The Zhitong Finance App learned that the most disturbing and profound change in the European bond market at present is that France is losing its financing advantage as a traditional Western core country. On October 9, the yield on French 10-year treasury bonds reached 30 basis points higher than Italy's, setting a historical record since the birth of the euro; the interest rate spread between France and Germany once broke through 150 basis points last week, returning to the extreme point level of the European debt crisis after a lapse of nearly 20 years. France's 10-year yield has accumulated a cumulative increase of nearly 80 basis points and is close to 5% since the beginning of September, reaching the highest level since 2002. Fiscal deficits are difficult to reduce, budget execution is hampered by politics, and global long-term capital costs are rising due to spillover effects brought about by a surge in 10-year and longer-term US bond yields, which is driving France into the center of the European bond market storm.

The Zhitong Finance App learned that the most disturbing and profound change in the European bond market at present is that France is losing its financing advantage as a traditional Western core country. On October 9, the yield on French 10-year treasury bonds reached 30 basis points higher than Italy's, setting a historical record since the birth of the euro; the interest rate spread between France and Germany once broke through 150 basis points last week, returning to the extreme point level of the European debt crisis after a lapse of nearly 20 years. France's 10-year yield has accumulated a cumulative increase of nearly 80 basis points and is close to 5% since the beginning of September, reaching the highest level since 2002. Fiscal deficits are difficult to reduce, budget execution is hampered by politics, and global long-term capital costs are rising due to spillover effects brought about by a surge in 10-year and longer-term US bond yields, which is driving France into the center of the European bond market storm.