France’s 10-year government bond yield pushed further above 3.5%, hitting its highest level since early September, after Fitch Ratings downgraded the country’s sovereign credit. The agency cut France’s rating to A+ from AA-, its lowest on record, citing political instability and mounting debt. The move comes just days after President Emmanuel Macron appointed Sébastien Lecornu as his fifth prime minister in two years. Lecornu now faces the immediate task of presenting a draft of the 2026 budget to parliament by October 7, with a possible extension until October 13
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