French 10-Year Yield Jumps 6.2bp to 4.919%, Near 2002 High

The move is broad-based across the French curve, with the long end leading — a sign this is about duration and fiscal risk premia rather than a simple rate-expectations repricing. The striking detail is the spread behaviour: Italy's 10-year yield rose more in absolute terms than France's, yet France is the one pressing against a multi-decade high, which says the market is treating French paper less like a core anchor. Whether the long end keeps underperforming the front end is the open question worth watching.