Thai CDS spreads blow out on military coup

The political crisis in Thailand has rattled Asian markets, sending credit default swap (CDS) spreads on Thai sovereign bonds out to more than 50 basis points on Wednesday from 36bp a day earlier.

Asian markets woke up to shocking headlines of a military coup in Thailand against prime minister Thaksin Shinawatra, while he was away in New York. Army tanks had reportedly surrounded Thaksin’s office in Bangkok, while the military also seized control of television stations. An announcement on na

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