Demand for Medium-Term Lebanese Eurobonds Weakened on Wednesday
Demand for medium term Lebanese Eurobonds regressed on Wednesday which offset the mixture in demand for long term ones. Accordingly, the BLOM Bond Index (BBI) slipped slightly by 0.008% to 107.12 points. The yield on the 10Y Lebanese Eurobonds steadied at 6.22% while that of the 5Y went up by 1 basis point (bp) to 5.34%. The spread between the yield on the 5Y Lebanese Eurobonds and its US counterpart tightened by 4 bps to 369 bps as the demand for medium-term US notes fell at a faster pace than that of the 5Y Lebanese Eurobonds. Meanwhile, the Lebanese 5Y Credit Default Swaps (CDS) drifted from a range of 353-381 bps to 350-383 bps.
| Last | Previous | Change | Y-t-D Change | ||
| BBI | 107.116 | 107.125 | -0.008% | -0.33% | |
| Weighted Yield | 5.48% | 5.47% | 0 | bps | |
| Duration (Years) | 5.07 | 5.08 | |||
| 5Y Bond Yield | 5.34% | 5.33% | 1 | bps | |
| 5Y Spread* | 369 | 373 | -4 | bps | |
| 10Y Bond Yield | 6.22% | 6.22% | 0 | bps | |
| 10Y Spread* | 394 | 399 | -5 | bps | |
*Between Lebanese and U.S notes
| Price | Yield | Yield Change (in bps) | |
| Nov. 2016 | 100.89 | 4.00% | 0 |
| Mar. 2017 | 107.35 | 4.26% | 0 |
| Oct. 2017 | 101.13 | 4.45% | 0 |
| Jun. 2018 | 101.45 | 4.60% | 0 |
| Nov. 2018 | 101.18 | 4.75% | 0 |
| Apr. 2019 | 101.38 | 5.09% | 4 |
| Mar. 2020 | 104 | 5.38% | 3 |
| Apr. 2020 | 101.63 | 5.40% | 3 |
| Apr. 2021 | 113 | 5.55% | 0 |
| Oct. 2022 | 101.88 | 5.77% | 0 |
| Jan. 2023 | 101 | 5.83% | 0 |
| Dec. 2024 | 106.88 | 6.02% | 0 |
| Feb. 2025 | 100.75 | 6.09% | 2 |
| Nov. 2026 | 102.75 | 6.26% | -3 |
| Nov. 2027 | 103.75 | 6.31% | -3 |
| Feb. 2030 | 101.5 | 6.49% | 0 |
