France’s 10-year OAT yield slipped below 3.6% as investors prepared for a series of key economic releases from Europe and the US due later this week. Over the weekend, US military action in Venezuela and the capture of President Nicolas Maduro raised geopolitical risks, prompting a modest increase in demand for safe-haven assets. In Europe, attention is on preliminary December Eurozone inflation figures, while in the US, the jobs report will be closely monitored for signals on the Federal Reserve’s policy outlook. Looking ahead to 2026, traders are bracing for another year of substantial debt issuance, with the French treasury planning to borrow a record €310 billion, despite starting the year without a fully approved state budget. French lawmakers failed to pass the 2026 budget in December, forcing the government to invoke a special emergency budget law, which rolls over the previous year’s budget to maintain state funding until a new finance bill is adopted.