Once again, you can argue for populism and nationalism if you like, but the market will render its own judgement and it’s likely to be “guilty as charged.”
Here’s Marine Le Pen pantomiming the spread between French and German yields…
France’s government bonds are starting to lose their cachet as some of the safest in the euro area, with National Front leader Marine Le Pen ahead in a poll on the first round of France’s presidential election.
- The yield on 10-year French securities is the highest relative to Spanish debt since April 2010
- Spread between French and German yields near the widest level in more than two years