October 8, 2019 / 10:20 AM / a month ago

Turkey CDS climb on Syria concerns, Trump threat to "obliterate" economy

LONDON, Oct 8 (Reuters) - The cost of insuring exposure to Turkey’s sovereign debt climbed 8 basis points on Tuesday amid investor caution about a planned military operation by Turkish forces in northeastern Syria.

Turkey’s five-year credit default swaps (CDS) rose to 384 bps, up from 376 bps at the end of trading on Monday, according to IHS Markit data.

Adding to the jitters was a warning late on Monday by U.S. President Donald Trump that he would “obliterate” the Turkish economy if the country took action he considered “off limits” following his decision on Sunday to pull 50 American special forces troops from the region. (Reporting by Tom Arnold; editing by Marc Jones)

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