Egypt facts of the day

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.


Well with all that's been happening in Egypt, someone out there must be either making a killing or losing a fortune... It'll be interesting to see how this unfolds, particularly how the US administration responds to the situation. There is a lot at stake, and it doesn't show signs of slowing down...

What (if anything) does this say about the value of US support for a despotic regime compared to the value of UN support for a democratic government?

I wonder how much it costs for a cds on the cds markers people are currently taking?

If I had assets in the area and were worried about financial shenanigans, what does insurance cost?

The real question is Saudi Arabia, not Egypt. Ailing monarch. Next in line is old too, and the next after that is a religious conservative.

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