between Lebanese and U.S notes

  Price Yield  Yield Change (in bps)
Nov. 2016 100 4.75% 0
Mar. 2017 105 5.07% -1
Oct. 2017 99.38 5.34% -7
Jun. 2018 99 5.57% 0
Nov. 2018 98.75 5.61% 0
Apr. 2019 99 5.82% 16
May. 2019 100 6.00% 0
Nov.2019 97.5 6.16% 0
Mar. 2020 100.38 6.27% -3
Apr. 2020 98.13 6.29% -3
Apr. 2021 107.25 6.63% -5
Oct. 2022 97.13 6.62% 2
Jan. 2023 96.25 6.66% 2
Nov. 2024 97.25 6.66% -4
Dec. 2024 101.5 6.77% 7
Feb. 2025 95.75 6.82% 0
Jun. 2025 95.88 6.84% -2
Nov. 2026 97.25 6.96% 0
Nov. 2027 97.5 7.06% 0
Nov. 2028 96.25 7.10% 0
Feb. 2030 94.5 7.27% 6
Nov. 2035 97 7.34% 0

 

 

 

 

 

 

 

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