French 10-Year Borrowing Costs Match Greece’s for First Time
- France’s bonds have been underperforming peers on budget risks
- Investors await S&P credit rating update due on Friday
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France’s benchmark bond yield matched Greece’s for the first time on record, the latest milestone in a week marked by mounting anxiety over the fate of Prime Minister Michel Barnier’s government.
The rate on 10-year French notes, traditionally considered among the safest in the euro area, briefly rose to 3.03% before paring the move. That was the same as comparable Greek bonds, a country once at the heart of the European sovereign debt crisis.