法国10年期政府债券收益率升至3.55%，为9月初以来的最高水平，此前一周该国预算危机和全球央行决策动荡。总理塞巴斯蒂安·莱科尔努正在寻求议会批准2026年的预算，面临着越来越多的政治阻力和对计划削减开支的广泛反对。法国国债与德国国债的收益率差距扩大，给新总理增加了压力。本周早些时候，该国的长期信用评级被下调，主权收益率短暂跌破意大利，这是一个不寻常的反转。在货币政策方面，美联储在暂停九个月后降息，而日本央行保持政策稳定，但表示对今年晚些时候加息持开放态度。英格兰银行也保持借贷成本不变。

France’s 10-year government bond yield rose to 3.55%, the highest since early September, after a volatile week marked by the country’s budget crisis and global central bank decisions. Prime Minister Sébastien Lecornu is seeking parliamentary approval for the 2026 budget, facing mounting political resistance and widespread opposition to planned spending cuts. France’s yield spread over German Bunds has widened, adding pressure on the new premier. Earlier this week, the country’s long-term credit rating was downgraded, and sovereign yields briefly dipped below Italy’s—an unusual inversion. On the monetary policy front, the Federal Reserve cut rates after a nine-month pause, while the Bank of Japan kept policy steady but signaled openness to a rate hike later this year. The Bank of England also left borrowing costs unchanged.