CDS spreads rise in Egypt and Saudi Arabia

Egyptian credit default swap (CDS) spreads continued to behave erratically today as the country's political situation remains on a knife edge. Although Tunisian popular protests in early January sparked the wave of unrest that has rocked the Arab world, the mass demonstrations seen in many Egyptian cities have quickly become its epicentre. Egyptian spreads have seen several sharp movements during this period, and rose from 353 basis points at close of play yesterday to 365bp by 1.00pm today. In

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