Turkish CDS climb following death of Turkish soldiers in Syria


The cost of insuring exposure to Turkey’s sovereign debt climbed to a four-month high of 351 basis points yesterday as tensions in the region escalated following the death of 33 Turkish soldiers in an air strike in Syria.

Turkey’s five-year credit default swaps (CDS) added 25 bps from Thursday’s close, according to IHS Markit data.

The Turkish Capital Markets Board also said it had banned short selling on all stocks listed on the Istanbul stock exchange yesterday.