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Yields of 100% Push Lebanon’s Bonds Into Venezuela Territory

  • Rate on $1.2 billion of bonds due in March rises to 103%
  • Crisis worsened on Tuesday as protesters blocked parliament
LEBANON-POLITICS-DEMO

Photographer: Patrick Baz/AFP via Getty Images

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The political crisis in Lebanon has sent yields on some of its dollar bonds into triple digits.

Rates on the government’s $1.2 billion of notes maturing in March next year have climbed 28 percentage points this week to 105%. They were at 13% five weeks ago, just before the start of protests that led to the resignation of Prime Minister Saad Hariri and exacerbated the nation’s economic woes.