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10- Year OAT/Bunds Through Yesterday's Low

OAT

OAT/Bunds tightens through yesterday's low to the 71bp area before moving back to 72bp.

  • Some attribute the spread tightening to this headline from AFP: "200 candidates quit French runoff, aiming to block far right"
  • Note this isn’t a meaningful deviation from our political risk team's morning observations, which pointed to 191 candidates withdrawing from their run offs, based on Le Monde's reporting.
  • We remain on the lookout for fresh headlines to explain the move, although can't definitively rule out the aforementioned AFP headline as a driver.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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