The BLOM Bond Index (BBI) registered a 0.24% drop on Friday as investors’ appetite for the longer maturities (15 years and above) seemed to be fading. In fact, and despite the improving demand for medium term maturities (between 3 and 10 years), talks about the Ministry’s of Finance issuance of Eurobonds maturing in 2024 and 2031 may have influenced investors’ activity on the market, triggering down the index to 103.42 points.
However yields on the 5Y and 10Y Lebanese Eurobonds fell by 2 basis points (bps) and 1 bp to 6.23% and 6.75%, respectively.
As for the US, demand for the 5Y US treasuries decreased on Friday, causing the spread between the 5Y yield on the Lebanese Eurobonds and that of their US counterparts to narrow by 5 bps to 499 bps.
Lebanon’s 5Y Credit Default Swaps (CDS) remained stable at their previous bid-ask range of 452-472 bps.
*Between Lebanese and U.S notes
