France’s 10-year bond yield rose to around 3.45%, as traders weighed encouraging economic data ahead of the Jackson Hole symposium. Both French services and composite PMI readings reached 12-month highs in August, while the manufacturing PMI hit a three-month peak, pointing to a move toward economic stabilization. Data from Germany and the wider Eurozone also showed private sector activity expanding at a faster pace in early August compared with July. The positive momentum reinforces ECB officials’ reluctance to rush additional rate cuts after eight reductions since 2024, even as markets still price a 45% chance of another cut by year-end. ECB President Christine Lagarde remarked that the new 15% US tariff on EU goods exceeded baseline expectations but remained well short of worst-case scenarios.