French Government Bonds Lead Global Debt Selloff; 10-Year France-Germany Yield Spread Widens by 10 Basis Points

Deep News10-20 01:00

French government bonds underperformed their European and UK counterparts after weekend protests over the cost of living turned violent, with the benchmark 10-year French yield climbing 13 basis points to 4.94%, marking its largest increase since September.

This move pushed the spread between French and German 10-year yields 10 basis points wider to 148 basis points.

With the presidential election approaching next April, a recent poll indicates that far-right leader Marine Le Pen is set to lead in the first round of voting.

Across other markets, the 10-year German bond yield rose 3 basis points to 3.46%, while German 10-year bond futures fell 48 ticks to 121.14.

The 10-year Italian yield increased 8 basis points to 4.57%, and the spread between Italian and German yields widened by 5 basis points to 111 basis points.

The 10-year French yield climbed 13 basis points to 4.94%, and the 10-year UK gilt yield rose 6 basis points to 5.43%.

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