Spread between French and German yields widens
The spread between French and German 10-year government bonds continued to widen on Friday
Having ended on Thursday at its widest since 2017, the spread reached 74 basis points in early action on Friday.
France may land in excessive debt procedure next week
MarketWatch 14 June 2024
President Emmanuel Macron has always aspired to become one of the great men of history,
saving Europe from the fires of populism and setting its economy on course to compete with the U.S. and China.
The question now looming over Macron is whether he will go down in history as the man who ushered Marine Le Pen and her far-right party to the threshold of power in France
Macron, in turning the snap elections into a referendum on Le Pen, risks walking in the footsteps of David Cameron, who as British prime minister called a 2016 referendum on Brexit, expecting the public to vote it down.
“David Cameron bet the house and lost. He bet Project Fear would win. He was wrong. Macron is doing the same,” said Mujtaba Rahman, managing director for Europe for the Eurasia Group consulting firm.
Wall Street Journal 14 June 2024
French Finance Chief Warns Left-Wing Win Would Mean EU Exit
The coalition is due to present its election pledges later on Friday and hasn’t suggested leaving the bloc.
“Their program is complete madness,” Le Maire said. “It will guarantee downgrade, mass unemployment and an exit from the European Union.”
MarketWatch 14 June 2024
French Turmoil Deepens as Macron’s Approval Rating Dives, Investors Flee
Bond Markets Spooked by French Election
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