French 10-year bond futures drifted lower on Monday as traders reacted to Fitch Ratings’ downgrade of the country following recent political turmoil.
December contracts for France’s 10-year government bonds, known as OATs, fell around 0.1% during morning trading. The decline came after Fitch cut the country’s credit rating to A+ from AA-, citing rising government debt, increased political polarization and doubts about the fiscal outlook.