June 9, 2017 / 9:07 AM / a year ago

Qatar, Saudi CDS at fresh multi-mth highs-Markit

LONDON, June 9 (Reuters) - The cost of insuring exposure to Qatari sovereign debt rose to 101 basis points on Friday - a fresh seven-month high - as a diplomatic crisis continued.whilst the cost for Saudi Arabia touched new four-month highs.

Five year credit default swaps for Qatar rose four basis points (bps) from Thursday’s close to the highest since mid-November, according to data from IHS Markit.

They are up 44 basis points since the start of the week when several Arab countries including Saudi Arabia and the United Arab Emirates severed diplomatic relations with Qatar, suspended air, land and sea transport, and imposed travel bans.

Five year credit default swaps for Saudi Arabia also rose 4 bps from Thursday’s close to 107 bps, the highest level since early February. They are up 18 basis points from the start of the week. (Reporting by Claire Milhench)

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