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China industrial profits jump 14.4% in September on AI demand South Korea Q3 GDP grows 1.0%, triple the central bank’s forecast Wall Street lines up $63B to fund Broadcom AI chips for Anthropic Brazil’s Ibovespa crashes ~14% after Lula’s surprise runoff win Central banks' super week: Fed, ECB, BoJ seen holding; Canada may hike Moody’s spares France a downgrade as 10-year yield tops 5% Oil slips from six-month highs as Qatar mediates in Tehran China’s Fifth Plenum opens as AI exports mask weak home demand Lula wins, Brazil markets brace for shock sell-off; Tokyo Brazil ETF plunges ~15% Brazil votes today: Lula faces Flávio Bolsonaro in runoff

China industrial profits jump 14.4% in September on AI demand South Korea Q3 GDP grows 1.0%, triple the central bank’s forecast Wall Street lines up $63B to fund Broadcom AI chips for Anthropic Brazil’s Ibovespa crashes ~14% after Lula’s surprise runoff win Central banks' super week: Fed, ECB, BoJ seen holding; Canada may hike Moody’s spares France a downgrade as 10-year yield tops 5% Oil slips from six-month highs as Qatar mediates in Tehran China’s Fifth Plenum opens as AI exports mask weak home demand Lula wins, Brazil markets brace for shock sell-off; Tokyo Brazil ETF plunges ~15% Brazil votes today: Lula faces Flávio Bolsonaro in runoff

Intelligence

French 10-year yield breaks 5% a day before Moody’s review

France’s borrowing costs are at their highest since 2002 as protests and a stalled budget shake investor confidence.

News | 22 October 2026

French 10-year yield breaks 5% a day before Moody’s review

France is now paying 2002-level prices to borrow.

The 10-year yield rose above 5.10% on Thursday, and the gap over German Bunds hit a 15-year high.

The cause is political as much as financial. Prime Minister Sébastien Lecornu’s minority government is struggling to pass the 2027 budget amid protests over the cost of living, while debt sits above 119% of GDP and this year’s deficit is expected at 5.4%.

The stress is spreading: Belgian and Italian spreads widened, European bank stocks fell about 2%, and the CAC 40 dropped more than 1%.

Next up is Moody’s, which reviews France’s rating on Friday. A downgrade would make that borrowing bill even bigger.