Subdued Demand for Lebanese Eurobonds on Thursday
Appetite for Lebanese Eurobonds market slightly eased on Thursday, as illustrated by the 0.01% daily drop in the BLOM Bond Index (BBI) to 103.91 points. The Lebanese gauge saw its year to date loss widening to 3.31% despite the positive vibes deriving from the long awaited meeting of the Lebanese parliament. Yields on the 5Y and 10Y Lebanese Eurobonds augmented by 4 basis points (bps) and 3 bps to 6.15% and 6.69%, respectively. As demand for medium term maturities in the U.S. stagnated at 1.73% yesterday, the spread between the yields of the 5Y Lebanese Eurobonds and their U.S. counterpart broadened by 4 bps to 442 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 | 103.913 | 103.925 | -0.012% | -3.31% | |
| Weighted Yield | 6.11% | 6.11% | 0 | bps | |
| Duration (Years) | 4.86 | 4.86 | |||
| 5Y Bond Yield | 6.15% | 6.11% | 4 | bps | |
| 5Y Spread* | 442 | 438 | 4 | bps | |
| 10Y Bond Yield | 6.69% | 6.66% | 3 | bps | |
| 10Y Spread* | 437 | 434 | 3 | bps | |
*Between Lebanese and U.S notes
| Nov. 2016 | 100 | 4.75% | 0 |
| Mar. 2017 | 105.13 | 5.03% | -1 |
| Oct. 2017 | 99.63 | 5.20% | -7 |
| Jun. 2018 | 99.38 | 5.41% | 5 |
| Nov. 2018 | 99 | 5.52% | 0 |
| Apr. 2019 | 99.5 | 5.66% | 8 |
| May. 2019 | 100.5 | 5.84% | 16 |
| Nov.2019 | 98.25 | 5.94% | -7 |
| Mar. 2020 | 101.38 | 6.01% | -10 |
| Apr. 2020 | 99.13 | 6.03% | -3 |
| Apr. 2021 | 109 | 6.26% | 0 |
| Oct. 2022 | 98.5 | 6.37% | 0 |
| Jan. 2023 | 97.75 | 6.39% | -4 |
| Dec. 2024 | 103.13 | 6.54% | -2 |
| Feb. 2025 | 97.13 | 6.62% | 2 |
| Jun. 2025 | 97.25 | 6.64% | 0 |
| Nov. 2026 | 98.63 | 6.78% | 5 |
| Nov. 2027 | 99.38 | 6.83% | 1 |
| Feb. 2030 | 97 | 6.98% | 0 |
