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GC Asia
France returns to lockdown, but OAT buyers shrug
French president Emmanuel Macron announced on Wednesday that stringent lockdown measures imposed in some areas will be extended nationally for a month. Though the measures will cost France €11bn, it is unlikely to provoke a serious response in France’s bond market.
French schools and non-essential shops will close from Saturday. There will be a ban on travelling more than 10km. A curfew of 7pm will be imposed.
France’s seven day average for new cases is 37,997 — the worst since November 2020.
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