- Cost of US government default insurance at highest in a decade.
- Investors concerned about political impasse over debt ceiling.
- Price of five-year credit default swaps reached highest since 2012.
- Republican House demanding budget cuts in exchange for raising debt ceiling.
- IMF warns debt ceiling uncertainty adding to risks and volatility in short-term US funding markets.
Debt ceiling jitters drive up cost of insuring against US default
Market concerns rise over potential US government default as cost of credit default swaps reaches highest level in a decade amid stalemate between White House and congressional Republicans over raising borrowing limit.