Spreading protests send Moroccan CDSs higher

Credit default swaps (CDS) on the sovereign debt of Morocco climbed sharply this morning, up nine basis points to 198bp at 1.00pm UK time today as protests continued in the north African state. After several deaths at the weekend, it has reportedly been more peaceful in Morocco today and yesterday, but large-scale protests were reported in six major cities.

Elsewhere in the region, Bahraini CDS spreads narrowed slightly from yesterday's close of 318bp, trading at 315bp at 1.00pm today, according

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