Bahrain CDSs peak after second protestor killed

Credit default swaps (CDS) on the sovereign debt of Bahrain climbed from a close of 242 basis points yesterday to 256 bp at 1.00 pm UK time today – higher than any previous closing price since the start of 2010 – according to market data specialist Markit.

Bahraini CDSs have traded in a narrow range of 170–180bp for the past 12 months before starting to climb at the outbreak of mass protests in Egypt on January 25. Yesterday, police in Daih, east of the country's capital, Manama, reportedly kill

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