French sovereign yields rose on Monday and spreads to German bunds widened after weekend unrest, compounding existing growth weakness and rising debt worries. LSEG data showed France's 2-year bond yield jumped as much as 10bps intraday. France's 10-year yield had earlier surged to 4.99% in early October amid borrowing concerns, though volatility eased last week. Deutsche Bank global macro head Jim Reid said the unrest will make international investors reluctant to fully buy French bonds and coul

FT reports US ambassador to the EU Andrew Puzder warned Washington could impose devastating retaliatory measures against European companies if the EU advances plans to reserve satellite spectrum for European firms. The European Commission has proposed allocating part of the spectrum for smartphone direct-to-device satellite services to European operators, restricting frequencies available to non-EU providers, including US firms. Puzder said the size of the US market means European firms should be wary because retaliation would inflict a very serious blow; he acknowledged governments can protect sensitive information but warned against legislation that explicitly favors domestic firms or aims to weaken US competitiveness.

China A-share agricultural planting sector weakened; Jinjian Rice Industry hit the daily limit-down, while Qiule Seed, Wanxiang Denong, Dunhuang Seed, Yasheng Group, Xinsai and Xinong Development also fell.