Turkey, South Africa debt insurance costs rise
LONDON Jan 29 (Reuters) - Turkey and South Africa's debt insurance costs rose on Wednesday as rate hikes failed to boost confidence in these countries' financial markets.
Turkey's five-year credit default swaps rose 6 basis points from Tuesday's close to 257 bps, according to Markit, reversing an earlier drop made on hefty overnight rate rises.
The yield on Turkey's $2.5 billion bond launched last week rose to 5.929 percent, above launch levels of 5.85 percent.
South Africa's 5-year CDS rose 10 bps to five-month highs of 231 bps after the central bank announced a 50 basis point rate hike.
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