法国10年期OAT债券收益率反弹至3.5%，为一周多来的最高水平，投资者在等待周五公布的关键通胀数据的同时分析了PMI数据和欧洲央行的评论。3月份的调查显示，欧元区商业活动以七个月来最快的速度扩张，法国私营部门的收缩速度低于预期，这得益于制造业衰退的缓解。与此同时，市场已经完全消化了欧洲央行4月份降息25个基点的预期，此前包括de Galhau、Cipollone和Stournaras在内的官员发出了鸽派信号。此外，拉加德总统对经济增长放缓发出警告，但淡化了欧盟对美国关税进行报复时的通胀风险，表明欧洲央行不会以加息来应对。在2月份通货膨胀率降至0.8%的四年低点后，人们的注意力现在转向了周五的法国CPI报告。

France’s 10-year OAT bond yield rebounded to 3.5%, its highest level in over a week, as investors analyzed flash PMI data and European Central Bank comments while awaiting key inflation figures due on Friday. The March surveys showed that Eurozone business activity expanded at its fastest pace in seven months, with France’s private sector contracting at a slower pace than expected, supported by an easing in the manufacturing downturn. Meanwhile, markets have fully priced in a 25 bps ECB rate cut in April, following dovish signals from officials including de Galhau, Cipollone, and Stournaras. Additionally, President Lagarde cautioned about weaker economic growth but downplayed inflation risks in the event of EU retaliation against U.S. tariffs, signaling that the ECB would not counter with rate hikes. Attention now turns to France’s CPI report on Friday, after inflation fell to a four-year low of 0.8% in February.