Israel and Saudi Arabia CDS Spike On Friday, Keep Eye On Contagion Risk

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via Bloomberg
According to CDS quotes on Bloomberg.com, Israel Government 5Y CDS (credit default swap) spiked 17% to 145 basis points ($145,000 to insure $10 million of debt against default) on Friday 1/28/2011. Keep an eye on the protests in Egypt for potential contagion risk, as well as oil prices.

I also see that Saudi Arabia 5Y CDS jumped 48% on Friday to 109.83 basis points (CMA Datavision) and Egypt CDS spiked as well (Zerohedge). You can't trade CDS on Scottrade but they are interesting to watch.