November 14, 2018 / 10:16 AM / a year ago

Italian sovereign, bank CDS rise after Rome re-submits budget

LONDON, Nov 14 (Reuters) - The cost of insuring exposure to debt issued by Italy’s government and the country’s banks rose on Wednesday after Rome re-submitted its draft budget for next year to the European Commission, setting the stage for a showdown with Brussels.

Italy’s five-year credit default swaps (CDS) jumped 7 basis points from Tuesday’s close to a near four-week high of 279 bps, according to data from IHS Markit.

Italian banks also felt the pressure, with CDS of the country’s top lender UniCredit adding 3 bps from Tuesday’s close to hit a two-week high of 190 bps, while Intesa Sanpaolo CDS climbed 2 bps to 195 bps.

Reporting by Karin Strohecker, Editing by Abhinav Ramnarayan

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