Qatar CDS hits one-year high
The cost of insuring exposure to Qatari sovereign debt rose to a one-year high on Monday after neighbouring states, which have imposed sanctions on Qatar, issued an ultimatum, giving Doha 10 days to comply.
Five-year credit default swaps (CDS) for Qatar rose four basis points (bps) from Friday’s close to 115 bps, according to IHS Markit data, the highest level since last June.
The 13-point ultimatum to Qatar includes closing the Al Jazeera satellite television network, curbing relations with Iran, shutting a Turkish base in Doha and paying reparations.