French borrowing costs hit a 24-year high as budget deadlock and protests rattle markets

France's benchmark 10-year bond yield has risen above 5% for the first time since 2002 as budget deadlock and street protests unsettle markets.

• The yield on France's 10-year bond hit 5% in morning trading before easing to 4.99%, a level last seen in 2002.
• The government has failed to pass its 2027 budget, with no party holding a majority since Macron called a snap election in 2024.
• Protests that began in September over school conditions have spread to cost-of-living demonstrations, with the town hall in Limoges set ablaze.
• Authorities have imposed nightly curfews in parts of Paris, Lyon, Lille, Nice and Marseille after more than 2,400 people were detained.