French bond yields slide to 4.69%, lowest since Sept. 25

France's 10-year yield has fallen to about 4.69%, its weakest level since Sept. 25, according to Crypto Briefing. The drop reflects rising prices for French government debt. It marks a sharp reversal from October, when the yield traded near 5.14% — a peak last seen in 2002.

The yield gap between French and German 10-year debt has narrowed below 150 basis points, pulling back from a decade high of 178 basis points. That means investors are demanding less extra compensation to hold French paper over bunds. French yields are also moving with a broader global easing trend.

Attention now shifts to Federal Reserve Chair Jerome Powell, whose statements or moves could push U.S. Treasury yields around. Inflation, employment and GDP reports are lined up as the data points that will shape market expectations.

The European move has a transatlantic read. If yields in Europe keep falling, it would reinforce the likelihood of lower U.S. yields, per the report — with global bond markets the venue to watch for the next leg.