Shy Demand for Lebanese Eurobonds Last Friday

Demand for Lebanese Eurobonds was quite frail on Friday, illustrated by the BLOM BOND INDEX (BBI) steadying at 103.85 points. The yield on the 5Y Lebanese Eurobonds remained at Thursday’s level of 6.16%, while that of the 10Y marginally ticked up by 1 basis point (bp) to 6.70%. Demand for medium term US treasuries improved over the same period, broadening the 5Y yield spread between Lebanese Eurobonds and their US comparable by 6 bps to 449 bps. The 5Y Credit Default Swaps remained at their previous quotes of 411-431 bps.

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