06/10/2016 | 29/09/2016 | Change | Year to Date | |
BLOM Bond Index (BBI)* | 103.21 | 103.31 | -0.10% | -0.86% |
Weighted Yield** | 6.40% | 6.36% | 0.63% | 4% |
Weighted Spread*** | 539 | 550 | -2.00% | 25% |
29/09/2016 | 29/09/2016 | Weekly Change | |
BBI | 103.21 | 103.31 | -0.10% |
JP Morgan EMBI | 770.52 | 771.70 | -0.15% |
5Y LEB | 6.22% | 6.15% | |
10Y LEB | 6.81% | 6.81% | |
5Y US | 1.28 | 1.12 | |
10Y US | 1.75 | 1.56 | |
5Y SPREAD | 494 | 503 | |
10Y SPREAD | 506 | 525 |
The Lebanese Eurobonds Market witnessed a drop in demand this week, as depicted by the BLOM Bond Index (BBI), that lost 0.10% to 103.31 points. Similarly, the JP Morgan Emerging Markets’ Bond Index fell 0.15% this week to to 770.52 points, hence lagging behind the BBI.
Demand for Lebanese Eurobonds maturing in 5Y and 10Y decreased over the week. The yield of Lebanese Eurobonds maturing in 5Y rose from 6.15% to 6.22%, while the yields on the Eurobonds maturing in 10 years remained stable at 6.81%.
In the US, as investors are expecting better than forecasted payrolls for September and awaiting a speech next week by Fed Chair Janet Yellen that may signal a rate hike. Demand for treasuries dropped thus triggering 4-month high yields. Yields on the US treasuries maturing in 5Y and 10Y rose from 1.12% and 1.56%, to 1.28% and 1.75%, respectively, this week.
The spread between the yields on the 5 Year and 10 Year Lebanese Eurobonds and their US comparable narrowed over the past week from 503 bps and 525 bps to 494 bps and 506 bps, respectively.
5 Year Credit Default Swaps, Mid-Prices (in basis points)
06/10/2016 | 29/09/2016 | |
Lebanon | 485 | 485 |
KSA | 156 | 164 |
Dubai | 156 | 165 |
Brazil | 272 | 275 |
Turkey | 249 | 266 |
Prices | Weekly | Yields | Weekly | ||||
Maturity Date | Coupon in % | 06/10/2016 | 29/09/2016 | Change | 06/10/2016 | 29/09/2016 | Change bps |
12/10/2017 | 5 | 99.25 | 99.38 | -0.13% | 5.77% | 5.62% | 15 |
12/06/2018 | 5.15 | 99 | 99 | 0.00% | 5.78% | 5.77% | 1 |
12/11/2018 | 5.15 | 98.75 | 98.75 | 0.00% | 5.79% | 5.78% | 1 |
23/04/2019 | 5.5 | 99.13 | 99.13 | 0.00% | 5.87% | 5.87% | 0 |
20/05/2019 | 6 | 99.5 | 100.25 | -0.75% | 6.21% | 5.89% | 31 |
28/11/2019 | 5.45 | 98.63 | 98.63 | 0.00% | 5.93% | 5.93% | 0 |
09/03/2020 | 6.375 | 100.88 | 101.13 | -0.25% | 6.08% | 6.01% | 8 |
14/04/2020 | 5.8 | 99.13 | 99.35 | -0.22% | 6.08% | 6.01% | 7 |
19/06/2020 | 6.15 | 100.13 | 100.38 | -0.25% | 6.11% | 6.03% | 8 |
12/04/2021 | 8.25 | 108 | 108.38 | -0.35% | 6.19% | 6.11% | 9 |
04/10/2022 | 6.1 | 98.63 | 98.75 | -0.12% | 6.38% | 6.35% | 3 |
27/01/2023 | 6 | 97.75 | 98 | -0.26% | 6.44% | 6.39% | 5 |
04/11/2024 | 6.25 | 97.13 | 97.25 | -0.12% | 6.72% | 6.69% | 2 |
22/04/2024 | 6.65 | 99.75 | 99.75 | 0.00% | 6.69% | 6.69% | 0 |
03/12/2024 | 7.00 | 101.75 | 101.9 | -0.15% | 6.72% | 6.69% | 2 |
26/02/2025 | 6.20 | 96.63 | 96.63 | 0.00% | 6.73% | 6.73% | 0 |
12/06/2025 | 6.25 | 96.63 | 96.63 | 0.00% | 6.77% | 6.77% | 0 |
28/11/2026 | 6.60 | 98.38 | 98.38 | 0.00% | 6.82% | 6.82% | 0 |
29/11/2027 | 6.75 | 99 | 99 | 0.00% | 6.88% | 6.88% | 0 |
03/11/2028 | 6.65 | 97.75 | 97.75 | 0.00% | 6.93% | 6.93% | 0 |
26/02/2030 | 6.65 | 97.25 | 97 | 0.26% | 6.97% | 7.00% | -3 |
22/04/2031 | 7.00 | 99.63 | 99.38 | 0.25% | 7.04% | 7.07% | -3 |
02/11/2035 | 7.05 | 99.25 | 99 | 0.25% | 7.12% | 7.15% | -2 |