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Turkish 5-year CDS climb 11 basis points to highest since pre-election market tumult

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LONDON, April 15 (Reuters) – The cost of insuring exposure to Turkish sovereign debt rose on Monday to the highest level since pre-election market turmoil in late March, as the lira extended its losses after disappointment at the economic strategy the government laid out last week.

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Turkey’s five-year credit default swaps rose 11 basis points (bps) from Friday’s close to 459 bps, according to data from IHS Markit. (Reporting By Tom Arnold; Editing by Hugh Lawson)