One more feather in the cap of the Norwegian krone – Norway’s sovereign debt is viewed as lower risk than Switzerland!
The benchmark five-year credit default swap for Norway hovers around 31 basis points, making it the country with the lowest cost to insure against default, according to Markit, undercutting Switzerland’s 36 basis points.
Source – Reuters: Safe Nordic currencies primed to gain as majors
Hat tip Dr. Evil for sending this one along.
More research on the Norwegian krone here – is it the forgotten safe haven currency?
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