Barnier Holds Bond Market at Bay With Urgent Plan for France

-- Prime Minister Michel Barnier’s first policy address on Tuesday bought his new government some much-needed time to fix France’s finances, while avoiding a major rebuke from investors.Climate Migrants Stand to Overwhelm World’s Megacities

French bond yields remained substantially lower on the day amid a broad market rally, despite trimming gains slightly after Barnier spoke. The 10-year yield spread over Germany — a gauge of French bond risk — tightened one basis point to 78 basis points, compared with a peak of 82 basis points in recent days. France is due to sell 10-year and other long-term bonds on Thursday, according to the country’s debt agency.

The government already warned last week that the deficit this year would be much wider than the 4.4% the previous administration initially planned, as tax receipts have disappointed and local authorities have ramped up spending. The slippage has rattled investors, who already started selling French assets when Macron dissolved parliament in early June.

The nationalist group “doesn’t plan to drag the country into chaos,” Le Pen said. “The National Rally has made a responsible choice of refusing to censure your government from the outset to give it a chance – as infinitesimal as it may be – to finally implement the necessary measures for repair.” “Confronted with our immense challenges we don’t have the choice: Our responsibility is to lessen the burden and get back room to maneuver with the budget,” Barnier said.

The government “won’t work miracles,” Barnier said. But it’s “ready to overcome the obstacles one by one and strive to answer the French people’s concerns.”Military Veterans Help Plug Worker Shortages at EV, Battery Plants Sprouting Up in the USAlcaraz and Sinner will face off for the title in Beijing in what is their first final in two years

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Wall Street holds steady following mixed reports on the economyNEW YORK (AP) — U.S. stocks are holding steady following some mixed data on the economy, but they’re still on track for their worst week since April. The S&P 500 was 0.1% higher in early trading Thursday.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street holds steady after a closely watched jobs report comes in mixedNEW YORK (AP) — U.S. stocks are holding relatively steady after a jobs report billed as the most important of the year came in mixed. The S&P 500 was up 0.2% early Friday, but it’s still on track for its worst week since April.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street holds near record levels as it heads for a winning weekNEW YORK (AP) — U.S. stocks are holding near their record levels as they close out their fourth winning week in the last five. The S&P 500 was up 0.1% in early trading Friday. The Dow Jones Industrial Average climbed 98 points, or 0.
Source: SooToday - 🏆 8. / 85 Read more »

Firms Pile Into Bond Market in Busiest Day on RecordA record number of blue-chip firms are swarming the corporate bond market Tuesday morning, taking advantage of cheaper borrowing costs as they look to issue debt ahead of the US presidential election.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

US corporate borrowers rush to bond market post-Labor DayU.S. corporate borrowers flooded the investment-grade and junk bond market on Tuesday, getting ahead of expected market volatility on this month's rates...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

How the bond market is pricing in jobs data, Fed rate cutsTreasury yields (^FVX, ^TNX, ^TYX) are falling after fewer jobs than expected were added to the US labor market in August, growing by 142,000 nonfarm payroll...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »