French PM François Bayrou lost a confidence motion in parliament (364-194). With investors expecting President Macron to accept Bayrou’s resignation and name a new premier, euro area sovereign spreads declined across France and peripheral economies. In Japan, the Nikkei 225 rose and the yen closed little changed as investors digested the resignation of PM Ishiba.
In oil markets, the price of the barrel of Brent rose as traders weighed the OPEC+’s weekend announcement to raise production. In gas markets, Europe’s TTF benchmark increased amid renewed Russian strikes on Ukraine and discussions over further sanctions against Russia.
Access today’s full report to learn more (PDF)