Global X ETFs said that Fitch Ratings's decision to downgrade France's credit rating outlook to a negative level will further dampen market sentiment towards French treasury bonds. Analyst Justin Lin said, “Fitch's news is clearly negative, but considering that French treasury bonds are mostly held by foreign investors, and these investors are becoming more sensitive to prices, the situation is likely to worsen.” “Given the ongoing political turmoil, they are likely to look for alternative investments in other regions or even French corporate bonds.”

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