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2026-02-13 16:13:00
[French 10-year bond yield falls to lowest level since October] ⑴ The yield on French 10-year bonds fell to 3.35%, the lowest level since October 22. ⑵ Investors await US consumer price data to be released later today for a clearer signal on the direction of Federal Reserve policy. ⑶ This pullback followed stronger-than-expected US labor market data released on Wednesday, weakening market expectations for a near-term Fed rate cut. ⑷ In Europe, investors are assessing signs that the European Central Bank (ECB) is generally accommodative regarding the recent strength of the euro. ⑸ The market also reacted to reports that French central bank governor François Villeroy de Gallo, considered a dovish policymaker, may step down early. ⑹ ECB President Christine Lagarde stated last week that the inflation outlook remains favorable and downplayed concerns about the euro's appreciation. ⑺ The money market currently estimates only a 30% chance of an ECB rate cut before December.
