Lagarde rules out an easy ECB rescue for French debt while Hormuz shipping attacks intensify | FXStreet

Lagarde rejected the idea of an “easy” European Central Bank rescue for French debt as shipping attacks in the Hormuz region intensified, according to FXStreet market notes. Oil price support met pushback on rate pricing, with Brent back above $106 and gilts leading the duration bid, down around 4bp to about 5.40%. In the U.S., indices were largely flat amid a credit stress focus on AI infrastructure: CoreWeave’s unsecured notes widened 130–150bp in a day to roughly 1,000bp over Treasuries. The 2032 notes traded near 15% versus 9.625% when dollar notes priced at par in June. ASML drew attention after raising its 2026 revenue outlook to €44B–€45B and warning capacity plans won’t satisfy demand in 2027–28, even after a 30% expansion.