Improved Demand for Long Term Lebanese Eurobonds Yesterday
Demand for long term Lebanese Eurobonds progressed on Tuesday which caused the BLOM Bond Index (BBI) to tick up by 0.09% to 103.53 points. The yield on the 5Y Lebanese Eurobonds remained at Monday’s level of 6.30% while the yield on the 10Y Lebanese Eurobonds declined by 5 basis points (bps) to 6.71%. In the US, demand for medium term maturities dropped, causing the 5Y yield spread between the Lebanese Eurobonds and their US comparable to narrow by 1 bp to 462 bps. Meanwhile, the 5Y Credit Default Swaps steadied at their previous quotes of 406-426 bps.