The cost of insuring Bahraini sovereign debt against default for five years jumped to its highest since late-July 2009 on Tuesday as investor worries intensified following the arrival of Saudi troops on the strategic island kingdom.
Bahrain five-year credit default swaps (CDS) spiked 24 basis points higher to 333 bps, according to data from Markit.
About 1,000 Saudi troops entered Bahrain on Monday to protect government facilities as part of an effort by the six-nation Gulf Cooperation Council to help the government cope with pro-democracy demonstrators.
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