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Lebanon bonds fall, CDS jump after surprise PM resignation
November 6, 2017 / 10:27 AM / a month ago

Lebanon bonds fall, CDS jump after surprise PM resignation

LONDON, Nov 6 (Reuters) - Lebanese dollar bonds fell across the curve and credit default swaps jumped on Monday, after Prime Minister Saad al-Hariri’s surprise resignation over the weekend threw the country into a fresh political crisis.

The 2022 bond fell 2.750 cents to trade at 96.950 cents - its lowest level since the start of the year, according to Thomson Reuters data.

Insuring exposure to Lebanese debt hit its most costly since early January too, with Lebanon 5-year credit default swaps up 10 bps from Friday’s close to 479 bps according to IHS Markit. (Reporting by Karin Strohecker; editing by Marc Jones)

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