November 15, 2018 / 4:16 PM / a month ago

UK CDS jump to near-two year high on Brexit turmoil -IHS Markit

LONDON, Nov 15 (Reuters) - The cost of insuring exposure to Britain’s sovereign debt rose to its highest level in almost two years on Thursday as political turmoil in the country over its exit from the European Union ripped through UK currency, bond and equity markets.

Five-year credit default swaps (CDS) jumped 3 basis points (bps) from Wednesday’s close to 34 bps - the highest level since December 2016, data from IHS Markit showed.

British Prime Minister Theresa May battled on Thursday to save a draft divorce deal with the bloc after her Brexit secretary and other ministers quit in protest and eurosceptic lawmakers stepped up efforts to topple her. (Reporting by Karin Strohecker; Editing by Dhara Ranasinghe)

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