Political turmoil in France has rattled bond markets, sending the French 10-year government bond yield soaring to a near 25-year high and widening its spread over German bonds. Spreads on other Eurozone government bonds, including Italy's, have also widened. However, several major asset managers, including Aberdeen Investments, W1M, Ninety One, and Schroders, believe that market concerns about systemic risk in the Eurozone are overblown and fundamentally different from the Eurozone debt crisis of over a decade ago, leading them to increase their positions against the trend. For instance, Aberdeen Investments has established new long positions in Italian government bonds relative to German bonds; W1M has bought French corporate bonds issued by AXA and BNP Paribas at a discount; and Schroders has reduced its underweight positions in Italian and Spanish government bonds while increasing its allocation to European investment-grade credit. Despite growing dip-buying sentiment, most institutions remain cautious about French sovereign debt itself. The Governor of the Bank of France stated on Wednesday that there is no need for European Central Bank intervention at present, emphasizing that the ECB "is not here to deal with national budget issues."