French Benchmark Yield Turns Positive For First Time Since June
- 10-year government bond yield rises five basis points to 0.01%
- Selloff comes as safe haven debt loses favor among investors
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The yield on French 10-year bonds climbed above zero for the first time since June, adding to an intensifying global bond selloff.
Government debt is losing favor as a safe haven for investors, as authorities step up the pace of vaccinations, offering hope that economies can escape the pandemic-induced gloom that has hovered over markets for the past year. Yields are also rising following a slower pace of bond purchases by the European Central Bank since the start of this year.