French stocks and government bonds struggled to find direction on Monday following surprise results in France’s parliamentary elections, which saw left-wing parties outperform the far right Sunday, leaving the country’s parliament facing gridlock.
The yield, or return sought by investors, on benchmark 10-year bonds ticked down to 3.18 per cent by late afternoon, reversing a slight rise recorded earlier in the day.
The premium traders demand to hold French bonds instead of the ultra-safe German equivalents was also lower on the day.
But it was still a lot higher than before French President Emmanuel Macron called the snap elections on June 9.
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