Lebanon’s BLOM Bond Index (BBI) decreased over the last week by 1.25% to close at 87.19 points. As for the JP Morgan Emerging Markets’ Bond Index (EMBI), it recorded a weekly increase by 6.45% and reached 815 points.
As such, the yields on (10Y) and (5Y) Lebanese Eurobonds increased by 21 and 36 basis points (bps) to reach 10.80% each.
In the US, the yields on the (5Y) treasuries & the (10Y) treasuries witnessed a decrease of 15 and 13 basis points (bps) ending this week at 2.94% and 3.11% respectively. In fact, the UK presented its draft withdrawal agreement to the EU this week which triggered concerns among investors. The latter sought safety in US treasuries as they feared the growing uncertainty in the political situation and the future of the economic relations between the union and the UK.
Against these bond market developments, the 5Y spread between the yield on the Lebanese Eurobonds and their US counterparts widened by 51 bps to settle at 786, while the 10Y spread between the yield on the Lebanese Eurobonds and their US counterparts winded by 34 bps to settle at 769 bps.
Weekly Change of Lebanese Eurobonds Prices
| Prices | Weekly | Yields | Weekly | ||||
| Maturity | Coupon in % | 15/11/2018 | 8/11/2018 | Change | 15/11/2018 | 11/8/2018 | Change bps |
| 11/28/2019 | 5.45 | 95.63 | 96.13 | -0.52% | 9.99% | 9.38% | 61 |
| 3/9/2020 | 6.375 | 95.5 | 96 | -0.52% | 10.10% | 9.62% | 47 |
| 4/14/2020 | 5.8 | 94.13 | 94.5 | -0.39% | 10.36% | 10.01% | 35 |
| 6/19/2020 | 6.15 | 93.88 | 94.25 | -0.39% | 10.41% | 10.09% | 32 |
| 4/12/2021 | 8.25 | 94.75 | 95.13 | -0.40% | 10.78% | 10.57% | 20 |
| 10/4/2022 | 6.1 | 85.25 | 86.25 | -1.16% | 10.85% | 10.48% | 37 |
| 1/27/2023 | 6 | 83.75 | 85 | -1.47% | 10.92% | 10.48% | 44 |
| 4/22/2024 | 6.65 | 82.38 | 84 | -1.93% | 11.04% | 10.58% | 46 |
| 11/4/2024 | 6.25 | 79.63 | 81.13 | -1.85% | 10.99% | 10.58% | 41 |
| 12/3/2024 | 7.00 | 82.63 | 84.25 | -1.92% | 11.01% | 10.58% | 43 |
| 2/26/2025 | 6.20 | 79.13 | 80 | -1.09% | 10.87% | 10.63% | 23 |
| 6/12/2025 | 6.25 | 79 | 79.63 | -0.79% | 10.79% | 10.62% | 17 |
| 11/28/2026 | 6.60 | 77.25 | 78.75 | -1.90% | 10.92% | 10.58% | 34 |
| 3/23/2027 | 6.85 | 78.13 | 79.25 | -1.41% | 10.90% | 10.65% | 25 |
| 11/29/2027 | 6.75 | 77 | 78 | -1.28% | 10.80% | 10.58% | 21 |
| 11/3/2028 | 6.65 | 75.5 | 77 | -1.95% | 10.71% | 10.41% | 30 |
| 2/26/2030 | 6.65 | 74.25 | 75.75 | -1.98% | 10.62% | 10.33% | 28 |
| 4/22/2031 | 7.00 | 74.38 | 76.38 | -2.62% | 10.79% | 10.43% | 36 |
| 3/23/2032 | 7.00 | 74 | 76 | -2.63% | 10.70% | 10.35% | 35 |
| 11/2/2035 | 7.05 | 73.88 | 75.5 | -2.15% | 10.35% | 10.09% | 25 |
| 3/23/2037 | 7.25 | 74.38 | 75.88 | -1.98% | 10.40% | 10.17% | 23 |