LONDON, June 9 The cost of insuring exposure to
Qatari sovereign debt rose to 101 basis points on Friday - a
fresh seven-month high - as a diplomatic crisis continued.whilst
the cost for Saudi Arabia touched new four-month highs.
Five year credit default swaps for Qatar
rose four basis points (bps) from Thursday's close to the
highest since mid-November, according to data from IHS Markit.
They are up 44 basis points since the start of the week when
several Arab countries including Saudi Arabia and the United
Arab Emirates severed diplomatic relations with Qatar, suspended
air, land and sea transport, and imposed travel bans.
Five year credit default swaps for Saudi Arabia
also rose 4 bps from Thursday's close to 107
bps, the highest level since early February. They are up 18
basis points from the start of the week.
(Reporting by Claire Milhench)