Egyptian risk perception up again as Mubarak steps down

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Five-year credit default swaps (CDS) on Egyptian sovereign debt widened sharply today, going from 339 basis points at close of trading yesterday to 364bp at 16:00 today, according to market data provider Markit. The rise came as mounting protests forced Egyptian president Hosni Mubarak to resign shortly after 16:00 London time today. Elsewhere in the region, Israel's sovereign CDSs went from 140bp to 152bp, Bahrain climbed from 233bp to 240bp, and Tunisian central bank CDSs widened from 172bp

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