French Benchmark Yield Turns Positive For First Time Since June

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The yield on French 10-year bonds climbed above zero for the first time since June, adding to an intensifying global bond selloff.

Government debt is losing favor as a safe haven for investors, as authorities step up the pace of vaccinations, offering hope that economies can escape the pandemic-induced gloom that has hovered over markets for the past year. Yields are also rising following a slower pace of bond purchases by the European Central Bank since the start of this year.

France’s 10-year yield rose five basis points to 0.01%. Those on German equivalents were also five basis points higher, at minus 0.25%.

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