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CAC 40 Gains As Bond Yields Ease
(RTTNews) - French stocks traded slightly higher on Wednesday as U.S. bond yields continued to ease amid bets that the Federal Reserve is done hiking interest rates and would start cutting rates no later than May 2024.
The euro was in a defensive mode while Euro zone government bond yields hit multi-month lows after ECB official Isabel Schnabel told Reuters further interest rate hikes are "rather unlikely".
Germany's 10-year government bond yield, the benchmark for the euro area, traded down 0.5 basis point at 2.23 percent to hit a fresh 7-month low.
Reports on Eurozone monthly retail sales, U.S. ADP Non-Farm Employment Change and weekly crude inventories may attract investor attention later in the day.
The benchmark CAC 40 was up 7 points, or 0.1 percent, at 7,394 after adding 0.7 percent the previous day.
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