Cost of insuring China against default rises to near one-year high

·1 min read

LONDON, Sept 20 (Reuters) - China sovereign credit default swaps jumped to a near one-year high on Monday, up nine basis points from Friday's close to 45 basis points, IHS Markit data showed. 

  Concerns about the fallout from heavily indebted China Evergrande Group are weighing on wider risk sentiment at a time when global investors are also worried about the impact of the timing of the tapering of stimulus by major central banks. 

  Other emerging market giants also saw large jumps in CDS, with Brazil's CDS climbing 17 basis points to a five-month high of 197 basis points, while Turkey's CDS surged 19 basis points to 406, the steepest level since early June, the data showed. (Reporting by Tom Arnold Editing by Rachel Armstrong) 

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