French 10-year bond yield hits 5% for first time since 2002 amid unrest

A protester waving a French national flag walks past a fire during clashes prior to the start of a demonstration to protest against the "high cost of living", in Marseille, southern France, on Oct. 17, 2026.Thibaud Moritz | AFP | Getty ImagesThe yield on France's benchmark 10-year government bond briefly crossed the 5% threshold for the first time since 2002 on Wednesday, as the country grapples with multiple crises. Mass civil unrest resulted in a swathe of violent protests and rioting over the weekend, amid broad public dissatisfaction. Meanwhile, the French government is struggling to pass a federal budget through a divided parliament as market pressure for significant fiscal consolidation mounts in response to a swelling national debt and wide deficit. The yield on the 10-year OAT was last seen around 6 basis points higher at 4.9794%, after rising above 5% shortly before 11:30 a.m. in Paris (5:30 a.m. ET). Stock Chart IconStock chart iconFrench 10-year government bondFinancial markets have been piling pressure on France to fix its finances, with investors concerned that a politically fractured parliament will struggle to agree on the spending cuts required to bring down the cou...