US Yields Near 3-year High, Euro Stronger After French Election

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, on April 5, 2022. Staff/Reuters

LONDON—U.S. Treasury yields rose to multi-year highs on Monday, while the euro strengthened and the spread between French and German bond yields narrowed after French President Emmanuel Macron won a larger than expected vote share in Sunday’s election.

With 97 percent of the votes counted for Sunday’s presidential election first round, Macron garnered 27.6 percent of the votes and right candidate Marine Le Pen won 23.4 percent. Macron will now go into a runoff against Le Pen on April 24.