Except for Greece, a weekend of election upsets in Europe prompted by voter backlash against austerity policies failed to unnerve the one market that is usually most focused on government spending: the bond market.
Bonds had a ho-hum reaction to balloting in France that produced the first socialist president in more than a decade, and a state election in northern Germany that delivered a rebuke to austerity-championing Angela Merkel and her governing conservative Christian Democratic Union party.
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