Group 1 - The French government led by Prime Minister Borne fell due to failure to pass a confidence vote, highlighting increasing political division in the country [1][2] - Fitch Ratings downgraded France's long-term foreign currency issuer default rating from "AA-" to "A+", indicating deteriorating debt repayment prospects [2][3] - The political instability in France is seen as weakening the government's ability to implement significant fiscal reforms, with the debt-to-GDP ratio expected to rise from 113.2% in 2024 to 121% by 2027 [3][4] Group 2 - The demand for French sovereign bonds may weaken further as the downgrade typically raises risk premiums, although some analysts believe the market has already priced in this impact [5][6] - The yield on 10-year French bonds has increased from 2.85% to 3.5% over the past year, reflecting investor awareness of France's fiscal challenges [6][7] - A rare inversion has occurred where yields on corporate bonds from major French companies are lower than those of sovereign bonds, indicating a shift in investor perception of risk [8]
【财经分析】法国失守“AA”评级 国债“安全资产”光环褪色
Xin Hua Cai Jing·2025-09-15 06:29