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OAT: Wider Again As Far Right Looks For Further Fiscal Concession

OAT

A quick ~2bp of OAT widening vs. Bunds as the far right pushes for further fiscal concessions from PM Barnier.

  • A reminder that today has already seen Barnier risk some of his government’s fiscal credibility to try and promote political stability within the republic, as he looked to placate his major political rivals.
  • 10-Year OAT/Bunds near 83bp, still ~3bp tighter on the day and off session highs of ~87bp.
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A quick ~2bp of OAT widening vs. Bunds as the far right pushes for further fiscal concessions from PM Barnier.

  • A reminder that today has already seen Barnier risk some of his government’s fiscal credibility to try and promote political stability within the republic, as he looked to placate his major political rivals.
  • 10-Year OAT/Bunds near 83bp, still ~3bp tighter on the day and off session highs of ~87bp.