Egyptian CDS surge to 3-yr high ahead of election
Egyptian CDS surge to 3-yr high ahead of election
LONDON (Reuters) - Egyptian debt insurance costs surged 28 basis points on Friday to their highest in more than three years ahead of an election that looks certain to plunge the countrys political transition into fresh turmoil. Data from Markit showed Egyptian five-year credit default swaps rising to 650 basis points, the highest since March 2009. Egypts supreme court dissolved parliament on Thursday in a shock ruling that kept Ahmed Shafik, former leader Hosni Mubaraks last premier, in the weekend presidential race, effectively dashing hopes for a peaceful democratic transition. ...
//news.yahoo.com/egyptian-cds-surge-3-yr-high-ahead-election-092806098--finance.html
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