Treasury yields jump, point to risk-on after first round of French election

Treasury yields jumped in Asia after the first round of the French election ended with Macron and Le Pen in the lead.

The yield on the 10-year Treasury note jumped to 2.318 and was last seen trading around 2.312%; up 7.6 basis points on the day. The 2-year yield added 7 basis points as well. 

Australia 10-year bond yield jumped 9 basis points to 3.025%. 

The rise in the yields clearly indicates the risk-on action is likely to continue in Europe and North American session. However, one needs to cautious as the geopolitical tensions could still linger.