French 10-year yields fall to 4.9158% in pre-market trading
On October 22 the French 10-year yield stood at 5.084%, above US Treasury yields for the first time.
Published
French 10-year yields fell as much as 10.56 basis points in pre-market trading, to 4.9158%.
On October 22 the French 10-year yield was at 5.084%, above US Treasury yields for the first time. The spread of French debt over German Bunds widened 16 basis points that day, to 176 basis points. It stood at 178 basis points on October 24, well above the October low near 112. French five-year credit default swaps (CDS), which price the cost of insuring debt against default, rose to 97.75 basis points on October 22, a 13-year high. That same day, French 10-year yields were 50 basis points above Italian yields for the first time.
Thousands protested across France over public services and cost-of-living pressures. 70,000 security personnel were deployed to prevent a repeat of last weekend's riots. French private-sector activity contracted to 48.4.
Whether the decline holds depends on how the budget standoff and the street unrest evolve, including the security buildup for this weekend.
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