S. Africa CDS at multi-yr highs, Russia, Turkey CDS also rise

January 18, 2016 11:31 AM

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LONDON Jan 18 The cost of insuring exposure to South African debt ballooned out to its widest point in almost seven years on Monday as key commodities came under selling pressure and concerns about global economic growth rose.

Data from Markit showed that five-year credit default swaps (CDS) for South Africa rose to 380 basis points (bps) on Monday, the highest since March 2009, and up 3 bps from Friday's close.

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