Cost of insuring against U.S. default risk at highest since Nov.5

LONDON, March 11 (Reuters) - U.S. short-dated credit default swaps, instruments used to hedge exposure to a credit, rose on Tuesday to their highest levels since the U.S. election on Nov. 5, a move that reflects creeping anxiety about the U.S. debt ceiling.

One-year credit default swaps now trade at 45 basis points, according to S&P Global, up from 43 bps on Monday. The five-year CDS traded on Wednesday at 41 bps, also the highest since Nov.5.

The Republican-controlled U.S. House of Representatives set up a Tuesday vote on legislation that would keep the government funded and avert a partial shutdown, as Washington is rocked by President Donald Trump's rapid moves to slash federal agencies.