US Treasury yields rise after French election

Market opens strong after French election

U.S. government debt prices were lower on Monday as investors digested the results from the first round of the French election.

Early results from the French election showed Emmanuel Macron and Marine Le Pen advancing to a presidential runoff. Far-right candidate Le Pen and centrist Macron were largely expected to pull ahead in the first round of the French contest. The two had led most of the polls leading up to the election.

The yield on the benchmark 10-year Treasury notes, which moves inversely to price, was higher at around 2.278 percent, while the yield on the 30-year Treasury bond was also higher at 2.934 percent.


In oil markets, Brent crude traded at around $51.58 a barrel on Monday, down 0.71 percent, while U.S. crude was around $49.21 a barrel, about 0.83 percent lower.

Oil prices briefly traded higher earlier in the session as investors anticipate OPEC to extend a pledge to cut output through to the end of 2017.