Demand Decreased for Long-term Lebanese Eurobonds on Tuesday
Demand for long-term Lebanese Eurobonds diminished on Tuesday, as the BLOM Bond Index (BBI) recorded a 0.06% decrease to 102.38 points. The yield on the 5Y Lebanese Eurobonds dropped by 3 basis points (bps) to reach 6.62%, while that of the 10Y remained at 6.94% for the fifth consecutive session. Noting that demand for medium term US notes slightly improved but at a slower rate than its Lebanese equivalent, the spread between the two maturities narrowed by 1 bp to 517 points. Lebanon’s 5Y Credit Default Swaps also increased from their previous quotes of 442-472 bps to 448-468 bps.