Eurozone Officials Urge France to Pass Budget as ECB Rules Out Bond Market Intervention

Eurozone finance ministers and the European Central Bank will urge France to pass its 2027 budget, confirming that neither the European Commission nor the ECB plans emergency bond interventions. French 10-year yields reached 4.897%—approaching 5% for the first time since 2002—as bond prices logged a sixth consecutive weekly drop. Selling pressure deepened as the 10-year French-German yield spread spiked past 150 basis points and the euro hit 17-month lows against the dollar. Investors remain skeptical of planned spending cuts amid a projected 5.4% deficit, public debt near 120% of GDP, and €340 billion in planned debt issuance.