French Bonds Rally After Avoiding Credit Rating Downgrade; Oil Prices Decline

French bonds experienced a rally, with the 10-year yield decreasing by seven basis points, following Moody's Ratings' decision to maintain France's credit rating at Aa3 with a negative outlook, thereby averting a downgrade. This development contributed to a narrowing of the yield gap between French and equivalent German debt. Concurrently, Brent crude oil prices fell by 2%, dropping below $115 a barrel.