Over the past week, the BLOM Bond Index (BBI) slipped by 0.18%, to end the week at 103.75 points. Meanwhile, the JP Morgan Emerging Markets’ Bond Index (EMBI) registered a marginal uptick of 0.02% to end the week at 805.56 points.
The BBI reflects the lower demand for Lebanese Eurobonds maturing in 5 and 10 years, as their respective yields climbed from last week’s 6.05% and 6.92% to this week’s 6.12% and 6.95%.
The performance of US treasuries was little changed this week despite the issuance of the FOMC minutes of their September meeting and the geopolitical risks that flared up again, with the detection of some unusual seismic activity attributed to North Korea’s testing of nuclear bombs over the week.
As such, the yields on the US Treasuries maturing in 5Y rose from 1.94% to 1.95% this week, while those on the 10Y treasuries retreated from last week’s 2.35% to this week’s 2.33%.
The 5Y and 10Y spreads between the Lebanese Eurobonds and their US comparables climbed from last week’s 411 bps and 457 bps to 417 bps and 462 bps, respectively.
Weekly Change of Lebanese Eurobonds Prices
| Prices | Weekly | Yields | Weekly | |||
| Maturity | Coupon in % | 12/10/2017 | 05/10/2017 | Change | 12/10/2017 | 05/10/2017 | Change bps |
| 12/11/2018 | 5.15 | 100.5 | 100.25 | 0.25% | 4.67% | 4.91% | -24 |
| 23/04/2019 | 5.5 | 100.63 | 100.65 | -0.02% | 5.07% | 5.06% | 1 |
| 20/05/2019 | 6 | 101.38 | 101.38 | 0.00% | 5.09% | 5.10% | -1 |
| 28/11/2019 | 5.45 | 100.38 | 100.38 | 0.00% | 5.26% | 5.26% | 0 |
| 09/03/2020 | 6.375 | 102.25 | 102.25 | 0.00% | 5.36% | 5.37% | -1 |
| 14/04/2020 | 5.8 | 100.5 | 100.5 | 0.00% | 5.58% | 5.58% | 0 |
| 19/06/2020 | 6.15 | 101.13 | 101.25 | -0.12% | 5.69% | 5.64% | 5 |
| 12/04/2021 | 8.25 | 107.63 | 107.88 | -0.23% | 5.81% | 5.74% | 6 |
| 04/10/2022 | 6.1 | 99.88 | 100.13 | -0.25% | 6.13% | 6.07% | 6 |
| 27/01/2023 | 6 | 98.63 | 98.75 | -0.12% | 6.31% | 6.28% | 3 |
| 22/04/2024 | 6.65 | 100 | 100.25 | -0.25% | 6.65% | 6.60% | 5 |
| 04/11/2024 | 6.25 | 98 | 98.13 | -0.13% | 6.61% | 6.58% | 2 |
| 03/12/2024 | 7.00 | 101.88 | 102 | -0.12% | 6.66% | 6.64% | 2 |
| 26/02/2025 | 6.20 | 97.13 | 97.38 | -0.26% | 6.70% | 6.65% | 4 |
| 12/06/2025 | 6.25 | 97.13 | 97.38 | -0.26% | 6.73% | 6.69% | 4 |
| 28/11/2026 | 6.60 | 98.13 | 98.38 | -0.25% | 6.88% | 6.84% | 4 |
| 23/03/2027 | 6.85 | 99.5 | 99.75 | -0.25% | 6.92% | 6.89% | 4 |
| 29/11/2027 | 6.75 | 98.5 | 98.75 | -0.25% | 6.96% | 6.92% | 4 |
| 03/11/2028 | 6.65 | 96.88 | 97.25 | -0.38% | 7.06% | 7.01% | 5 |
| 26/02/2030 | 6.65 | 96.38 | 96.75 | -0.38% | 7.09% | 7.05% | 5 |
| 22/04/2031 | 7.00 | 98.25 | 98.25 | 0.00% | 7.20% | 7.20% | 0 |
| 23/03/2032 | 7.00 | 97.25 | 97.63 | -0.39% | 7.31% | 7.27% | 4 |
| 02/11/2035 | 7.05 | 96.63 | 97.25 | -0.64% | 7.39% | 7.33% | 6 |
| 23/03/2037 | 7.25 | 96.88 | 97 | -0.12% | 7.56% | 7.55% | 1 |