Germany’s spending push drives up borrowing costs across Eurozone

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Financial Times 2d ago

Germany’s spending push drives up borrowing costs across Eurozone - Financial Times

Quick Summary:

The shift by the region’s biggest economy away from its historic reluctance to borrow — which in the past has led to a scarcity of Bunds and sub-zero yields — to a “whatever it takes” plan for military and infrastructure spending is being felt across the bloc’s financial markets.

Ten-year Bund yields have risen to close to 3 per cent this month for the first time since a global bond sell-off in 2023.

A simulation by Point72, factoring in higher defence spending as well as higher yields, shows that without spending cuts elsewhere, or a boost to growth, Italy’s debt-to-GDP ratio could rise to 153 per cent by 2030, and France’s to 122 per cent, from around 140 per cent and 115 per cent respectively.