France’s 10-year OAT yield climbed towards 4.85%, approaching its highest level in more than two decades, as escalating social unrest and persistent political gridlock intensified pressure on the country’s already battered bond market. Mass protests over the rising cost of living and deteriorating school conditions swept across France over the weekend, with violence and looting reported in several cities. The unrest adds to mounting challenges for the government, which is struggling to pass a budget and rein in public debt ahead of next year’s presidential election. Prolonged political uncertainty threatens to keep borrowing costs elevated, further complicating efforts to restore confidence in France’s public finances. French government bonds have been among the hardest hit in a broader global bond selloff driven by renewed inflation concerns, expectations of higher interest rates, and growing worries over government debt levels.