A post by @FirstSquawk on X.

ECB Governing Council member Martins Kazaks said the recent stress in French government bonds reflects markets repricing fiscal risk rather than a disorderly selloff. The remarks, reported via First Squawk, frame the widening of French spreads as a reassessment of the country's fiscal trajectory. The comments matter because they signal the ECB views the move as fundamentals-driven, reducing the likelihood of an imminent policy response. Investors will watch whether French spreads stabilize or continue to widen, and whether other ECB officials echo Kazaks' characterization.