In One Chart: Political fears unnerve European bond markets

Government-bond yields on French, Spanish and Italian debt rose sharply on Monday, while shares in those countries tumbled, as fears of a looming political crisis in Europe resurfaced following the French socialist party’s pick of a far-left politician as its presidential candidate.

French and Italian 10-year bond yields touched their highest levels since the summer of 2015, when the standoff between Greece’s government and the so-called troika of lenders stoked fears of a eurozone disintegration.

The yield on the French 10-year TMBMKFR-10Y, +0.00% rose as high as 1.119%, its highest level since Sept. 3, 2015, while the yield on the 10-year Italian bond TMBMKIT-10Y, +0.00% known as the BTP, touched 2.350%, its highest since July 7, 2015.

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