"Europe's Debt Alarm Bells Ring!" France 30-Year Bond Yield Hits 4.90%-Highest Level Since 2008 Financial Crisis Amid Spending & Inflation Panic!

In a major shock to European sovereign debt markets, the yield on France's 30-year government bond has surged to 4.90%, marking its highest level since the peak of the 2008 Global Financial Crisis. Benchmark 10-year French borrowing costs also climbed past 4.10%, as international bond investors aggressively dump French government paper and demand significantly higher risk premiums to lend money to Paris over the long haul.
The sharp spike in borrowing costs comes as France faces mounting scrutiny over its massive public debt burden, which has climbed past 117% of gross domestic product (GDP), complicating ongoing budget planning in Paris. Compounding the fiscal pressure, geopolitical tensions in the Middle East and spiking global crude oil prices have fueled fresh inflation worries across the Eurozone, reinforcing market expectations that the European Central Bank (ECB) will be forced to keep interest rates elevated for longer.