France sells EUR 13.497bln vs exp. EUR 11.5-13.5bln 2.40% 2029, 2.70% 2031, and 2.00% 2032 OAT
The recent French bond auction saw stronger-than-expected demand, with total bids exceeding the expected range.
Uber (UBER) is reportedly moving to implement stricter driver background checks, New York Times reports
US President Trump and his advisors have reportedly indicated that the USMCA could be scrapped, NY Times reports. Instead, the US could have bilateral deals with Canada and Mexico.
France sells EUR 13.497bln vs exp. EUR 11.5-13.5bln 2.40% 2029, 2.70% 2031, and 2.00% 2032 OAT
[MARKET ANALYSIS] Antipodeans gain following recent losses; DXY edges lower after Wednesday's advances
[MARKET ANALYSIS] Bonds hold a bearish bias, continuing the pressure seen in the prior session
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- 2.40% 2029: b/c 2.50x (prev. 3.48x) & average yield 2.40% (prev. 2.57%)
- 2.70% 2031: b/c 2.61x (prev. 2.655x) & average yield 2.60% (prev. 2.76%)
- 2.00% 2032: b/c 2.94x (prev. 3.562x) & average yield 2.89% (prev. 2.98%)
While the average yields on the bonds came in lower compared to previous auctions, the bid-to-cover ratios indicate that investor appetite remains stable, albeit slightly diminished. This could imply a cautious sentiment among investors regarding interest rate expectations and future bond supply dynamics.
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