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{FR} French Banks: Bonds Leg Wider

FINANCIALS
  • Widening in French cash spreads is accelerating here with SOCGEN +5-13, BNP +5-11, ACAFP +4-10, BPCE +5-13. Moves are comparable to Monday with more gradual widening in the days between before today.
  • Chaos among the French conservatives seems to have raised the prospect of RN finding coalition partners from the fallout.
  • Consensus earlier in the week that a path to government for RN was remote is now questioned.
  • 1W widening now into the 30s of bps on some bonds.

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