Saudi Default Risk Jumps as U.S.-Iran Tensions Flare: Chart - Bloomberg:
The cost of insuring against a Saudi Arabian bond default spiked on Friday following the killing of Qassem Soleimani, one of Iran’s most venerated generals, on the orders of U.S. President Donald Trump. The price of the kingdom’s five-year credit default swaps rose even more than when missiles struck Saudi oil facilities in September, an attack Washington blamed on Tehran. At 65 basis points, Saudi Arabia’s CDS is more expensive than Indonesia’s for the first time in almost two years.
The cost of insuring against a Saudi Arabian bond default spiked on Friday following the killing of Qassem Soleimani, one of Iran’s most venerated generals, on the orders of U.S. President Donald Trump. The price of the kingdom’s five-year credit default swaps rose even more than when missiles struck Saudi oil facilities in September, an attack Washington blamed on Tehran. At 65 basis points, Saudi Arabia’s CDS is more expensive than Indonesia’s for the first time in almost two years.
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