Middle East CDS markets steady despite Egyptian cabinet reshuffle

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Despite the escalating conflict between pro-government and rebel forces in Libya, risk perceptions across the Middle East and north Africa region showed signs of stabilising today, after several weeks of intense volatility.

In Egypt, despite the resignation of prime minister Ahmed Shafiq this morning, credit default swap (CDS) spreads narrowed from 370 basis points at the close of trading yesterday to 369bp by 1.00pm today, according to financial information provider Markit. In recent days

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