French Bond Yields Hit New High Ahead of Budget Plan
France’s 10-year OAT yield surged to 4.9% on Thursday, its highest level since June 2002, ahead of the government’s budget announcement. The government is set to unveil a €54 billion fiscal consolidation plan aimed at reducing the budget deficit to 5% of GDP in 2027 from 5.4% this year. The measures are expected to tar