French yields bounce off lows

After yesterday’s deep pullback, yields in the French money markets seem to be regaining some traction today.

In fact, the 10-year reference has so far climbed to the vicinity of the 0.78% handle, up from Monday’s low at 0.73% following the Macron win at the elections on Sunday. The gap vs. its German peer stays just above 40 pts vs. pre-election readings around 63 pts (Friday).

In the meantime, Emmanuel Macron continues to lead the vote intentions in the run up to the second round vs. Marine Le Pen by around 60%-40% according to latest polls.

EUR/USD remains close to the 1.0900 handle, always supported by the risk-on sentiment prevailing since early on Monday.