GATT News Boosts French Bonds: Government bond...

GATT News Boosts French Bonds: Government bond prices rose 0.25 point to reach new highs before closing up 0.0625, propped up by a strong franc and hopes of an imminent accord on world trade reform. The franc reached a new high against the German mark at 3.4190 per mark. “The picture on trade and inflation looks good, and France did not dig itself into a hole during the GATT talks,” a trader at Credit Lyonnais bank said. Good news on GATT also helped propel German government bonds to an all-time high. The surge was based on rate-cut speculation.