November 12, 2018 / 1:56 PM / a month ago

UK CDS rise to 30 bps, closing levels last seen in March 2017 - IHS Markit

LONDON, Nov 12 (Reuters) - The cost of insuring exposure to British sovereign debt rose on Monday to a level last seen at close in March 2017 on rising uncertainty over the country’s plan to leave the European Union.

Five-year credit default swaps (cds) rose 1 basis point (bps) from Friday’s close to 30 bps, according to data from IHS Markit.

Prime Minister Theresa May’s Brexit strategy came under attack from all sides on Monday, increasing the risk that her plan for leaving the EU will be voted down by parliament and thrust the United Kingdom towards a potentially chaotic “no-deal” Brexit.

Reporting by Karin Strohecker, editing by Sujata Rao

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