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Story summary
- ECB President Christine Lagarde said bank will not intervene in French bond market.
- France’s 10-year yield rose to nearly 5%, its highest in over two decades.
- Because France fails fiscal-compliance tests, the ECB cannot use Transmission Protection Instrument for French bonds.
- National Rally candidate Marine Le Pen pledged to lower deficit to 3% by 2030.
- Le Pen also aims to cut French debt to 112% of GDP by 2032.