The wild volatility gripping Lebanese hard currency bond markets has international investors keenly eyeing the soaring yields on offer. But with no clear path to market-friendly reforms in the country, trying to grab a bargain is still a trade for the brave, writes Ross Lancaster.
With mass protests, political resignations and a soaring debt stack, Lebanon’s near term future is concerning. Uncertainty has infected the country’s hard currency bond market as well, with gut wrenching spikes in yields in recent weeks.
Since late August, Lebanon’s April 2021 bonds have been trading with a