May 18, 2018 / 8:18 AM / 3 months ago

Italian CDS at highest since Jan on unease over parties' govt agenda

LONDON, May 18 (Reuters) - Italian debt insurance costs hit the highest level in more than four months on Friday after markets grew nervous over the government programme of Italy’s two anti-establishment parties.

Sovereign five-year credit default swaps traded at 113 basis points (bps), up 1 bps from Thursday’s close and 20 bps over the last week, according to data from IHS Markit.

The programme of Italy’s two anti-establishment parties includes the issuance of short-term government bonds to pay companies owed money by the state. (Reporting by Karin Strohecker; Editing by Dhara Ranasinghe)

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