The move pushed long-dated French borrowing costs to their highest level since the 2008 financial turmoil, signaling renewed pressure in sovereign debt markets.
France’s 30-year bond yield rose above 4.74% on the day, marking its highest level since the global financial crisis. The move indicates higher borrowing costs for the French government over long maturities and points to renewed stress in sovereign debt markets as investors demand greater compensation to hold long-term debt.