Appetite for Lebanese Eurobonds Waned on Wednesday
Demand on the Lebanese Eurobonds market dropped on Wednesday, as illustrated by the 0.32% daily drop and the 3.30% year-to-date decline in the BLOM Bond Index (BBI) to 103.93 points. Yields on the 5Y and 10Y Lebanese Eurobonds augmented by 2 basis point (bps) and 6 bps to 6.11% and 6.66%, respectively. As demand for medium term maturities in the U.S. stagnated at 1.72% yesterday, the spread between the yields of the 5Y Lebanese Eurobonds and their U.S. counterpart broadened by 2 bps to 439 bps. As for the Lebanese 5Y Credit Default Swaps (CDS), they remained at their previous quotes 392-417 bps.
| Last | Previous | Change | Y-t-D Change | ||
| BBI | 103.925 | 104.261 | -0.322% | -3.30% | |
| Weighted Yield | 6.11% | 6.04% | 7 | bps | |
| Duration (Years) | 4.86 | 4.86 | |||
| 5Y Bond Yield | 6.11% | 6.09% | 2 | bps | |
| 5Y Spread* | 439 | 437 | 2 | bps | |
| 10Y Bond Yield | 6.66% | 6.60% | 6 | bps | |
| 10Y Spread* | 434 | 428 | 6 | bps | |
*Between Lebanese and U.S notes
| Price | Yield | Yield Change (in bps) | |
| Nov. 2016 | 100 | 4.75% | 0 |
| Mar. 2017 | 105.13 | 5.04% | -1 |
| Oct. 2017 | 99.75 | 5.14% | 14 |
| Jun. 2018 | 99.5 | 5.36% | 0 |
| Nov. 2018 | 99.25 | 5.42% | 9 |
| Apr. 2019 | 99.75 | 5.58% | 0 |
| May. 2019 | 101 | 5.68% | 0 |
| Nov.2019 | 98.5 | 5.87% | 14 |
| Mar. 2020 | 101.75 | 5.91% | 20 |
| Apr. 2020 | 99.5 | 5.93% | 13 |
| Apr. 2021 | 109.25 | 6.21% | 5 |
| Oct. 2022 | 99 | 6.28% | 9 |
| Jan. 2023 | 97.75 | 6.39% | 4 |
| Dec. 2024 | 103.63 | 6.46% | 9 |
| Feb. 2025 | 97.75 | 6.52% | 7 |
| Jun. 2025 | 97.75 | 6.57% | 7 |
| Nov. 2026 | 99.25 | 6.70% | 3 |
| Nov. 2027 | 100 | 6.75% | 6 |
| Feb. 2030 | 97.5 | 6.93% | 6 |
