According to Jinshi, Societe Generale interest rate strategists said that eurozone government bonds are expected to be supported next month due to low issuance and narrowing national interest rate spreads. Strategists pointed out that increased quantitative tightening and 2025 budget negotiations will focus the market on fundamentals and expected supply. As the market is hesitant about the prospect of an October rate cut by the European Central Bank and the US election is approaching, interest rate spreads will face a test.