France Weighs More Short-Term Debt as Bond Selloff Steepens Curve

The shift toward shorter maturities is a telling signal: when a sovereign's long end gets harder to place, funding costs and rollover risk rise even if headline auction demand looks fine. The steepening curve reflects investors demanding more compensation for fiscal and political uncertainty, not a broad loss of confidence in French credit. The open question is whether the 30-year segment stays difficult and whether the curve keeps steepening as issuance composition changes.