法国10年期OAT收益率保持在3.3%，为3月4日以来的最低水平，因为投资者权衡了央行的新信号和美国的政治风险。在特朗普总统和NEC董事哈塞特暗示可能罢免美联储主席鲍威尔后，人们对美联储独立性的担忧加剧，引发了人们对美国货币政策受到政治干预的担忧。与此同时，欧洲央行按预期将存款利率下调25个基点至2.25%，为2023年初以来的最低水平。该行还从声明中删除了“限制性”一词，并警告称，由于贸易紧张局势，经济前景将恶化。市场目前预计欧洲央行今年将再降息三次。

France’s 10-year OAT yield held at 3.3%, its lowest level since March 4, as investors weighed fresh signals from central banks and political risks in the US. Concerns over the Fed’s independence flared after President Trump and NEC Director Hassett hinted at possibly removing Fed Chair Powell, raising fears of political interference in US monetary policy. Meanwhile, the ECB cut its deposit rate by 25bps to 2.25% as expected, marking the lowest level since early 2023. The bank also dropped the term “restrictive” from its statement and warned of a worsening economic outlook due to trade tensions. Markets are now pricing in three more ECB rate cuts this year.

在巴黎，CAC 40指数周四下跌44点，跌幅0.60%。亏损最多的是爱马仕国际（-3.09%）、空客（-2.88%）和圣戈班（-2.70%）。涨幅最大的是Unibail-Rodamco（1.72%）、Publicis（1.50%）和AXA（1.24%）。

In Paris, the CAC 40 Index fell 44 points or 0.60 percent on Thursday. Leading the losses are Hermes International (-3.09%), Airbus (-2.88%) and Saint-Gobain (-2.70%). Top gainers were Unibail Rodamco (1.72%), Publicis (1.50%) and AXA (1.24%).

CAC 40指数周四下跌0.6%，收于7286点，在欧洲央行如普遍预期的那样将利率下调25个基点至2.25%后，连续第二个交易日延续下跌。尽管此举反映了欧元区通胀放缓和经济增长疲软，但围绕美国贸易政策的不确定性继续笼罩着前景。值得注意的是，欧洲央行在其政策声明中省略了“限制性”一词，暗示了进一步放松货币政策的可能性。在美国关税不断升级的背景下，市场也消化了新一波企业盈利。爱马仕股价下跌3.2%，此前该公司公布2025年第一季度收入增长低于预期，并公布了提高美国价格以完全吸收关税成本的计划。在其他主要下跌股中，空客、圣戈班和达索系统的股价下跌了1.9%至2.9%。

The CAC 40 slipped 0.6% to close at 7,286 on Thursday, extending losses for a second session after the ECB cut interest rates by 25 basis points to 2.25%, as widely anticipated. While the move reflects moderating inflation and weakening growth across the Eurozone, uncertainty surrounding U.S. trade policy continued to cloud the outlook. Notably, the ECB omitted the term "restrictive" from its policy statement, hinting at the possibility of further monetary easing. Markets also digested a fresh wave of corporate earnings against the backdrop of escalating U.S. tariffs. Hermès fell 3.2% after reporting weaker-than-expected revenue growth in the first quarter of 2025 and unveiling plans to raise U.S. prices to fully absorb tariff costs. Among other major decliners, Airbus, Saint-Gobain, and Dassault Systèmes saw their shares drop between 1.9% and 2.9%.

法国10年期政府债券收益率跌至3.25%的6周低点。在过去的4周里，法国10年期债券收益率下降了24.25个基点，在过去的12个月里，它上升了24.00个基点。

France 10 Year Government Bond Yield decreased to a 6-week low of 3.25%. Over the past 4 weeks, France 10Y Bond Yield lost 24.25 basis points, and in the last 12 months, it increased 24.00 basis points.