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OAT: Further 10-year OAT/Bund Spread Tightening As Barnier Agrees To RN Request

OAT
CEEMEAEurozoneFranceBulletMarketsFixed Income Bullets

Further tightening impetus for the 10-year OAT/Bund spread as Michel Barnier agrees to Marine Le Pen's request not to raise electricity taxes in the 2025 budget. 

  • The spread is now just over 3bps tighter today at ~82bps.
  • The limited dovish impetus in EUR STIRs on BdF Governor Villeroy’s comments earlier will have also helped today’s narrowing extend.
  • OAT futures to session highs, currently +63 ticks at 126.18.
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Further tightening impetus for the 10-year OAT/Bund spread as Michel Barnier agrees to Marine Le Pen's request not to raise electricity taxes in the 2025 budget. 

  • The spread is now just over 3bps tighter today at ~82bps.
  • The limited dovish impetus in EUR STIRs on BdF Governor Villeroy’s comments earlier will have also helped today’s narrowing extend.
  • OAT futures to session highs, currently +63 ticks at 126.18.