French 10-year yield premium over Germany widens to 150bp, highest since 2012; default insurance costs hit multiyear high

The French-German 10-year bond spread has widened to 150 basis points, its highest since 2012, after France's 10-year yield hit its highest since 2002. The cost of insuring French government debt against default rose to a multiyear high, with 5-year sovereign CDS at 81 basis points, as fiscal concerns intensify. UBS warns France's proposed €43bn in spending cuts still fails to resolve longer-term fiscal challenges.

Detected & updated continuously · Source: Nebula