1337 GMT - The cost of insuring European bank bonds against default using credit default swaps rises due to concerns about the risk of tariffs after the U.S. announced levies on Canadian, Mexican, and Chinese goods over the weekend. Markets are re-evaluating risk premiums and recalibrating valuations after the tariffs announcements, Daiwa Capital says in a note. "The major supply shock represented by the new trade barriers will likely add to inflation, weaken GDP and trade," Daiwa says. The 5-year credit default swap on BNP Paribas and Deutsche Bank each rise 1 basis point to 46bps and 59bps respectively, S&P Global Market Intelligence data show. (miriam.mukuru@wsj.com)
(END) Dow Jones Newswires
February 03, 2025 08:37 ET (13:37 GMT)
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