October 2, 2018 / 9:43 AM / 8 months ago

Italy sovereign, bank CDS jump after League-lawmaker mentions return to own currency

LONDON, Oct 2 (Reuters) - The cost of insuring exposure to Italian sovereign debt and the debt of the country's largest lenders rose on Tuesday after an Italian lawmaker said most of the country's problems would be solved if it returned to its own currency.

Five-year credit default swaps jumped 9 basis points (bps) from Monday's close to 268 bps, the highest level in four months, according to IHS Markit.

CDS in the country's largest lender UniCredit and Intesa Sanpaolo both jumped 10 bps to one-month highs of 168 bps and 178 bps respectively. (Reporting by Karin Strohecker, Editing by Abhinav Ramnarayan)

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