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The Nasdaq rose to a fresh high, while Brazilian assets logged historic gains after Flavio Bolsonaro's strong first-round showing in Brazil's presidential election. The column also noted a stronger dollar, higher U.S. yields and a weaker euro.
The spread between French and German 10-year government bond yields hits its highest since 2012, extending Thursday's jump after the French government proposed a 2027 budget containing 43 billion euros in cuts and cost savings. "Bond market developments are concerning," Commerzbank strategists say…