Banque de France governor Mulan said France must reduce its fiscal deficit.

OPEC monthly report projects global oil demand at 105.84 mln b/d in 2026 and 108.19 mln b/d in 2027.

BESSENT downplayed market concern after Thursday’s Treasury buyback fell short of the announced maximum and after a recent rise in U.S. Treasury yields, saying the market is “in very good shape.” Two-year yields hit their highest levels since 2024 and 10-year yields rose to highs not seen since 2023. He cited strong results at two recent Treasury auctions and repeated that the correlation between bond and energy prices is unusually high. He said the sell-off was driven by a surge in oil prices and by the Treasury repurchasing fewer securities than planned: the Treasury had announced buybacks of up to $6.0 bln but bought $5.19 bln on Thursday. “We only buy when prices are cheap,” he said, adding that holders preferred to keep long-dated paper; the Treasury typically receives about $20.0 bln of offers to sell but this time received roughly $10.0 bln.