Lower Demand for Lebanese Eurobonds on Friday
The BLOM Bond Index (BBI) shed 0.07% to 102.59 points on Friday mainly on account of lower demand for Lebanese Eurobonds maturing in five years. While the yield on the 10 Year Lebanese Eurobonds stabilized at 6.87%, the yield on the 5-Year Lebanese Eurobonds rose by 5 basis points (bps) to 6.53%. Accordingly, the spread between the yield on the 5 Year Lebanese Eurobonds and the yield on their US comparable widened by 3 bps to 483 bps. As for the Lebanese 5Y Credit Default Swaps (CDS), they declined from their previous quotes of 411- 433 bps to 401-431 bps.
| Last | Previous | Change | Y-t-D Change | ||
| BBI | 102.592 | 102.660 | -0.066% | -4.54% | |
| Weighted Yield | 6.41% | 6.38% | 3 | bps | |
| Duration (Years) | 5.13 | 5.13 | |||
| 5Y Bond Yield | 6.53% | 6.48% | 5 | bps | |
| 5Y Spread* | 483 | 480 | 3 | bps | |
| 10Y Bond Yield | 6.87% | 6.87% | 0 | bps | |
| 10Y Spread* | 461 | 463 | -2 | bps | |
*Between Lebanese and U.S notes
| Price | Yield | Yield Change (in bps) | |
| Nov. 2016 | 99.7700 | 5.00% | 25 |
| Mar. 2017 | 104.7500 | 5.25% | 18 |
| Oct. 2017 | 99.2500 | 5.42% | 7 |
| Jun. 2018 | 99.0000 | 5.57% | 0 |
| Nov. 2018 | 98.7500 | 5.61% | 0 |
| Apr. 2019 | 99.0000 | 5.82% | 0 |
| May. 2019 | 100.0000 | 6.00% | 0 |
| Nov.2019 | 97.5000 | 6.16% | 0 |
| Mar. 2020 | 100.0000 | 6.37% | 10 |
| Apr. 2020 | 97.7500 | 6.39% | 10 |
| Apr. 2021 | 107.0000 | 6.68% | 5 |
| Oct. 2022 | 97.0000 | 6.65% | 2 |
| Jan. 2023 | 96.1300 | 6.68% | 2 |
| Nov. 2024 | 97.0000 | 6.70% | 4 |
| Dec. 2024 | 101.7500 | 6.74% | -4 |
| Feb. 2025 | 96.0000 | 6.79% | -4 |
| Jun. 2025 | 96.0000 | 6.83% | -2 |
| Nov. 2026 | 97.2500 | 6.96% | 0 |
| Nov. 2027 | 97.8800 | 7.01% | -5 |
| Nov. 2028 | 96.5000 | 7.07% | -3 |
| Feb. 2030 | 94.5000 | 7.27% | 0 |
| Nov. 2035 | 97.2500 | 7.31% | -2 |
