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A woman passes in front of chart with the stock prices at the Greek Stock Exchange in Athens on Monday, May 7. In reaction to the election, Greek bonds tumbled more than €3, considered a huge move in the fixed-income market, and yields soared to a punishing 21.87 per cent, up nearly two full percentage points on the session. (Thanassis Stavrakis/THANASSIS STAVRAKIS/AP)
A woman passes in front of chart with the stock prices at the Greek Stock Exchange in Athens on Monday, May 7. In reaction to the election, Greek bonds tumbled more than €3, considered a huge move in the fixed-income market, and yields soared to a punishing 21.87 per cent, up nearly two full percentage points on the session. (Thanassis Stavrakis/THANASSIS STAVRAKIS/AP)

Bond markets take European elections in stride Add to ...

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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