Turkish 5-year CDS hit 1-month high on economy, Syria concerns

LONDON: The cost of insuring exposure to Turkish debt hit a one-month high on Friday as concerns about the conflict in Syria, a widening current account deficit and high inflation weighed on the market.

Turkish five year credit default swaps rose 1 basis point from Thursday's close to 176 basis points, according to data from IHS Markit, the highest since February 15. The CDS have risen 10 basis points since the start this week.