Iran says seven ships hit near Hormuz as US and Israel reportedly plan post-midterm strikes Aramco evacuates headquarters and US pulls diplomats as Houthi strikes on Saudi Arabia intensify Russia strikes Kyiv after Witkoff-Putin talks as Ukrainian drones target Moscow Ebola reaches Nigeria as WHO warns of a more complex outbreak Oil climbs to five-month high as global stocks fall Millions of exploit attempts follow AI-found PHP flaws as sites return online French risk premium hits euro-crisis levels as borrowing costs pass US Death toll passes 150 after drone strike on Abyei market Trilateral Ukraine talks eyed for November as Witkoff's Putin remark angers allies Magnitude 7 earthquake kills at least 16 in northern Tibet France bans non-union protests ahead of Saturday demonstrations Lula accepts Bolsonaro's terms for record disclosure before Brazil run-off AI debt worries weigh on markets as Meta credit risk hits record Taiwan and China prepare as Super Typhoon Champi approaches Israel's race stays tight as Netanyahu courts right-wing voters Experts expect Meta to fight $25bn New Mexico penalty on appeal Israel frees nine settler suspects to house arrest as UN calls West Bank violence out of control Serbia's student list rallies in Belgrade as campaign closes before Sunday's vote North Korea to restart border propaganda broadcasts as tensions rise DeepSeek reportedly raises $15bn as TSMC seeks rare-earth workarounds Germany arrests Ukrainian man suspected of spying for Russia Italian truckers ease fuel-price protests as government lines up aid Trump asked Musk to lift Starlink limits in Ukraine, as Rubio says access is Musk's call Tesla profit falls as analysts debate SpaceX merger Protests in Indonesia demand action as haze blankets Southeast Asia Ankara rejects Greek and EU criticism of Libya maritime deal Afghanistan-Pakistan conflict turns to proxy groups after eight months ICC wins EU Sakharov Prize while under US sanctions Indonesia moves to shore up markets ahead of MSCI index change Retail investors fully subscribe Jio Platforms IPO Qatar, Turkey, Pakistan and Indonesia sign defence industry pact Nestlé removes Russian business from accounts after Kremlin takeover Albanian lawmakers scuffle in parliament as street protests continue NATO agency to let Ukraine buy weapons through its procurement system Aung San Suu Kyi speaks to son for first time in over five years Israeli fire kills four in Gaza as hospitals face fuel and medicine shortages Barclays to cut 5,000 jobs as it steps up AI adoption Iran says seven ships hit near Hormuz as US and Israel reportedly plan post-midterm strikes Aramco evacuates headquarters and US pulls diplomats as Houthi strikes on Saudi Arabia intensify Russia strikes Kyiv after Witkoff-Putin talks as Ukrainian drones target Moscow Ebola reaches Nigeria as WHO warns of a more complex outbreak Oil climbs to five-month high as global stocks fall Millions of exploit attempts follow AI-found PHP flaws as sites return online French risk premium hits euro-crisis levels as borrowing costs pass US Death toll passes 150 after drone strike on Abyei market Trilateral Ukraine talks eyed for November as Witkoff's Putin remark angers allies Magnitude 7 earthquake kills at least 16 in northern Tibet France bans non-union protests ahead of Saturday demonstrations Lula accepts Bolsonaro's terms for record disclosure before Brazil run-off AI debt worries weigh on markets as Meta credit risk hits record Taiwan and China prepare as Super Typhoon Champi approaches Israel's race stays tight as Netanyahu courts right-wing voters Experts expect Meta to fight $25bn New Mexico penalty on appeal Israel frees nine settler suspects to house arrest as UN calls West Bank violence out of control Serbia's student list rallies in Belgrade as campaign closes before Sunday's vote North Korea to restart border propaganda broadcasts as tensions rise DeepSeek reportedly raises $15bn as TSMC seeks rare-earth workarounds Germany arrests Ukrainian man suspected of spying for Russia Italian truckers ease fuel-price protests as government lines up aid Trump asked Musk to lift Starlink limits in Ukraine, as Rubio says access is Musk's call Tesla profit falls as analysts debate SpaceX merger Protests in Indonesia demand action as haze blankets Southeast Asia Ankara rejects Greek and EU criticism of Libya maritime deal Afghanistan-Pakistan conflict turns to proxy groups after eight months ICC wins EU Sakharov Prize while under US sanctions Indonesia moves to shore up markets ahead of MSCI index change Retail investors fully subscribe Jio Platforms IPO Qatar, Turkey, Pakistan and Indonesia sign defence industry pact Nestlé removes Russian business from accounts after Kremlin takeover Albanian lawmakers scuffle in parliament as street protests continue NATO agency to let Ukraine buy weapons through its procurement system Aung San Suu Kyi speaks to son for first time in over five years Israeli fire kills four in Gaza as hospitals face fuel and medicine shortages Barclays to cut 5,000 jobs as it steps up AI adoption

Symbolic image: French risk premium hits euro-crisis levels as borrowing costs pass US

Symbolic image

French risk premium hits euro-crisis levels as borrowing costs pass US

8 sources

French 10-year yields stayed above 5% on Thursday, and the spread over German Bunds is the widest since 2011. Budget deadlock and unrest are driving the selloff.

The French 10-year yield broke 5% on Wednesday, 21 October, for the first time since 2002 and touched 5.1415% on Thursday, Reuters reports. The spread over German Bunds widened to 177.7 basis points, the widest since November 2011, and the Guardian notes that French borrowing costs now exceed US Treasury yields for the first time since 2013. Le Monde blames the deadlock over the 2027 budget: deputies have already widened the deficit by about ten billion euros, according to the public accounts minister. Moody's rating decision is due on Friday.

Unrest weighs on sentiment

After violent protests on the weekend of 17 and 18 October, the interior ministry counted nearly 2,400 arrests. Ministers promised troops alongside extra police for further protests on Saturday. Carrefour's chief executive put the cost to the group at 80 to 200 million euros, Le Monde reports.

Contagion and the ECB

Deutsche Bank's Jim Reid says Italy's spread widened to 116 basis points and Spain's to 66. Nomura's Andrzej Szczepaniak sees a very high bar for ECB intervention, and ING expects the bank to hold rates next week. Shares in France's top three lenders have fallen 17% in six weeks, Reuters reports.