Bahrain’s credit default swaps surpass 2016 peak when oil cost $30 per barrel | Reuters

Bahrain’s credit default swaps surpass 2016 peak when oil cost $30 per barrel | Reuters:

"The cost of insuring Bahrain’s sovereign debt against default is at an historical high, amid continuing concerns over the country’s ability to tap international markets to stave off a potential financial crisis. Bahrain’s credit default swaps went up to 413 basis points last week, surpassing previous peaks of 412 basis points in February 2016, when oil prices were at around $30 per barrel, and a peak of around 400 basis points in early 2012, in the aftermath of the political uprising of the previous year. A decline in oil prices over the past few weeks, from around $80 per barrel in mid-May to $74 on Sunday, has lifted the CDS of Saudi Arabia and Qatar by 7 bps and 10 bps, respectively. Bahrain’s CDS soared 82 points since mid-May."



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