French Sovereign Stress: Yields Top US Treasuries for First Time Since 2013
France's 10-year bond yield rose above US Treasury yields for the first time since 2013, triggering blow-ups among London macro traders positioned in French carry trades.
What we know
An account on X flagged that France's 10Y yield hit 5.084%, crossing above US Treasury yields — a historically significant threshold not seen since 2013. Another account on X reported London macro traders are being 'carried out' as the French carry trade implodes, with the headline 'Everyone Has Blown Up.' This represents a major European sovereign stress signal with cross-market implications.
How the story developed
France's 10-year bond yield rose above US Treasury yields for the first time since 2013, triggering blow-ups among London macro traders positioned in French carry trades.
France's worsening fiscal situation is driving euro weakness (Raiffeisen warns EUR/USD below $1.10 possible), sparking mass protests with massive police deployment planned for Saturday, and French lawmakers narrowly passed a 31.4% tax on crypto-to-stablecoin swaps starting 2027.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.