Happening now
Moody's affirmed France's sovereign rating at Aa3 with a negative outlook, warning that slowing growth, a widening deficit, rising financing costs and social protests could hinder fiscal consolidation, as the France-Germany 10-year yield spread widened to 178bps Thursday from 85bps in early September.
Moody's affirmed France's sovereign rating at Aa3 with a negative outlook, warning that slowing growth, a widening deficit, rising financing costs and social protests could hinder fiscal consolidation, as the France-Germany 10-year yield spread widened to 178bps Thursday from 85bps in early September.
- Trump is expected to remove some tariffs on Canada, according to a WSJ report cited by the wire.A reduction in US tariffs would ease trade friction on Canadian exporters. Lower tariff pressure tends to support CAD, which could weigh on USD/CAD if the move is confirmed.
- USDCHF fell 0.46% to 0.8206 as Treasury yields plunged 15-19 basis points, with the 10-year yield at 4.96% versus 5.36% last week, amid a Nasdaq selloff tied to AI-spending worries.US Treasury yields dropped sharply alongside a tech-led equity selloff, signaling a broad risk-off shift away from US assets. Lower yields reduce the dollar's yield advantage, which tends to support the Swiss franc and is consistent with USDCHF's decline.
- South Korea's KOSPI index opened down over 2%, falling intraday to 5500 points (down 2.36%), with SK Hynix down 1% and Samsung Electronics down 3%.This marks a sharp selloff in Korea's main equity benchmark, led by steep declines in semiconductor heavyweights SK Hynix and Samsung Electronics.
Jin10
France fiscal risk widensFrance-Germany spread widens