Factsheets Back
30 . 11 . 2017
Market Overview


November was a hectic month for the local fixed income market; Political tension in Lebanon and the region had a direct impact on bond prices pushing Lebanese Government Eurobonds offer prices for medium to long term maturities to multi-year lows, declining approximately 7 to 8%. In parallel, Lebanon CDS prices for 5 and 10 year maturities skyrocketed to new highs, increasing by around 50+ bps and breaking the 600 levels, before slightly retreating at month-end. The situation has been softly stabilizing for the past few days, reducing the pressure on Eurobond prices and capital outflow from the country. In the GCC region, 5 years CDS levels for all members remained more or less around their previous levels. Emirates NBD Bank issued USD 750 mln of Eurobonds maturing in 5 years @ 3.25%.