France 10Y OAT at 4.44%, spread to Bund widens to 94bp

French 10-year OAT yield reached 4.44% on September 10, widening the spread over German Bunds to ~94bp, the highest in recent memory. This raises France's borrowing costs and signals market stress over fiscal outlook, though the immediate impact is limited to new issuance. The yield is nearly three times China's 10-year rate, reflecting divergent monetary and fiscal paths.