In fixed income, US Treasury markets were closed for Columbus Day. European sovereign yields fell modestly, as did peripheral spreads, despite persistent political uncertainty in France, where President Macron reappointed Lecornu, prompting renewed threats of censure motions from opposition parties.
In FX, the euro depreciated slightly against the dollar. In commodities, Brent crude remained below $65, supported by improved sentiment on trade and reduced supply risks following the Gaza ceasefire, although prices faced headwinds from Trump’s remarks on arming Kyiv with long-range missiles, which could potentially disrupt Russian oil output.
Â