French 10-year yields hit 5% for first time since 2002
French 10-year yields hit 5% for first time since 2002
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French 10-year yields hit 5% for first time since 2002
France’s 10-year sovereign yield has risen to around 4.90%, the highest since 2002, with the spread to Germany at its widest since the euro zone crisis. The commentary says the move reflects worsening public finances, political dysfunction and weak growth.
The U.S. Treasury sold $39 billion of 10-year notes at a 5.300% yield, the highest for a 10-year auction since November 2000. The 10-year yield later fell to 5.273% from 5.316% after the sale.
Bitcoin dropped 3% to $83,098 as traders cited record-high Treasury yields and a stronger U.S. dollar. Ethereum, XRP and solana also fell in the same market move.
U.S. Treasury yields rose to their highest levels in more than 24 years, with the 10-year touching 5.361% and the 30-year reaching 5.730%. French bonds also underperformed as budget worries weighed on eurozone debt.
The 2-year US Treasury yield slipped after New York Fed President John Williams said there was 'no urgency' for further action, while major stock indexes eased. US crude fell and the dollar firmed against the yen as investors awaited Wednesday's PCE inflation data.
Bond yields extended their rise, with the 30-year US Treasury bond reaching its highest level since June 2002. Major stock indexes eased, while oil fell and the euro and Australian dollar weakened.
Global equity markets closed mixed, with Europe down and Wall Street ending a volatile week with modest gains. US Treasury yields topped 5%, while Brent crude remained above $100. Asian markets showed mixed performance.