Demand for Long-Term Lebanese Eurobonds Fell on Wednesday

Demand for long-term Lebanese Eurobonds slightly fell on Wednesday as the BLOM Bond Index (BBI) down ticked by 0.03% to 106.96 points. Yield on the 10Y Lebanese Eurobonds went up by 1 basis point (bp) to 6.10% while that of the 5Y steadied at 5.22%. Demand for medium-term U.S notes improved pushing the yield on those notes down by 5 bps to 1.63%. Consequently, the spread between the 5Y Lebanese Eurobonds and its US equivalent broadened by 5 bps to 359 bps. Meanwhile, Lebanon’s 5Y Credit Default Swaps (CDS) moved from a previous quote of 342-364 bps to 340-368 bps.

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