French bond yields fall as political jitters ease
French 10-year bond yields hit a one-month low, while a more cautious mood hangs over world stock markets and the dollar, both of which struggled for clear direction
London — French 10-year bond yields hit a one-month low on Monday, pushing other eurozone sovereign yields lower, while a more cautious mood hung over world stock markets and the dollar, both of which struggled for clear direction. The fall in French bond yields came as polls showed centrist Emmanuel Macron would easily beat far-right candidate Marine le Pen in May’s presidential election runoff, relieving some fear that has built up in recent weeks among investors. "Macron gained further support in the polls," said DZ Bank rates strategist Rene Albrecht. "Another important point is that it looks like Hamon and Melenchon won’t merge, so there is less of a chance that we will have a left-wing candidate that could outpace Macron or Fillon." Hard-left candidates Benoit Hamon and Jean-Luc Melenchon have said they are discussing co-operation in their bid for the presidency but are seen struggling to find a common platform. World stocks and the dollar trod water, while US treasury yields ...
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