Demand for Long Term Lebanese Eurobonds Fell on Friday
Appetite for long term Lebanese Eurobonds weakened during the last session of the week, which caused the BLOM Bond Index (BBI) to drop by 0.11% to 104.58 points, and to broaden its year-to-date loss to 2.69%. The Yield on the 10Y Lebanese Eurobonds went up by 3 basis points (bps) to 6.54% while that of the 5Y remained at Thursday’s level of 6.02%, respectively. Demand for medium term maturities in the U.S. regressed significantly leading the 5Y spread between the Lebanese Eurobonds and their U.S counterpart to narrow by 8 bps to 429 bps. As for the Lebanese 5Y Credit Default Swaps (CDS), they slightly tightened from 392-417 bps to 391-416 bps.
| Last | Previous | Change | Y-t-D Change | ||
| BBI | 104.584 | 104.696 | -0.107% | -2.69% | |
| Weighted Yield | 5.98% | 5.96% | 2 | bps | |
| Duration (Years) | 4.88 | 4.88 | |||
| 5Y Bond Yield | 6.02% | 6.02% | 0 | bps | |
| 5Y Spread* | 429 | 437 | -8 | bps | |
| 10Y Bond Yield | 6.54% | 6.51% | 3 | bps | |
| 10Y Spread* | 420 | 425 | -5 | bps | |
*Between Lebanese and U.S notes
| Price | Yield | Yield Change (in bps) | |
| Nov. 2016 | 100.24 | 4.50% | 14 |
| Mar. 2017 | 105.25 | 4.99% | 9 |
| Oct. 2017 | 99.75 | 5.14% | 0 |
| Jun. 2018 | 99.75 | 5.25% | 0 |
| Nov. 2018 | 99.5 | 5.33% | 0 |
| Apr. 2019 | 100 | 5.50% | 0 |
| May. 2019 | 101 | 5.68% | 8 |
| Nov.2019 | 98.75 | 5.80% | 4 |
| Mar. 2020 | 102 | 5.84% | 3 |
| Apr. 2020 | 99.75 | 5.86% | 0 |
| Apr. 2021 | 109.5 | 6.17% | 5 |
| Oct. 2022 | 99.5 | 6.19% | 2 |
| Jan. 2023 | 98.63 | 6.24% | 0 |
| Dec. 2024 | 104.25 | 6.38% | 2 |
| Feb. 2025 | 98.5 | 6.41% | 2 |
| Jun. 2025 | 98.5 | 6.46% | 4 |
| Nov. 2026 | 99.88 | 6.61% | 0 |
| Nov. 2027 | 100.63 | 6.67% | 0 |
| Feb. 2030 | 98.5 | 6.81% | -1 |
