1425 GMT - The cost of insuring French bank bonds against default using credit default swaps rises due to rising political turmoil in the country. Uncertainty around the country's 2025 budget, set to be presented in December, is causing investors to exercise caution. "There is considerable uncertainty whether the current government will be in place to pass the 2025 budget," Citi Research says in a note. Credit default swaps on French bank Credit Agricole rise to their highest in over three months at 48 basis points, S&P Global Market Intelligence data show. Societe Generale's credit default swaps climb to 56 basis points, a 4-week high. (miriam.mukuru@wsj.com)
(END) Dow Jones Newswires
November 27, 2024 09:25 ET (14:25 GMT)
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