May 14, 2018 / 3:09 PM / 7 months ago

Italian cds hit highest in nearly 4 weeks as 5-Star, League near deal

LONDON, May 14 (Reuters) - The cost of insuring exposure to Italian sovereign debt rose to the highest level in nearly four weeks on Monday as the country’s 5-Star Movement and League neared a deal to form a government.

Italian 5-year credit default swaps added 2 basis points (bps) from Friday’s close to widen to 97 bps, according to data from IHS Markit.

A deal between the two parties would end a 10-week political stalemate, though also bring together two parties with very different election platforms which both want to challenge Europe’s rigid budget rules and boost spending. (Reporting by Karin Strohecker, editing by Sujata Rao)

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