Russia Default Swaps Jump Most Since August in Greece Fallout

[Joanne98]

Feb. 5 (Bloomberg) -- Russia credit-default swaps jumped the most since August as an emerging-market selloff triggered by Greece’s debt crisis drove investors to seek protection on riskier assets.

The cost to protect against a default on Russian government bonds rose 18.5 basis points to 219 basis points, the highest level since September, according to CMA Datavision prices.

“It’s part of the general market movement,” because of concerns about budget deficits in Greece, Portugal and Spain said Maxim Oreshkin, head of research at OAO Rosbank in Moscow. “All credit spreads are widening and credit-default swaps are rising on all instruments,” he said.

Russia plans more than one sale of foreign bonds this year, the first in more than a decade, Deputy Finance Minister Dmitry Pankin told reporters in Moscow today. The government appointed Citigroup Inc., Barclays Capital, Credit Suisse Group AG and VTB Capital as co-organizers of the sale, he said.

http://www.businessweek.com/news/2010-02-05/russia-default-swaps-jump-most-since-august-in-greece-fallout.html

[westerebus]

1. They should call Hank.

Mr. Paulson that is. I'm sure he would know how to "fix" this. :evilgrin:

[Joanne98]

2. LOL