1150 GMT - The cost of insuring U.K. bank bonds against default using credit default swaps edges lower as U.K. government-bond yields drop back after recently surging to multi-year highs. Wednesday's U.K. inflation data came in below forecasts, pulling bond yields lower due to greater prospects of Bank of England interest-rate cuts. This eased fears that high borrowing costs could damage the U.K.'s public finances. Barclays' 5-year credit default swaps decline 1 basis point to 67bps, S&P Global Market Intelligence data show. NatWest Group's 5-year CDS is down 1 basis point to 58bps. (miriam.mukuru@wsj.com)
(END) Dow Jones Newswires
January 16, 2025 06:50 ET (11:50 GMT)
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