January 27, 2020 / 5:18 PM / 2 months ago

China CDS jump to highest in more than three months on virus worries

LONDON, Jan 27 (Reuters) - The cost of insuring exposure to China’s sovereign debt rose to its highest level since mid-October amid rising fears about the possible economic impact of the coronavirus outbreak.

China 5-year credit default swaps (CDS) jumped by 4 basis points (bps) from Friday’s close to 41 bps, data from IHS Markit showed. The CDS closed at 30 bps a week ago.

Much of the outbreak has centred on the city of Wuhan which has been in a lockdown since last week. The virus has killed 81 people and stranded tens of millions during the biggest holiday of the year. (Reporting by Karin Strohecker; editing by Sujata Rao)

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