Kazakhstan CDS jump, Eurobonds fall after tenge hits record low

LONDON: Kazakhstan's debt insurance costs rose and Eurobond prices fell across the curve on Monday after the country's tenge currency hit a fresh record low, weighed down by weaker oil and rouble prices. Data from Markit showed that five-year credit default swaps rose 23 basis points (bps) to 314 bps, the highest since late-October.

Kazakh dollar-denominated bonds fell, shaving off as much as 0.64 cents, with the 2025 issue trading at 97.448 cents in the dollar - its lowest since early-October.