Progress on the Lebanese Eurobonds Market for the 3rd Session Running
Demand for Lebanese Eurobonds improved on Tuesday for the third consecutive session, which caused the BLOM Bond Index (BBI) to increase by 0.12% to 105.18 points, narrowing its year-to-date loss to 2.13%. Yields on the 5Y and 10Y Lebanese Eurobonds dropped by 2 basis points (bps) and 3 bps to 5.91% and 6.42%, respectively. In the US, demand for medium term maturities regressed, causing the 5Y spread between the Lebanese Eurobonds and their U.S comparable to tighten by 7 bps to 451 bps. As for the Lebanese 5Y Credit Default Swaps (CDS), they slightly narrowed from their previous quotes of 394-417 bps to 387-410 bps.
| Last | Previous | Change | Y-t-D Change | ||
| BBI | 105.181 | 105.056 | 0.119% | -2.13% | |
| Weighted Yield | 5.86% | 5.90% | -4 | bps | |
| Duration (Years) | 4.94 | 4.94 | |||
| 5Y Bond Yield | 5.91% | 5.93% | -2 | bps | |
| 5Y Spread* | 451 | 458 | -7 | bps | |
| 10Y Bond Yield | 6.42% | 6.45% | -3 | bps | |
| 10Y Spread* | 434 | 441 | -7 | bps | |
*Between Lebanese and U.S notes
| Price | Yield | Yield Change (in bps) | |
| Nov. 2016 | 100.4 | 4.35% | 0 |
| Mar. 2017 | 105.75 | 4.75% | -19 |
| Oct. 2017 | 100 | 5.00% | -13 |
| Jun. 2018 | 100 | 5.15% | -10 |
| Nov. 2018 | 99.75 | 5.24% | -9 |
| Apr. 2019 | 100 | 5.50% | 0 |
| May. 2019 | 101.5 | 5.53% | -4 |
| Nov.2019 | 99.13 | 5.69% | 0 |
| Mar. 2020 | 102.25 | 5.78% | 0 |
| Apr. 2020 | 100 | 5.80% | 0 |
| Apr. 2021 | 110.38 | 6.00% | -5 |
| Oct. 2022 | 99.88 | 6.12% | -2 |
| Jan. 2023 | 99 | 6.17% | 0 |
| Dec. 2024 | 104.63 | 6.32% | -2 |
| Feb. 2025 | 98.88 | 6.36% | 0 |
| Jun. 2025 | 99 | 6.39% | -2 |
| Nov. 2026 | 100.63 | 6.52% | -3 |
| Nov. 2027 | 101.25 | 6.60% | -1 |
| Feb. 2030 | 99.25 | 6.73% | 0 |
