UK government bonds fall; 10-year yield rises 5bps to 5.29%.

Refinitiv: A senior Iranian official said Tehran is reviewing the U.S. response to its proposal to end hostile actions.

The New Development Bank today published a China country portfolio evaluation by its Independent Evaluation Department. The review covers 27 projects approved between July 2015 and December 2024 and judges NDB’s cooperation with China as “successful.” The report says NDB’s China loan portfolio is one of the bank’s largest country platforms globally and identifies four strengths: RMB local‑currency financing, project delivery efficiency, sustainable technology innovation and project compliance/performance. It concludes the portfolio provides a replicable model for multilateral development banks serving emerging economies to deliver high‑impact, sustainable, inclusive infrastructure projects.