Global Market: Eurozone bond yields rise as French unrest fuels fiscal concerns
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- ✓Eurozone government bond yields rose on Wednesday as protests in France fueled concerns over fiscal stability.
- ✓French 10-year yields climbed to 4.948%, nearing a 23-year high.
- ✓Deutsche Bank strategist Jim Reid said, "concerns about France remained unresolved despite a temporary calming of domestic unrest." Rising oil prices also hurt sentiment.
Story at a Glance
- Category
- MARKET
- Reported By
- Economic Times
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Eurozone government bond yields rose as protests in France heightened concerns over fiscal stability and public finances. French 10-year yields climbed to 4.948%, nearing a 23-year high, while the spread over German bonds widened to 150 basis points. Rising oil prices above $110 a barrel added to inflation concerns.
Eurozone government bond yields rose on Wednesday, led by a sharp increase in French borrowing costs as widespread protests intensified pressure on a government struggling to stabilise the country's public finances. A rebound in oil prices above $110 a barrel also weighed on market sentiment, Reuters reported.
According to Reuters, French 10-year government bond yields have climbed more than 16 basis points so far this week, significantly outpacing the average increase of 5.4 basis points across the world's largest economies, based on LSEG data.
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