Weakening Demand Push BBI Down on Tuesday

In the Lebanese Eurobond market, the Blom Bond Index (BBI) slipped slightly by 0.02% to 106.91 points. The 10Y Eurobonds’ yields remained constant at 6.21% while that of the 5Y gained 1 basis point (bp) to register 5.27%. As the demand for medium term US treasuries decreased, the spread between the 5Y Lebanese Eurobonds and its US comparable narrowed by 8 bps to 365 bps. Furthermore, Lebanon’s 5Y Credit Default Swaps (CDS) remained at 370-392 bps.

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