1 Min Read
LONDON, March 28 (Reuters) - The cost of insuring South African government debt against default hit the highest level in nearly eight weeks on Tuesday after President Jacob Zuma ordered his Finance Minister Pravin Gordhan to return home from an investor roadshow.
Five-year credit default swaps jumped 4 basis points to 209 bps from Monday's close of 204 bps, according to financial data provider IHS Markit.
Yields in South Africa's dollar-denominated sovereign debt rose across the curve, according to Reuters data. The yield in the 2026 issue added 5 bps to 4.6618 percent. (Reporting by Karin Strohecker, editing by Mike Dolan)