South Africa's dollar bonds fall, CDS rise on Zuma deadlock

LONDON: South Africa's sovereign dollar bonds fell across the curve on Tuesay and the cost of insuring exposure to its debt rose to a fresh one-month high as political deadlock over President Jacob Zuma's future continued.

Zuma summoned cabinet ministers to a meeting in Cape Town on Tuesday, eNCA television reported, as pressure builds on the embattled 75-year-old leader to quit.

The 2041 Eurobond issue fell more than 0.7 cents to 109.1 cents, its lowest since mid-December according to Thomson Reuters data.

Five-year credit default swaps rose 5 basis points (bps) from Monday's close to 154 bps, according to IHS Markit data.