French 10-Year Yield Hits 5.11% as Budget Rejections Set Aside €10B in Cuts
Photo: TokenPost
French borrowing costs climbed Thursday as this week’s rejected spending measures had already set aside about €10 billion in planned deficit cuts, adding pressure to a budget whose full votes are still ahead. The 10-year French government bond yield reached 5.11%, its highest level since 2002. The premium over comparable German debt widened to 174 basis points, the widest since 2011. A basis point is one-hundredth of a percentage point, so the spread represents a 1.74-percentage-point difference between the countries’ 10-year yields. The spread had reached 157 basis points before easing to about 150 late Oct. 21.
Source: TokenPost
