On October 17th, in Marseille in southern France, a protester waving the French flag walked over a pile of fire during clashes before the start of a demonstration aimed at protesting against "high living costs."
On Wednesday, the yield on France's benchmark 10-year government bonds briefly broke through the 5% mark for the first time since 2002. Currently, France is facing multiple crises.
Amid widespread public dissatisfaction, large-scale social unrest led to a series of violent protests and riots over the weekend. Meanwhile, the French government is struggling to pass a federal budget in a divided parliament; as national debt expands and deficits rise, pressure from the market for significant fiscal consolidation is also increasing.
The yield on France's 10-year OAT bonds recently reported around 4.9794%, an increase of about 6 basis points; prior to that, not long before 11:30 a.m. Paris time (5:30 a.m. Eastern Time in the United States), the yield briefly exceeded 5%.
This is breaking news, and updates will follow.
