Domestic political risks saw the periphery offered on Monday session, but declines were led by French OATs, a movement index calculated by Bloomberg showed
French yields rose 12.8bps, while the 2s10s curve steepened 7.1bps. The most dramatic move was seen in credit default swaps as they rose 2.4bps, 7.5 times the average
The premium in French bonds vs German Bunds widened to 55bps, the highest this year. The second chart below shows BTPs-Bund (yellow) and OATs-Bund (red) spreads
Comments