|Source: CMA, part of S&P Capital IQ|
Ukraine's 5-Year CDS Spread Crashes 276 bps After Russia Agrees to Buy Bonds (CMA Chart of the Day)
12/18/2013 10:39:00 AM
After Russian President Vladimir Putin agreed to buy $15 billion of Ukrainian bonds and lower gas prices yesterday, Ukraine's 5-year credit default swap spread, the cost to insure $10 million (euros?) of its bonds per year, tightened 276.3 bps to just under 800 bps, according to CMA (S&P Capital IQ). Ukraine's 5-year credit default swap mid-spread is currently at 758.19 basis points, down 26.65 bps from yesterday's close, and has a 40.35% probability of default (CPD%).
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