October 30, 2019 / 9:02 AM / 19 days ago

Lebanon CDS fall 120 basis points after Hariri resignation

LONDON, Oct 30 (Reuters) - The cost of insuring exposure to Lebanese sovereign debt fell on Wednesday after Saad al-Hariri resigned as prime minister, declaring he had hit a “dead end” in trying to resolve a crisis unleashed by huge protests.

Five-year Lebanon credit default swaps declined 120 basis points (bps) from Tuesday’s close to 1,455 bps, IHS Markit data showed. (Reporting by Karin Strohecker; Editing by Tom Arnold)

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