February 21, 2017 / 9:45 AM / 6 months ago

Cost of insuring French debt against default at highest since 2013

LONDON, Feb 21 (Reuters) - The cost of insuring French government debt against default rose on Tuesday to its highest level in more than three years on heightened concerns about an unpredictable presidential race in the euro zone's second-biggest economy.

Five-year credit default swaps (CDS) on French government debt rose to around 67 bps, according to data from Markit, the financial information services company.

There is about a 5.5 percent probability of a French default within five years, according to the Markit data. That compares with 3 percent at the start of February. (Reporting by Dhara Ranasinghe, editing by Nigel Stephenson)

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