Saudi 5-year CDS jump to 11-month high

The cost of insuring exposure to Saudi Arabia’s sovereign debt jumped to the highest level in 11 months on Monday after the kingdom faced increasing international pressure over missing journalist Jamal Khashoggi.

Saudi Arabia’s 5-year credit default swaps rose to 100 basis points after closing at 89 basis points on Friday, according to data from IHS Markit.

Reuters

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Dean Popplewell

Dean Popplewell

Vice-President of Market Analysis at MarketPulse
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell