France intends to borrow record €340 billion as Covid-era debt comes due

France's public debt agency AFT announced Tuesday it plans to borrow a record €340 billion ($385 billion) in 2027 to finance spending and repay maturing Covid-era debt. Amid surging public deficits, French 10-year bond yields hit 4.8% on the secondary market—levels unseen since the global financial crisis—while the government forecasts a 4.3% rate for next year.