Dubai CDS down 30%; Nakheel sukuk up 113% - Emirates Business 24|7

Dubai credit default swaps (CDS), the cost to insure sovereign debt default, have declined by 30 per cent in the past four months, data shows.

Dubai CDS were trading around 458 basis points yesterday, according to CMA DataVision's Sov?ereign Risk Monitor, down 29.7 per cent from the 652bps in mid-February.

CDS are benchmarks for protecting debt against default and traders use them to speculate on credit quality. Despite the recent steady decline in the Dubai CDS rate, analysts believe the rate remains high in comparison with some of the other global sovereigns.