10year

Published on
21/10/2026 – 11:49 GMT+2

French yields have been rising for weeks as lawmakers wrangle over a 2027 budget that calls for billions of euros in spending cuts to reduce a debt pile that now stands at around 120% of France’s GDP – one of the highest levels in the eurozone and well above the EU limit of 60%.

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The French Treasury’s OAT bond is also used to set interest rates across a wide swath of the economy, meaning borrowing costs could begin rising for businesses and households.

The last time it was that high was during the dot-com financial crisis.

The spread between the 10-year yield and the German 10-year bond, considered the European benchmark of creditworthiness, also surged to nearly 160 basis points.

The bond selloff puts further pressure on the government ahead of a decision Friday by the ratings agency Moody’s on France’s sovereign credit rating, with most economists expecting a downgrade that would automatically raise the government’s borrowing costs.

Prime Minister Sebastien Lecornu is trying to get a 2027 budget approved in parliament despite not having a political majority for the €43 billion ($48bn) in spending cuts he seeks.

Even if approved, the budget would bring France’s deficit down to only 5% of GDP next year, well above the 3% limit for EU members.

Meanwhile, protests over the weekend calling in part for more spending on schools and other public services, degenerated into the worst street violence seen in years.

Additional sources • AFP

The two pandas, Ping Ping and Fu Shuang, arrived from southwestern China.

Two giant pandas, Ping Ping and Fu Shuang, have arrived in the US state of Georgia on a 10-year loan as a soft-power gesture from China.

A new agreement between Zoo Atlanta and the China Wildlife Conservation Association makes Atlanta one of three zoos in the US to house giant pandas.

The diplomatic gifts departed early on Sunday from Chengdu Shuangliu International Airport in southwestern China, according to Chinese state media. They arrived after the high-level three-day Washington summit with China last week, where closed-door talks between United States President Donald Trump and Chinese President Xi Jinping yielded no major policy breakthroughs on prickly issues such as AI, trade, Taiwan and the war with Iran.

Although the pandas’ transfer had been finalised back in April, Xi officially announced the arrival timeline on Thursday at the White House, noting that the black and white mammals could reach Zoo Atlanta from the Chengdu Research Base, China’s premier hub for giant panda conservation, breeding and research, within the next few days. The dispatch of the vulnerable species aimed to signal a renewed bilateral friendship between the leaders of the world’s two biggest economies.

Ahead of their arrival, Zoo Atlanta had upgraded its panda habitats and secured a stable, long-term supply of locally grown Atlanta bamboo, which shares a near-identical climate with Chengdu.

The bears completed a 16-hour charter flight across the International Date Line, landing in Atlanta, Georgia, shortly before 7:00am (11:00am GMT).

Midway through its journey through Alaska, the FedEx Boeing 777 had spiked to the top of Flightradar24’s global tracking charts.

Steamed corn buns, bamboo shoots and carrots were prepared to keep the pandas nourished during their flight, Chinese state-run media reported. The US also mobilised a specialised care team to accompany the duo on their flight, they said.

A spokesperson for the zoo told Al Jazeera that their team had “done everything possible to accommodate them”, but a definitive timeline for their arrival – much less their public debut – remains “unconfirmed”.

“This is a thrilling day for Zoo Atlanta and a historic moment for the City of Atlanta, the state of Georgia and beyond,” Zoo Atlanta President and CEO Raymond B. King said in a statement. “We are elated to welcome Ping Ping and Fu Shuang and could not be more excited about sharing that joy with our Members, guests, city and community in the coming weeks.”

Zoo visitors will have to wait a while to see Ping Ping and Fu Shuang, officials said. The bears will be quarantined for about a month in a biosecure area of the wildlife park’s new giant panda complex. The zoo last had pandas in 2024.

Ping Ping, a male, and Fu Shuang, a female, were born in 2020.

Globally revered, the iconic furry animals have been sent across the globe for decades, serving as diplomatic emissaries loaned by China under its infamous “panda diplomacy” initiative through soft-power projection. Beijing leverages the animals’ immense public appeal to cultivate international goodwill, seal lucrative trade deals and burnish its geopolitical image abroad. Similarly, when foreign relationships fray or tensions arise, Beijing lets the loan agreements expire.

Xi has said this latest loan programme was an example of “friendship between the Chinese and Americans”.

Last week’s summit was Xi’s first visit to Washington in more than a decade and the second meeting this year with Trump.

Tangible outcomes of the meetings remain modest, restricted to a two-month extension of the trade truce, Beijing’s revival of giant panda loans and Xi’s support for Trump’s rebranding of artificial intelligence as “super intelligence”.