Indicators · Government bonds and interest rates

France's borrowing costs

Triggered since 24 Sep 2026

105 basis points at ten years (+27 over three months; the previous high since 2019 was 110) and 63 at five years, as of 24 Sep 2026.

What it measures

The extra yield France pays over Germany on ten-year and five-year government bonds.

Why it matters

Governments pay for support mostly out of taxes on wages. Doubts about a government's finances in the long run show first at ten years; a widening that reaches five years as well points to a nearer crisis.

When it triggers

Triggers at a new high since 2019, on a move within a week larger than 99% of weekly moves in the previous two years, or when the five-year gap widens nearly as fast as the ten-year.

Source: Sveriges Riksbank.