Treasuries rise ahead of French election
United States government bonds traded higher on Friday as market participants turned their attention to the upcoming presidential elections in France, scheduled for April 23. Investor sentiment seems to be leaning towards an outcome that would be beneficial for markets: a second round run-off between the far-right Marine Le Pen and a more centrist candidate, Emmanuel Macron.
The yield on 10-year Treasuries declined 1.6 basis points to 2.216% at 5:07 pm CET, while the yield on two-year bonds dropped 2.07 basis points to 1.1639%. The yield on 30-year debt was down 1.24 basis points to 2.8698% at the same time.
Meanwhile, in Europe, the yield on 10-year German Bunds, a benchmark for the Eurozone, edged up 0.1 basis points to 0.245%, whereas the yield on British gilts of the same maturity plunged 3 basis points to 1.039%. Bond yields move in the opposite direction relative to prices.