Appetite for Medium Term Lebanese Eurobonds Weakened During Last Friday’s Session
Demand for medium term Lebanese Eurobonds faded on Friday, as illustrated by the 0.08% daily drop in the BLOM Bond Index (BBI) to 103.83 points. Yield on the 10Y Lebanese Eurobonds steadied at Thursday’s level of 6.69% while that of the 5Y increased by 7 basis points (bps) to 6.22%. As demand for medium term maturities in the U.S. improved, the spread between the yields of the 5Y Lebanese Eurobonds and their U.S. counterpart broadened by 13 bps to 455 bps. As for the Lebanese 5Y Credit Default Swaps (CDS), they widened from their previous quotes of 392-417 bps to 398-418 bps.
| Last | Previous | Change | Y-t-D Change | ||
| BBI | 103.826 | 103.913 | -0.084% | -3.39% | |
| Weighted Yield | 6.13% | 6.11% | 2 | bps | |
| Duration (Years) | 4.85 | 4.86 | |||
| 5Y Bond Yield | 6.22% | 6.15% | 7 | bps | |
| 5Y Spread* | 455 | 442 | 13 | bps | |
| 10Y Bond Yield | 6.69% | 6.69% | 0 | bps | |
| 10Y Spread* | 441 | 437 | 4 | bps | |
*Between Lebanese and U.S notes
| Price | Yield | Yield Change (in bps) | |
| Nov. 2016 | 100 | 4.75% | 0 |
| Mar. 2017 | 105.13 | 5.02% | -1 |
| Oct. 2017 | 99.63 | 5.20% | 0 |
| Jun. 2018 | 99.38 | 5.41% | 0 |
| Nov. 2018 | 99 | 5.52% | 0 |
| Apr. 2019 | 99.5 | 5.66% | 0 |
| May. 2019 | 100.5 | 5.84% | 0 |
| Nov.2019 | 98.13 | 5.98% | 3 |
| Mar. 2020 | 101.25 | 6.04% | 3 |
| Apr. 2020 | 99 | 6.06% | 3 |
| Apr. 2021 | 108.75 | 6.31% | 5 |
| Oct. 2022 | 98.38 | 6.39% | 2 |
| Jan. 2023 | 97.5 | 6.44% | 4 |
| Dec. 2024 | 103 | 6.55% | 2 |
| Feb. 2025 | 97.13 | 6.62% | 0 |
| Jun. 2025 | 97.13 | 6.66% | 2 |
| Nov. 2026 | 98.63 | 6.78% | 0 |
| Nov. 2027 | 99.38 | 6.83% | 0 |
