French 10-year spread over Bunds just hit 142bp, wider than the average during the 2011-2012 euro debt crisis. Jeroen Blokland's read: the bond market is pricing France as already in crisis, and the o

What happened: The spread on 10-year French government bonds reached a new high of 142 basis points over German Bunds, exceeding the average spread during the 2011-2012 European debt crisis. Key numbers: 142 basis points over German Bunds. Why it matters: The content says the bond market signals France is already in crisis and the risk premium on French assets is being reset. It questions when the widening spread becomes disorderly enough to justify the ECB's Transmission Protection Instrument, and calls the euro the weak link among major fiat currencies. Coverage: 3 outlets in 24h

The spread on 10-year French government bonds reached a new high of 142 basis points over German Bunds, exceeding the average spread during the 2011-2012 European debt crisis.

The content says the bond market signals France is already in crisis and the risk premium on French assets is being reset. It questions when the widening spread becomes disorderly enough to justify the ECB's Transmission Protection Instrument, and calls the euro the weak link among major fiat currencies.