Israel's dollar bonds slide, CDS rises, as regional tensions escalate
LONDON, June 12 (Reuters) - The cost of insuring Israel's debt against default rose on Thursday, and its bond prices slid, as regional security concerns spiked and the country's own government wobbled.
Israel's five-year credit default swap rose 7 basis points from Wednesday close, to reach 105 bps, according to S&P Global Market Intelligence, while its international dollar bonds slid more than 1 cent. The 100-year issuance, which matures in 2120, shed more than 1.3 cents to be bid at 66.76 cents on the dollar, Tradeweb data showed.
The United States restricted government employees' travel outside Israel's cities, and pulled some personnel out of the Middle East, due to escalating tensions with Iran.
Israel's parliament rejected early on Thursday a preliminary vote to dissolve itself, giving the ruling coaltion led by Prime Minister Benjamin Netanyahu more time resolve its worst political crisis yet and avoid a ballot that polls suggest he would lose.
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