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Spanish CDS hits near five-month high on Catalan tensions
October 3, 2017 / 9:48 AM / 2 months ago

Spanish CDS hits near five-month high on Catalan tensions

LONDON, Oct 3 (Reuters) - The cost of insuring exposure to Spanish sovereign debt rose on Tuesday to a near five-month high as protests continued in Catalonia after Sunday’s illegal independence referendum.

Data from IHS Markit showed five-year credit default swaps for Spain rose 1 basis point from Monday’s close to 70 bps, the highest level since June 8 and up 16 bps from a trough of 54 bps on Sept. 19.

Results showed Catalan voters overwhelmingly backed independence in the referendum, which Spain has ruled illegal and which opponents of secession mostly boycotted.

Reporting by Claire Milhench, editing by Nigel Stephenson

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