The yield on France's 10-year government bond reached 5% for the first time since 2002 as unrest rocked the country, CNBC reported.1
The unrest followed a weekend of protests against the cost of living and rising fuel prices in which some demonstrations turned violent. French authorities imposed curfews in certain areas after looting and riots broke out during student and worker protests, according to CBS News. NBC News described the protests as violent and said curfews had been imposed across France, a difference in scope that the reports reviewed did not resolve.3,4,6
At least 2,400 people were arrested over the weekend, France 24 reported. Some were detained simply for being in the wrong place at the wrong time, while others were held on suspicion of theft and looting.4
French President Emmanuel Macron said in an official address that "those who looted will have to pay for the damage."4
Photographs published by France 24 showed masked protesters standing beside burning bicycles during a demonstration in Paris on October 17 against the cost of living and rising fuel prices.4
The Washington Times headline said French officials blamed far-left agitators for the violence. The reports reviewed did not name the officials making that claim or say what evidence they cited.7
Prime Minister Sebastien Lecornu vowed a "massive" police deployment for new demonstrations, France 24 reported. The New York Post described the government as bracing for the next round of protests after the weekend of riots and looting.4,5
The New York Post also reported that the US Embassy had encouraged Americans to avoid cities across France because of the violence.5
The reports reviewed did not explain what drove the rise in the bond yield, and none gave a market reaction from the government or the Treasury. The number of protesters and the total damage from the unrest were also not reported.1,4
Lecornu's planned deployment is expected to be tested at the next round of demonstrations, for which the government has said it is preparing.4,5