French, Italian, Greek 10-Year Yields Fall About 2 Basis Points

The move is a modest, broad-based easing across euro-area sovereigns rather than a single-country story, with Italy and Greece outperforming France and Spain slightly — a sign that peripheral risk premia narrowed alongside core yields. The divergence between falling long-end yields and a marginally higher French two-year rate suggests the curve move is about duration and growth expectations, not a shift in near-term policy pricing. Whether that curve behaviour persists, and whether the peripheral outperformance holds if core yields reverse, is the open question.