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Le Pen Pension Plan Pushes France 10-Year Yields Higher

By Drooid · Oct 9, 2026, 2:07 AM UTC · How we work

Summary

Story summary

Marine Le Pen’s pension stance drives French 10-year bond yields higher.
RBC BlueBay strategist Mike Bell says the French-German spread could reach a 200-basis-point premium over German bonds.
The 10-year spread rose above 150 basis points last Friday, its highest level since 2011.
Pensions cost €436 billion next year, equal to 14% of France’s economic output.

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Story summary

Marine Le Pen’s pension stance drives French 10-year bond yields higher.
RBC BlueBay strategist Mike Bell says the French-German spread could reach a 200-basis-point premium over German bonds.
The 10-year spread rose above 150 basis points last Friday, its highest level since 2011.
Pensions cost €436 billion next year, equal to 14% of France’s economic output.