Turkey’s CDS.

Kathimerini English - - Focus -

The cost of in­sur­ing ex­po­sure to Turk­ish debt rose yes­ter­day to the high­est level in two weeks af­ter rat­ings agency Moody’s cut the sov­er­eign’s out­look to neg­a­tive from sta­ble af­ter mar­kets closed on Fri­day. Data from IHS Markit showed that five-year credit de­fault swaps for Turkey rose 21 ba­sis points from Fri­day’s close to 243 bps, the high­est level since March 3. Moody’s cited the con­tin­u­ing ero­sion of Turkey’s in­sti­tu­tional strength as a fac­tor in the cut.

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