Bank of America Corp.’s top executive in France said the bank is monitoring the situation in the country “very closely” after months of political and fiscal turbulence culminated in violent protests over the weekend.

“We saw a lot of damages,” Vanessa Holtz, head of BofA Securities Europe and country executive for France, said in an interview on Bloomberg TV Tuesday. “We are watching very closely how far this demonstration could go, how it will progress and if it will come to a resolution very quickly.”A wave of attacks on public buildings, shops and restaurants rocked France over the weekend as public fury over climbing prices spilled onto the streets. While protests largely died down after authorities rolled out tougher security measures, a measure of French bond risk breached a key level on Tuesday, underscoring the challenges facing the country as it struggles to tame the budget deficit.

The extra yield investors demand to hold French 10-year bonds over safer German debt rose through 150 basis points to reach 153, the widest since Oct. 2. The spread hit a peak of 159 basis points earlier this month as political and fiscal pressures intensified, prompting many investors to liquidate their positions in the nation’s debt.

The developments, in the run-up to presidential elections six months from now, are prompting investors to be more selective about French assets, Holtz said in the interview.

“They’re looking for quality”, she said. “We need stability and we need obviously some long-term view on investments in France.”Bank of America was one of the first Wall Street banks to transfer employees to Paris in the wake of Brexit.