French 10-year yield probing lows post-Macron

Yields in the French money markets are navigating a ‘sea of red’ at the beginning of the week after centrist Emmanuel Macron won the second round of the French elections on Sunday vs. far-right candidate Marine Le Pen 65%-35%.

The 10-year reference is coming down to test session lows in sub-0.77% levels after hitting fresh monthly peaks above 0.80% late on Friday.

The selling pressure continues to hit EUR during the European morning, trading around 1.0960 vs. the US Dollar, while the stock benchmark CAC40 is down 0.50% for the time being.