Today had a “French flavor” in the secondary bond market, as the great pressures that French bonds received due to the elections, were transferred to almost all the markets of the Eurozone.

The spread on French ten-year bonds reached 0.85%, approaching the levels to which it had soared in the 2012 crisis.

In the Greek market the situation was clearly better, however the corresponding margin increased to 1.25%-1.29%, returning to the levels of last November.

Although analysts believe that there is no obvious reason, as the fundamentals of the eurozone do not justify today’s market reaction, investors seem to be concerned about the political developments in France, and whether they could affect the entire E .E

The turning point is June 9, when the president of France Em. Macron announced the early elections, which (the first round) are to be held the day after tomorrow, Sunday. The result of these elections is estimated to contribute to the swelling of the country’s Public Debt, in the event that the political extremes are strengthened.

In the secondary bond market today, and more specifically in the Electronic Transaction System (HDAT) of the Bank of Greece, transactions of 48 million euros were recorded, of which 27 million euros related to purchase orders.

The yield on the Greek 10-year bond increased to 3.74% against 2.45% of the corresponding German bond, resulting in a spread of 1.29%.