SINGAPORE, May 15 (Reuters) - The cost of insuring against Turkey defaulting on its sovereign debts surged to a six-month high on Monday, after a closely-contested presidential election headed to a run-off vote.

The five-year Turkey credit default swap spread jumped 105 basis points (bps) from Friday's levels to 597 bps, according to S&P Global Market Intelligence, the highest since November 2022.

The lira slipped to a two-month low.

(Reporting by Tom Westbrook; Editing by Jacqueline Wong)