June 8, 2018 / 8:13 AM / 2 months ago

Italian CDS jump 17 basis points to highest since May 30

LONDON, June 8 (Reuters) - The cost of insuring exposure to Italy’s sovereign debt jumped on Friday due to broad-based risk aversion in world markets and unease about Rome’s spending plans, prompting a sell off in Italy’s government bonds.

Italian five-year credit default swaps (CDS) leapt 17 basis points (bps) from Thursday’s close to 261 bps, their highest level since May 30, according to data from IHS Markit.

The CDS are up 59 bps since the open on Monday, putting them on course for their worst week since May 25. (Reporting by Claire Milhench, editing by Karin Strohecker)

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