Speaking ahead of his meeting with President Emmanuel Macron, First Secretary of the centre-left Socialist Party Olivier Faure says to reports that the PS is "ready to contribute to breaking the political gridlock, but we need a change of political direction". Says "Our priorities include changing the pensions system [Macron's flagship policy]." Faure: "Only a PM from the left could bring the political change we want...Macron should also reach out to the Communists and Greens on forming a gov't....Our aim in talks with Macron is not to accept a gov't that doesn't include policy priorities of the left."
Chart 1. National Assembly (Prospective GDR-E&S-PS-Ensemble Coalition), Seats

Source: Le Monde, MNI
Find more articles and bullets on these widgets:
| Type | 3-month EU-bill | 6-month EU-bill |
| Maturity | Feb 2, 2025 | May 9, 2025 |
| Amount | E1.418bln | E1.8bln |
| Target | E1.5bln | E2.0bln |
| Previous | E1.276bln | E1.745bln |
| Avg yield | 2.997% | 2.811% |
| Previous | 3.094% | 2.979% |
| Bid-to-cover | 2.14x | 2.04x |
| Previous | 1.44x | 1.57x |
| Previous date | Oct 16, 2024 | Oct 16, 2024 |
SOFR FIX - Source BBG/CME
OI data points to cover dominating during yesterday's twist flattening of the curve, as participants generally lightened up on exposure ahead of the election.
| 05-Nov-24 | 04-Nov-24 | Daily OI Change | OI DV01 Equivalent Change ($) |
TU | 4,397,535 | 4,440,827 | -43,292 | -1,570,743 |
FV | 6,248,163 | 6,236,241 | +11,922 | +496,677 |
TY | 4,548,256 | 4,589,153 | -40,897 | -2,656,074 |
UXY | 2,180,999 | 2,186,858 | -5,859 | -508,064 |
US | 1,832,667 | 1,834,711 | -2,044 | -258,632 |
WN | 1,743,340 | 1,747,135 | -3,795 | -748,662 |
|
| Total | -83,965 | -5,245,499 |