Netanyahu calls for Iran regime's fall as Hormuz stays shut and talks stall Drone strike on Abyei market kills at least 153 Ebola reaches West Africa as Nigeria confirms Bundibugyo case Houthis strike Aden again as US pulls embassy staff from Saudi Arabia Putin frees US citizen and accepts trilateral Ukraine talks after Witkoff visit Venezuela quake death toll likely far higher than official count, NYT analysis finds French 10-year yield passes 5% as spread to Germany widens Macron rebukes Trump over riot comments as France braces for more protests Websites go offline worldwide as PHP releases fixes for critical flaws Oil stays above $105 as Gulf exports recover and US lends fuel reserves Brazil run-off tightens as Lula and Bolsonaro seek to disqualify each other Musk reportedly throttled Starshield for Ukraine as EU demands full restoration Meta ordered to pay $25bn to New Mexico over privacy deception Drone strikes kill three in Ukraine as both sides report new attacks Turkey, Qatar, Pakistan and Indonesia sign Badr defence pact Israeli army chief visits Gaza as food shortages worsen for children Australian MP Helen Haines loses both legs after alleged vehicle attack EU, Greece and Israel condemn Libya-Turkey maritime deal after eastern parliament ratifies it Bank Indonesia holds rate as MSCI downgrade threat weighs on markets Jio Platforms' record IPO fully subscribed within two hours of opening Anthropic posted $80bn first-half loss, WSJ reports Fears grow over $2.7tn of AI 'shadow debt'Super Typhoon Champi, year's strongest storm, heads for Taiwan and China Israel's election days away as race stays tight Musk says SpaceX and Tesla exploring merger Russia to send first diesel cargo to US after sanctions relief Italy sends 500 troops to Milan and adds protest offence as truckers' blockades hit supplies UN says world is on course for 2.6 to 2.8C warming and must cut emissions 18% in four years China drafts curbs on exports of top AI models as DeepSeek open-sources inference framework Student movement challenges Vucic's long rule as Serbia heads to parliamentary election OpenAI says two of its AI agents disabled their own misalignment monitoring Kremlin warned Germany of more sabotage after Leipzig, as Europe weighs counter-drone powers Russian and Chinese premiers sign joint communique in St. Petersburg Stones and Molotov cocktails thrown in Tirana as student protests continue China monitors US warship and Philippine resupply near disputed South China Sea shoals China says rare-earth export controls on Japan aim to prevent 'remilitarization'UK approves Jackdaw North Sea gasfield despite climate criticism Israeli military detains US candidate Brad Lander and dozens of volunteers at West Bank olive harvest UK inflation rises to 3.5% and borrowing tops forecasts before Budget Aid workers warn of unmanageable crisis in besieged Taiz Iraq closes border crossings with Iran Hungary detains Orbán's former central bank chief Matolcsy WMO warns of record-strength El Niño Thousands of Greek students and teachers march over cost of living North Korean army chief inspects southern border and warns of retaliation Netanyahu calls for Iran regime's fall as Hormuz stays shut and talks stall Drone strike on Abyei market kills at least 153 Ebola reaches West Africa as Nigeria confirms Bundibugyo case Houthis strike Aden again as US pulls embassy staff from Saudi Arabia Putin frees US citizen and accepts trilateral Ukraine talks after Witkoff visit Venezuela quake death toll likely far higher than official count, NYT analysis finds French 10-year yield passes 5% as spread to Germany widens Macron rebukes Trump over riot comments as France braces for more protests Websites go offline worldwide as PHP releases fixes for critical flaws Oil stays above $105 as Gulf exports recover and US lends fuel reserves Brazil run-off tightens as Lula and Bolsonaro seek to disqualify each other Musk reportedly throttled Starshield for Ukraine as EU demands full restoration Meta ordered to pay $25bn to New Mexico over privacy deception Drone strikes kill three in Ukraine as both sides report new attacks Turkey, Qatar, Pakistan and Indonesia sign Badr defence pact Israeli army chief visits Gaza as food shortages worsen for children Australian MP Helen Haines loses both legs after alleged vehicle attack EU, Greece and Israel condemn Libya-Turkey maritime deal after eastern parliament ratifies it Bank Indonesia holds rate as MSCI downgrade threat weighs on markets Jio Platforms' record IPO fully subscribed within two hours of opening Anthropic posted $80bn first-half loss, WSJ reports Fears grow over $2.7tn of AI 'shadow debt'Super Typhoon Champi, year's strongest storm, heads for Taiwan and China Israel's election days away as race stays tight Musk says SpaceX and Tesla exploring merger Russia to send first diesel cargo to US after sanctions relief Italy sends 500 troops to Milan and adds protest offence as truckers' blockades hit supplies UN says world is on course for 2.6 to 2.8C warming and must cut emissions 18% in four years China drafts curbs on exports of top AI models as DeepSeek open-sources inference framework Student movement challenges Vucic's long rule as Serbia heads to parliamentary election OpenAI says two of its AI agents disabled their own misalignment monitoring Kremlin warned Germany of more sabotage after Leipzig, as Europe weighs counter-drone powers Russian and Chinese premiers sign joint communique in St. Petersburg Stones and Molotov cocktails thrown in Tirana as student protests continue China monitors US warship and Philippine resupply near disputed South China Sea shoals China says rare-earth export controls on Japan aim to prevent 'remilitarization'UK approves Jackdaw North Sea gasfield despite climate criticism Israeli military detains US candidate Brad Lander and dozens of volunteers at West Bank olive harvest UK inflation rises to 3.5% and borrowing tops forecasts before Budget Aid workers warn of unmanageable crisis in besieged Taiz Iraq closes border crossings with Iran Hungary detains Orbán's former central bank chief Matolcsy WMO warns of record-strength El Niño Thousands of Greek students and teachers march over cost of living North Korean army chief inspects southern border and warns of retaliation

Symbolic image: French 10-year yield passes 5% as spread to Germany widens

Symbolic image

French 10-year yield passes 5% as spread to Germany widens

7 sources

France's 10-year borrowing cost topped 5% on Wednesday for the first time since 2002. The spread to Germany is at its widest since 2011.

The yield on the 10-year bond reached 5.005% around 11:05 on Wednesday, 21 October, against 4.926% at Tuesday's close, Le Monde reports; the Guardian says it later eased to 4.99%. Le Monde links the move to investor doubts after the riots and looting of the weekend of 17 to 18 October. The spread to Germany reached 157 basis points, a gap seen only briefly in 2011. France now pays more than Italy (4.57%) and Spain (4.06%).

Budget stalemate

The government has yet to pass its 2027 budget, the Guardian notes. Le Monde puts the draft's new efforts at 43 billion euros to bring the deficit to 5% of GDP, while El País cites 54 billion euros in cuts. The Swiss bank UBP sees little chance of realistic consolidation before the May 2027 presidential election.

Moody's review and growth risk

Moody's reviews France's rating on Friday; it currently stands at Aa3 with a negative outlook. The French economic institute IFE says its 2027 growth forecast of 0.5%, which assumes yields averaging 4.5%, would need cutting if they stay above 5%.