The Market Vectors Egypt Index (EGPT) ETF is down 20% since Jan. 14 and down 2.9% today on more than six times the daily average volume. Egypt’s credit-insurance costs have also spiked. According to Markit, a data provider, a credit-default swap to insure $10 million of Egyptian sovereign debt over five years has spiked 33% to $405,000. (Update: the CDS cost has jumped to $450,000 since this post was first made.) It may surprise, given what you see on TV, but that’s still cheaper than similar insurance for Portugal, Ireland and Greece.
The article is here. And:
The Nasdaq Israel Index (ISRQ) is down 1.2% today and 3% in the past 10 days.