French unrest pushes 10-year bond yields to 24-year high; Moody's maintains negative outlook amid ongoing protests
French unrest has pushed the country's 10-year government bond yields to their highest level since 2002 earlier this week, with the CAC 40 index falling 4.5% over the past month. Rating agency Moody's on Friday maintained its Aa3 credit rating on France but kept a negative outlook, citing increased risk from political fragmentation. Carrefour shares plunged over 14% on Wednesday after the supermarket giant cut its profit outlook, partly blaming the turmoil. Further demonstrations are planned for October 24 and November 5, raising investor concerns over budget, growth, and sector risks.
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