Thai Default Risk Soars as Funds Pull $4 Billion – businessweek.com, January 19, 2014
…Credit-default swaps insuring Thai debt against non-payment for five years rose to 153 on Jan. 14 in New York, the highest level since Aug. 28, according to CMA prices. The spread has widened 42 basis points since anti-government protest broke out on Oct. 31, compared with increases of 22 basis points for Indonesia and 17 basis points for the Philippines.
The cost of protecting Thailand’s debt may reach 200, the highest since November 2011, from 148 on Jan. 16, according to Nordea Markets, a unit of northern Europe’s biggest financial group, which had about 228 billion euros ($310 billion) of assets under management as of Sept. 30…
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