July 1, 2019 / 8:51 AM / 3 months ago

China 5-year CDS fall after China-U.S. trade talks to resume

LONDON, July 1 (Reuters) - The cost of insuring exposure to China’s sovereign debt fell by 3 basis points (bps) on Monday after the United States and China agreed on Saturday to restart trade talks, while Turkey CDS also declined.

China 5-year credit default swaps (CDS) dropped to 41 basis points from Friday’s close of 44 bps, according to data from IHS Markit.

Meanwhile, Turkey 5-year CDS slipped 14 bps over the same period to 384 bps, its lowest since early April, according to IHS Markit data, after President Tayyip Erdogan said he had heard from U.S. President Donald Trump there would be no sanctions over Turkey’s purchase of Russian S-400 defence systems. (Reporting By Tom Arnold, editing by Karin Strohecker)

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