France’s 10-year government bond yield steadied at 3.35% at the end of July, as investors geared up for a week packed with important economic data. Market focus is on France’s July inflation figures, along with second-quarter GDP results, all of which could impact the European Central Bank’s (ECB) future policy decisions. Following the announcement of the US-EU trade deal, expectations for an ECB rate cut shifted. Markets have delayed the anticipated 25 basis point cut to March 2026, now assigning a 90% probability by that time. The chance of a rate cut occurring by December has dropped below 70%. Elsewhere, investors are closely watching the Federal Reserve’s policy announcement due Wednesday, where rates are largely expected to stay steady ahead of President Trump’s August 1 tariff deadline. Attention will also be on the US jobs report, set for release on Friday.