凯投宏观：法国政府借贷成本或将反超意大利

Core Viewpoint - The borrowing costs of the French government are expected to surpass those of Italy soon, indicating worse debt dynamics in France [1] Group 1: Debt Dynamics - According to Capital Economics, the debt dynamics in France are deteriorating, with political stability being weaker compared to Italy [1] - The forecast suggests that by the end of 2023, the yield on French 10-year government bonds will rise to 3.75%, while the yield on Italian bonds may remain around 3.50% [1] Group 2: Economic Indicators - The prediction appears surprising given Italy's heavier debt burden and lower trend growth rate, but it highlights the worsening situation in France [1]