1434 GMT - The cost of insuring European bank bonds against default using credit default swaps rises due to increased concerns on the impact of tariffs ahead of the April 2 deadline, with many hitting their highest in 10 weeks or more. "European markets are on the back foot in early trade once again, with tariff fears driving risk assets lower globally," Scope Markets' Joshua Mahony says in a note. The five-year CDS on the U.K.'s HSBC 5-year CDS rises to its highest in more than five months at 55 basis points, while Germany's Deutsche Bank 5-year CDS trades at a 10-week high of 62 basis points, S&P Global Market Intelligence data show. The 5-year CDS of UniCredit, NatWest, Santander and UBS also hit 10-week highs. (miriam.mukuru@wsj.com)
(END) Dow Jones Newswires
March 28, 2025 10:34 ET (14:34 GMT)
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