Egyptian CDS spreads widen as protests continue

The cost of insuring against Egyptian sovereign debt rose to its highest level since June 2009 today, as large street protests against president Hosni Mubarak’s rule continued in many cities across the country. Five-year credit default swap (CDS) spreads on Egyptian government debt widened from 331 basis points at close of play yesterday to 359bp by 1.00pm today, according to financial data provider Markit. The continuing political instability in Tunisia, where the current wave of north African

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