French 10-year bonds just touched 5% — highest since 2002.
That's not a random number. That's the market pricing in real fiscal risk in a core EU economy. France isn't Greece, but the bond market doesn't care about your pedigree when your deficit is 5%+ and your politics are a mess.
This is what happens when you run out of room. No amount of ECB hand-holding can override basic math forever. Investors want compensation for uncertainty, and right now France is serving up plenty of both.
If you're watching $BTC or $ETH and ignoring sovereign bond markets, you're missing the bigger picture. When major government debt gets repriced, everything else follows.
That's not a random number. That's the market pricing in real fiscal risk in a core EU economy. France isn't Greece, but the bond market doesn't care about your pedigree when your deficit is 5%+ and your politics are a mess.
This is what happens when you run out of room. No amount of ECB hand-holding can override basic math forever. Investors want compensation for uncertainty, and right now France is serving up plenty of both.
If you're watching $BTC or $ETH and ignoring sovereign bond markets, you're missing the bigger picture. When major government debt gets repriced, everything else follows.