Demand Improved for Medium Term Lebanese Eurobonds Last Friday
Demand for short and medium term Lebanese Eurobonds experienced some improvement on Friday, pulling the BLOM Bond Index (BBI) up by a 0.1% to 104.90 points. Yield on the 10Y Lebanese Eurobonds steadied at 6.48% for the seventh consecutive session, while that of the 5Y dropped by 6 basis points (bps) to 5.94%. In the US, demand for medium-term maturities declined, narrowing the 5Y spread between the Lebanese Eurobonds and their U.S comparable by 7 basis points (bps) to 453 bps. As for the Lebanese 5Y Credit Default Swaps (CDS), they went from 395-405 bps to 390-413 bps.
| Last | Previous | Change | Y-t-D Change | ||
| BBI | 104.899 | 104.786 | 0.108% | -2.39% | |
| Weighted Yield | 5.93% | 5.96% | -3 | bps | |
| Duration (Years) | 4.93 | 4.93 | |||
| 5Y Bond Yield | 5.94% | 6.00% | -6 | bps | |
| 5Y Spread* | 453 | 460 | -7 | bps | |
| 10Y Bond Yield | 6.48% | 6.48% | 0 | bps | |
| 10Y Spread* | 436 | 436 | 0 | bps | |
*Between Lebanese and U.S notes
| Price | Yield | Yield Change (in bps) | |
| Nov. 2016 | 100.4 | 4.36% | 0 |
| Mar. 2017 | 105.5 | 5.10% | -9 |
| Oct. 2017 | 100 | 5.13% | -13 |
| Jun. 2018 | 99.75 | 5.35% | -10 |
| Nov. 2018 | 99.5 | 5.41% | -9 |
| Apr. 2019 | 100 | 5.50% | 0 |
| May. 2019 | 101.25 | 5.69% | -8 |
| Nov.2019 | 99 | 5.76% | -3 |
| Mar. 2020 | 102.13 | 5.82% | 0 |
| Apr. 2020 | 99.75 | 5.86% | 0 |
| Apr. 2021 | 110 | 6.14% | -5 |
| Oct. 2022 | 99.5 | 6.23% | -4 |
| Jan. 2023 | 99 | 6.17% | 0 |
| Dec. 2024 | 104.25 | 6.38% | 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 |
