Historic Shift As French 10-Year Yields Surpass Italy’s

The hierarchy of European sovereign debts has just shifted. On Tuesday, September 9, France borrows at a higher rate than Italy on ten-year bonds. Less than 24 hours after the fall of the Bayrou government, the markets have decided: the French signature is no longer a refuge. This reversal, unprecedented in over a decade, marks a loss of confidence affecting the State's budgetary credibility.

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