Demand for Medium Term Lebanese Eurobonds Slightly Improved on Friday
Overall appetite for medium term Lebanese Eurobonds witnessed a slight improvement on Friday which caused the BLOM Bond Index (BBI) to marginally tick up by 0.01% to 104.84 points, narrowing its year-to-date loss to 2.44%. Yield on the 10Y Lebanese Eurobonds steadied at 6.49% while that of the 5Y dropped by 2 basis points (bps) to 5.98%. In the US, demand for medium term maturities weakened causing the 5Y spread between the Lebanese Eurobonds and their U.S comparable to narrow by 4 bps to 462 bps. As for the Lebanese 5Y Credit Default Swaps (CDS), they narrowed from their previous quotes of 389-417 bps to 394-417 bps.
| Last | Previous | Change | Y-t-D Change | ||
| BBI | 104.843 | 104.834 | 0.009% | -2.44% | |
| Weighted Yield | 5.93% | 5.94% | -1 | bps | |
| Duration (Years) | 4.94 | 4.94 | |||
| 5Y Bond Yield | 5.98% | 6.00% | -2 | bps | |
| 5Y Spread* | 462 | 466 | -4 | bps | |
| 10Y Bond Yield | 6.49% | 6.49% | 0 | bps | |
| 10Y Spread* | 445 | 445 | 0 | bps | |
*Between Lebanese and U.S notes
| Price | Yield | Yield Change (in bps) | |
| Nov. 2016 | 100.4 | 4.35% | -1 |
| Mar. 2017 | 105.5 | 4.96% | 0 |
| Oct. 2017 | 99.75 | 5.13% | 0 |
| Jun. 2018 | 99.75 | 5.25% | 0 |
| Nov. 2018 | 99.5 | 5.33% | 0 |
| Apr. 2019 | 100 | 5.50% | 4 |
| May. 2019 | 101.25 | 5.57% | 0 |
| Nov.2019 | 99 | 5.72% | 0 |
| Mar. 2020 | 102.13 | 5.82% | 0 |
| Apr. 2020 | 99.75 | 5.86% | 0 |
| Apr. 2021 | 109.88 | 6.13% | -3 |
| Oct. 2022 | 99.38 | 6.21% | 0 |
| Jan. 2023 | 98.75 | 6.21% | 0 |
| Dec. 2024 | 104.13 | 6.39% | 0 |
| Feb. 2025 | 98.5 | 6.41% | 0 |
| Jun. 2025 | 98.5 | 6.46% | 0 |
| Nov. 2026 | 100 | 6.60% | 0 |
| Nov. 2027 | 100.75 | 6.66% | 0 |
| Feb. 2030 | 99 | 6.76% | 0 |
