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Qatar CDS hit 16-mth high, Saudi highest since Jan -IHS Markit
June 30, 2017 / 9:57 AM / 5 months ago

Qatar CDS hit 16-mth high, Saudi highest since Jan -IHS Markit

LONDON, June 30 (Reuters) - The cost of insuring exposure to Qatari debt rose on Friday to a fresh 16-month high as the diplomatic crisis that has isolated the tiny Gulf state rumbled on.

Qatar five-year credit default swaps (CDS) rose 2 basis points (bps) from Thursday’s close to 123 bps, the highest since February 2016, according to data from HIS Markit.

Saudi Arabia five-year CDS also rose 2 bps to 114 bps, the highest since January.

Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut diplomatic ties with Qatar on June 5 and imposed economic sanctions, accusing it of funding terrorism - a claim Qatar rejects. (Reporting by Claire Milhench, editing by Karin Strohecker)

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