UBP says French OAT-Bund spread widening weighs on European assets
Bitget2026/10/05 13:44UBP flagged easing US rate-hike fears as weak payrolls cut the implied odds of an October Fed move from 70% to below 20%. Treasuries hit multi-year highs before retracing; the US 10-year touched 5.34% intraweek, the 30-year reached 5.69%. Europe underperformed as France drove spread stress; the 10-year OAT-Bund spread widened to 150 bps from 85 bps in early September. UBP kept zero direct French government debt exposure in euro mandates, citing limited political will to address deficits and debt. FX pressure stayed on the euro; EUR/USD slipped to just above 1.12, EUR/CHF fell below 0.93 as spreads widened. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Union Bancaire Privee UBP SA published the original content used to generate this news brief on October 05, 2026, and is solely responsible for the information contained therein.
- UBP flagged easing US rate-hike fears as weak payrolls cut the implied odds of an October Fed move from 70% to below 20%.
- Treasuries hit multi-year highs before retracing; the US 10-year touched 5.34% intraweek, the 30-year reached 5.69%.
- Europe underperformed as France drove spread stress; the 10-year OAT-Bund spread widened to 150 bps from 85 bps in early September.
- UBP kept zero direct French government debt exposure in euro mandates, citing limited political will to address deficits and debt.
- FX pressure stayed on the euro; EUR/USD slipped to just above 1.12, EUR/CHF fell below 0.93 as spreads widened.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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