French bond yields hit 2002 highs as debt and protests mount
Briefing by News4U · First published
Yields on French 10-year bonds topped 4.9 percent, the highest since 2002, as debt nears 119 percent of GDP and protests oppose budget cuts.
French 10-year bond yields rose above 4.9 percent on Tuesday, the highest level since 2002, as investors demanded higher returns amid widening deficits and political paralysis. [1] [2]
National debt stands at about 3.6 trillion euros, or 119 percent of GDP, while the 2026 deficit is forecast at 5.4 percent of GDP, well above the EU average. [2]
Hundreds of thousands of protesters have taken to the streets against proposed 54 billion euro savings, with Prime Minister Sébastien Lecornu facing opposition from both far-right and far-left parties. [2]
Sources
- French Bond Risk Climbs Again as Investors Wary on Outlook
Bloomberg · · Summary only
- France’s growing debt woes: How bond markets set countries’ borrowing costs
Al Jazeera · · Excerpt