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政治风险对金融市场的影响
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法国债市企稳迹象显现 东方汇理CIO:利差水平已具吸引力
智通财经网· 2025-08-29 11:22
Group 1 - The French bond market shows signs of stabilization amid political turmoil, with the 10-year government bond yield reaching 3.55%, the highest since March, and the yield spread with German bonds widening to 82 basis points before retreating to around 79 basis points [1] - Vincent Mortier, Chief Investment Officer of Amundi, noted that the current yield spread is attractive and could help stabilize market sentiment, emphasizing France's ability to improve its fiscal situation through tax adjustments [1] - Since President Macron dissolved the parliament in June last year, French financial assets have been under pressure, with the CAC 40 index declining by 3.2% while the broader STOXX 600 index rose by 5.1% [1] Group 2 - The French Debt Management Agency has raised the upper limit for the issuance of 10 to 30-year government bonds to €11 billion, contrasting with the reduced issuance following Macron's parliamentary dissolution last year [2] - This move is seen as a positive signal to alleviate debt concerns, although the market still needs to monitor the impact of political risks on long-term financing costs [2]