July 5, 2017 / 1:36 PM / 2 months ago

Central bank nerves send South Africa CDS to 2-1/2 month high

LONDON, July 5 (Reuters) - The cost of insuring South African government debt against default hit the highest in 2-1/2 months on Wednesday, after the ruling ANC party said it wanted to nationalise the country's central bank.

Five-year credit default swaps (CDS) climbed 5 basis points to 207 bps from Tuesday's close of 202 bps, according to data provider IHS Markit.

It is the highest level since April 19 when markets were still getting over the abrupt sacking of respected finance minister Pravin Gordhan. (Reporting by Marc Jones; editing by Jamie McGeever)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below