French 10-year government bond yield rises to 4.94%, pushing the spread over German bunds to its widest since 2012
The yield on France's 10-year OAT rose to 4.94% on October 20, 2026, more than 150 basis points above the comparable German bund. The spread is the highest since January 2012. Investors have sold French debt amid doubts about the government's ability to control spending, with Prime Minister Sébastien Lecornu seeking approval of a 2027 budget containing 43 billion euros in spending cuts without a parliamentary majority. Moody's is due to decide on France's sovereign rating on Friday, October 23, 2026.
- Reutersfirst
- Wall Street Journal+5.2 h
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Lightly covered so far
Too few outlets to map a left-right split. Here is each take as it stands.
“French 10-year government bond spread vs Germany highest since 2012”
“French bond yields near 24-year high as new protests loom”
“French Government-Bond Yields Turn Higher; Treasury Yields Fall - WSJ”