The French OAT futures is still leading the gains within EGBs, the 10yr Yield is testing the 3.50% level, although this is not seen as a Technical level.
The Initial resistance in OATM5 is seen further out, up to 122.80.
The early price action in futures has helped the OAT/Bund to tighten by 1.7bps, the spread is again testing the 67.00bps area, this was close to the 50% retracement of Macron's last June snap election call.
A clear break through 67.00bps, opens to ~63bps next.