France's borrowing costs have risen above 5 percent for the first time in 24 years, according to The Guardian. The yield on 10-year government bonds climbed past that threshold as markets reacted to the government's failure to pass a budget and ongoing civil unrest that included violent street protests.
The Guardian reports that civic buildings remain damaged from recent riots. The combination of political uncertainty and the budget impasse has prompted investors to demand higher interest rates to hold French government debt, pushing yields higher in financial markets.
France is the eurozone's second largest economy. The spike in borrowing costs reflects investor concern about the country's fiscal and political stability.
The source does not provide detail on the timing of when yields first exceeded 5 percent, the specific sequence of political events that led to the budget failure, the scale of the riots, or statements from French government officials or market analysts about the causes or likely duration of the bond sell-off.