French Bond Yields Hit 24-Year High, Euro Pressured to Near 1.11

English summary

French 10-year bond yields broke above 5% for the first time since 2002, with the France-Germany spread approaching 160 basis points. Driven by social unrest, Moody's rating review, and budget stalemate, markets are repricing French sovereign risk, pushing EUR/USD down to an intraday low of 1.1112.