Healthy Appetite for Long Term Lebanese Eurobonds on Tuesday
Demand for long term Lebanese Eurobonds progressed on Tuesday, illustrated by the BLOM BOND INDEX (BBI) increasing by 0.11% to settle at 103.97 points. The yield on the 10Y Lebanese Eurobonds ticked down by 3 basis points (bps) to 6.67%, while that of the 5Y remained steady at 6.16% for the 5th consecutive session. Demand for medium term US treasuries regressed over the same period, causing the 5Y yield spread between Lebanese Eurobonds and their US comparable to narrow by 7 bps to 442 bps. The 5Y Credit Default Swaps remained at their previous quotes of 411-431 bps.