A Societe Generale rates strategist says persistent uncertainty could shift the French government bond (OAT) market’s dominant holder base from foreign to domestic investors. Spreads are expected to widen but with limits: investors may underweight French assets yet are unlikely to fully exit OATs. The case for further rate hikes remains unresolved; sustained inflation risk means central banks could need to tighten again if price pressures re‑emerge.

On Oct. 8, the US Treasury said it had imposed a new round of sanctions on Iran, designating 17 vessels used to transport Iranian crude, refined oil products and petrochemicals. Treasury officials said the US estimates about 20 mln barrels of Iranian crude remain aboard ships outside the scope of US port-blockade measures. Officials added Iran has halted loading and unloading of crude tankers because of the US blockade and sanctions. Earlier the same day President Trump said he was holding productive talks with Iran and would not attack Iran before the Nov. 3 US midterm elections.

NZD gave up earlier gains and turned lower versus the dollar in European morning trade on Thursday as risk sentiment weakened. Renewed Houthi attacks, including a strike on a Saudi airport, pushed Brent crude toward $102/bbl amid rising fears of further strikes on Saudi oil facilities and tighter supply. Higher oil lifted US Treasury yields as markets priced stronger energy-driven inflation, capping further USD weakness after Asian-session declines. Those moves offset a modest dollar dip following Fed minutes, which showed policymakers remain concerned about inflation but left market expectations for the Fed to hold rates in October unchanged.