Appetite for Lebanese Eurobonds Faded on Wednesday
Demand for Lebanese Eurobonds dropped on Wednesday causing the BLOM Bond Index (BBI) to decline by 0.26% to 102.67 points, broadening its year-to-date loss to 4.46%. Yields on the 5Y and 10Y Lebanese Eurobonds increased by 12 basis points (bps) and 3 bps to 6.54% and 6.90%, respectively. As demand for medium term maturities in the U.S. declined at a slower pace than that of its Lebanese counterpart, the 5Y yield spread between both maturities broadened by 9 bps to 485bps. As for the Lebanese 5Y Credit Default Swaps (CDS), they narrowed from their previous quotes of 408-433 bps to 401-423 bps.
| Last | Previous | Change | Y-t-D Change | ||
| BBI | 102.674 | 102.940 | -0.258% | -4.46% | |
| Weighted Yield | 6.38% | 6.32% | 6 | bps | |
| Duration (Years) | 5.13 | 5.14 | |||
| 5Y Bond Yield | 6.54% | 6.42% | 12 | bps | |
| 5Y Spread* | 485 | 476 | 9 | bps | |
| 10Y Bond Yield | 6.90% | 6.87% | 3 | bps | |
| 10Y Spread* | 463 | 462 | 1 | bps | |
*Between Lebanese and U.S notes
| Price | Yield | Yield Change (in bps) | |
| Nov. 2016 | 100 | 4.75% | 0 |
| Mar. 2017 | 105 | 5.08% | -1 |
| Oct. 2017 | 99.25 | 5.42% | 21 |
| Jun. 2018 | 99 | 5.57% | 16 |
| Nov. 2018 | 98.75 | 5.61% | 9 |
| Apr. 2019 | 99.5 | 5.66% | 0 |
| May. 2019 | 100 | 6.00% | 8 |
| Nov.2019 | 97.5 | 6.16% | 7 |
| Mar. 2020 | 100.25 | 6.30% | 7 |
| Apr. 2020 | 98 | 6.33% | 7 |
| Apr. 2021 | 107 | 6.68% | 11 |
| Oct. 2022 | 97.25 | 6.60% | 2 |
| Jan. 2023 | 96.38 | 6.64% | 5 |
| Nov. 2024 | 97 | 6.70% | 8 |
| Dec. 2024 | 102 | 6.70% | 7 |
| Feb. 2025 | 95.75 | 6.82% | 4 |
| Jun. 2025 | 95.75 | 6.86% | 4 |
| Nov. 2026 | 97.25 | 6.96% | 3 |
| Nov. 2027 | 97.5 | 7.06% | 5 |
| Nov. 2028 | 96.25 | 7.10% | 3 |
| Feb. 2030 | 95 | 7.22% | 3 |
| Nov. 2035 | 97 | 7.34% | 2 |
