October 29, 2019 / 8:35 AM / a month ago

Lebanon bond selloff sees shorter-dated yields top 30%

LONDON, Oct 29 (Reuters) - Lebanon’s sovereign dollar-bonds suffered fresh falls on Tuesday in the wake of a stark central bank warning, with yields of issues maturing in the next 18-months climbing to around 30%.

The 2021 issue dropped 1 cent to a record low of 75.29 cents in the dollar, according to Tradeweb data, with yields at 30.1%.

Lebanon’s central bank governor said on Monday a solution must be found in days to a crisis unleashed by huge protests against the ruling elite, saying this would restore confidence and avoid any future economic collapse.

The crisis has paralysed Lebanon, closing banks for a tenth working day with schools and some businesses remaining shuttered. (Reporting by Karin Strohecker, editing by Mike Dolan)

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