Stagnant Demand for Lebanese Eurobonds on Friday

Demand for Lebanese Eurobonds remained unchanged on Friday as the BLOM Bond Index (BBI) steadied at 102.43 points, recording a 1.62% decline since the beginning of the year. The yields on the 5Y and 10Y Lebanese Eurobonds stagnated at Thursday’s levels of 6.64% and 6.94%, respectively. Noting that demand for medium term US notes faded, the spread between the yield on the 5Y Lebanese Eurobonds and its US equivalent narrowed by 5 basis points (bps) to 515 points. Lebanon’s 5Y Credit Default Swaps also narrowed from their previous quotes of 442-462 bps to 428-458 bps.