Ukraine CDS widens but will it default?

By Hazel Sheffield
13 Nov 2014

Geopolitical risk was all the rage earlier this year, and played a major part in credit spreads widening in several short, sharp bursts. Monetary policy soon resumed its role as the main driver of sentiment, but there were indications this week that it may have to move aside again.

By Gavan Nolan, director of credit at Markit

Ukraine saw its CDS spreads widen 125bp on November 12, and those spreads are now at their widest levels since December 2009. Prices in the cash market also collapsed, a reflection of renewed concerns that the conflict with Russia ...

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