Following the weekend European elections, the French government bond market experienced significant stress. The 10-year OAT-Bund spread widened by 7-8 basis points, marking its highest levels since last year. The downgrade of France’s sovereign credit rating by Standard & Poor’s to AA- from AA due to budgetary concerns has further exacerbated the situation. This downgrade
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News has surfaced that United Auto Workers President Shawn Fain is currently under investigation by a federal court-appointed watchdog, Neil Barofsky. The primary focus of the investigation is to determine whether Fain has abused his power as union president. In addition, union leaders, including Fain, have been accused of obstructing the investigation and impeding access
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The municipal bond market showed little movement on Monday, contrasting with slight losses in the Treasury market and a positive performance in equities. This relative stability comes amidst a smaller calendar of new issuances and economic uncertainty as the Federal Open Market Committee (FOMC) meeting looms. The muni-to-Treasury ratios held steady, with the 30-year ratio
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