Egyptian 5-Yr CDS Rise 23 Bps to 782 Bps-Markit

Egyptian debt insurance costs rose on Monday, with five-year credit default swaps jumping 23 basis points from Friday’s close to the highest since July 2, according to data from Markit.

The CDS traded at 782 basis points amid escalating political turmoil.

Dozens of people were shot dead on Saturday by security forces near a mosque where supporters of the Muslim Brotherhood had mounted a vigil demanding the reinstatement of deposed President Mohamed Morsi.

Several thousand supporters of Egypt’s ousted Islamist president began marching on a military facility in Cairo on Monday in defiance of an army warning to stay away, risking a new confrontation.

Source: Reuters