Thursday, May 22, 2014

SBI Debt Insurance Costs Hit 11-Months Low

Following the landslide victory of BJP-led NDA in the country's general election for 16th Lok Sabha, the cost of insuring State Bank of India's debt, used as a proxy for Indian sovereign debt, fell to a 11-month low.

As per the data provided by Markit Limited, a London headquartered global financial information and services company, the SBI's 5-year credit default swaps fell 13 bps (basis points) from Thursday's (a day before the result) close to 206 bps, the lowest since June 2013.

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