Lebanese Eurobonds Demand Fell on Wednesday

Demand for Lebanese Eurobonds had a poor showing on Wednesday causing the BLOM Bond Index (BBI) to decline by 0.12% to 107.52 points. Yields on the 5Y and 10Y Lebanese Eurobonds edged up by 2 basis points (bps) and 3 bps to settle at 5.16% and 5.99%, respectively. Similarly, the 5Y U.S notes saw a fall in demand demonstrated by the 8 bps ascent on its yield to 1.69%. Accordingly, the yield on the 5Y Lebanese Eurobonds and its US equivalent narrowed by 4 bps to 347 bps, lowest it’s been since the 8th of December last year. Meanwhile, Lebanon’s 5Y Credit Default Swaps (CDS) narrowed from a previous quote of 352-375 bps to 347-371 bps.

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