The yield on France's 10-year government bonds has risen above 4.10%, reaching its highest level since October 2008.
智通财经2026/08/18 09:06Show original
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- The yield on French 10-year government bonds has risen above 4.10%, marking its highest level since October 2008, as global fixed income markets face widespread sell-offs. The expiration of the US-Iran ceasefire has pushed oil prices higher, reigniting inflation concerns and driving up borrowing costs.
- Deteriorating fiscal conditions in France are adding extra pressure, with interest expenses in the first half of the year reaching 34.5 billion euros—a 19% increase year-on-year—with public debt now accounting for about 118% of GDP. Even if the government achieves its goal of keeping this year’s budget deficit at around 5% of GDP, debt is still expected to rise in the coming years.
- Weaker US economic data has lowered expectations for imminent Federal Reserve tightening, in contrast to increasingly hawkish expectations for the European Central Bank.
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