A first-round of the French parliamentary elections promising President Emmanuel Macron a crushing majority in parliament lifted investor sentiment on Monday, though the lowest voter turnout in modern history clouded celebration. France’s 10-year government bond yield fell 3 basis points to 0.62 percent, outperforming other higher-rated euro zone peers. The gap over benchmark German Bund yields tightened to around 36 basis points from around 39 bps late on Friday. “We have to restore trust,” said Christophe Castaner, who is also minister for parliamentary relations, on Monday. Marine Le Pen’s National Front (FN) scored 13.2 percent and the ruling Socialists just 7.4 percent.

Source: Egypt Independent June 12, 2017 09:23 UTC