French yields at 2002 highs and a Bundesbanker just called it a clear warning sign

A senior Bundesbank official used the words clear warning sign to describe Europe's bond selloff, and French yields have now climbed to levels last seen in 2002. Paul Krugman has publicly said France may be too large for anyone to rescue. When French borrowing costs rise, every bond that matures and gets refinanced costs the government more. That compounds fast across a debt load the size of France's, and the ECB eventually faces pressure to step in the way it did in 2012. Jean-Claude Trichet ca

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