Bond yields

It’s possible that the rise in US yields as Powell speaks is not because of what he is saying, which is nothing really new, but in response to the bond sell off going on in Europe today with French yields up the most. The 10 yr French yield is higher by 9 bps after falling by 4.5 bps yesterday in immediate response to the elections. And the CAC 40 is down by 1.8% taking its year to date performance back to negative, by almost 1%. The reality of governing is now upon whatever new government gets formed and managing their excessive debts and deficits is what investors are most focused on.