European Central Bank: Conditional support and French risks – Rabobank

Rabobank's Senior Economist Maartje Wijffelaars describes widening French spreads and notes 38% of French high-grade corporate debt now yields less than government bonds. She argues most spread widening may be over as France is seen as too big to fail and ECB tools exist. She outlines ECB conditionality for TPI and stresses France’s need for a credible budget.