Egypt's Debt Insurance Costs Hit 3-1/2 Year HighSource: Ahram Online 6/24/2012, Location: Africa |
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The cost of insuring Egypt's debt against default soared to its highest level in three and a half years late last week, as official results from the country's presidential election saw further delays. Egypt's five-year credit default swaps rose 46 basis points to 715 bps, according to Markit, a financial information services firm. The result of Egypt's presidential election runoff will be announced at 3pm on Sunday.
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