Higher demand was registered for Lebanese Eurobonds over the past week as shown by the 0.69% weekly increase in the BLOM Bond Index (BBI) to 103.36 points. The Lebanese gauge was outpaced by the JP Morgan Emerging Markets’ Bond Index which rose by a weekly 1.61% to 674.42 points.
The yieldS on the 5 Year and 10 Year Lebanese Eurobonds fell from last week’s 6.50% and 6.93% to 6.36% and 6.82%, respectively.
In contrast, 5 Year and 10 Year yields in the US rose from 1.11% and 1.63% to 1.21% and 1.75%, respectively.
Accordingly, the spread between the yields on the 5Y and 10Y Lebanese Eurobonds and their US comparable narrowed from 539 bps and 530 bps to 515 bps and 507 bps, respectively.