Hungary debt insurance costs drop to lowest level since early January
Default insurance costs on Hungary's sovereign debt on Wednesday dropped to the lowest level since early January. According to S&P Capital IQ's CMA, a major CDS market data monitor in London, Hungary's benchmark five-year credit default swaps (CDS) traded around 265 bp on Wednesday, down a sharp 10 bp from the previous close. A CDS contract valued at 265 bp means that the cost to insure every €10 million worth of sovereign FX bond exposure against default is now around €265,000 a year for the benchmark five-year maturity.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.