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Costs of insuring China against debt default rise to 1-year high

LONDON, Sept 20 (Reuters) – The costs of insuring a sovereign credit default (CDS) from China jumped to a nearly a year high on Monday, nine basis points higher than about 45 basis points on Friday, according to IHS data. Markit.

Concern over the fallout from Evergrande is hurting sentiment at a time when global investors also fear the impact that will be seen as stimulus curtails by major central banks.

Other emerging market giants also saw big jumps in CDS.

Brazil’s CDS climbed 17 basis points to a five-month high of 197 basis points, while Turkey’s CDS rose 19 basis points to 406, the highest level since early June, the data showed.

(Reporting by Tom Arnold. Edited in Spanish by Janisse Huambachano)

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