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Sumitomo Mitsui DS AM Exits French Bonds on Fiscal Concerns
Source: Bloomberg
Sovereign Debt & RatingsFiscal Policy & BudgetCredit & Bond MarketsInterest Rates & Yields
Sumitomo Mitsui DS Asset Management sold all of its French government-bond holdings over concerns about France's fiscal position. The manager reallocated into German bunds and short-term Japanese government bonds, signaling a defensive shift toward perceived safer sovereign debt and potentially adding pressure to French bond spreads.
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