French Borrowing Costs Rise Above US Treasury Yields for First Time Since 2013

French government borrowing costs rose above US Treasury yields on 22 October 2026 for the first time since 2013. The 10-year yield, the annual return investors demand to lend to France, reached 5.089% in early trading, its highest since July 2022. The budget deficit was 5.1% of GDP (annual economic output) in 2025, and debt was 115.6%.