No CDS spread spillover from Ukraine crisis

Default risks for Russia and Ukraine have risen 20% during crisis

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The territorial tug-of-war between Russia and Ukraine has forced up their perceived default risks by around 20%, but surrounding countries remain unaffected, according to credit default swap (CDS) spreads for the region's sovereigns.

Ukraine's five-year CDS spread jumped 18% from 1,032 basis points on February 28 to 1,218bp on March 3, according to data providing by Markit. The spread dipped to 1,069bp on March 4 before climbing through last week to finish at 1,137bp on March 7. That is 60% high

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