Market News / Story
France’s debt: too heavy to lift, too big to spot
bondvigilantes.com ·
At around 150 basis points over Bunds, French ten-year government bonds look tempting. The spread is exceptionally wide by France’s historical standards. For investors accustomed to treating France as a core European sovereign, the instinct is to buy the dislocation and wait for normality to return. But that instinct risks anchoring to a past that no longer ...