Bad news keeps piling up for the government. France's ten-year borrowing rate climbed to 4.94% at 10 a.m. on Thursday 1 October, up from 4.85% at Wednesday's close. French government bonds on the secondary market last yielded a similar rate in 2002, when they reached 4.91%.
More importantly, the borrowing rate has just seen its largest quarterly increase in almost four decades, as well as its sharpest monthly rise since 2022.
