法国10年期政府债券收益率周一跌至3.49%，此前曾短暂触及3.516%的一周高点，因为投资者的注意力从该国的信用评级下调转向了一周的央行会议。由于对其独立性的担忧，预计美联储周三将降息至少25个基点，因为政策制定者在劳动力市场降温与关税驱动的通货膨胀之间取得了平衡。与此同时，英格兰银行和日本银行被视为保持借贷成本稳定。在国内，惠誉评级将法国的主权信用评分从AA-降至A+，这是有记录以来的最低水平，理由是政治不稳定和债务上升。就在几天前，法国总统埃马纽埃尔·马克龙任命了两年来的第五位总理，此前弗朗索瓦·贝鲁辞职，贝鲁未能获得对一揽子增税和削减开支计划的支持。

France’s 10-year government bond yield slipped to 3.49% on Monday after briefly touching a one-week high of 3.516%, as investor focus shifted from the country’s credit rating cut to a packed week of central bank meetings. The US Federal Reserve is expected to lower rates by at least 25 basis points on Wednesday amid concerns over its independence, as policymakers balance a cooling labor market against tariff-driven inflation. Meanwhile, the Bank of England and the Bank of Japan are seen holding borrowing costs steady. Domestically, Fitch Ratings cut France’s sovereign credit score to A+ from AA-, the lowest on record, citing political instability and rising debt. The move came just days after President Emmanuel Macron appointed his fifth prime minister in two years, following the resignation of François Bayrou, who failed to secure support for a package of tax hikes and spending cuts.

巴黎CAC 40指数周一开盘上涨0.3%，收于7860点，延续了上周的势头，尽管惠誉以债务上升和政治不稳定为由将法国的长期信用评级从AA-下调至A+。本周投资者关注的焦点是央行的决策，市场普遍预计美联储将降息25个基点，而日本央行和英格兰银行将保持政策稳定。在股票方面，威立雅股价上涨0.2%，此前威立雅与SATORP签署了一项5亿美元的协议，与马拉菲克和拉马尔一起，在中东最大的石化中心朱拜勒建造一座大型工业废水回收厂。意法半导体（+1.3%）、Stellantis（+0.9%）、开云集团（+0.7%）和泰雷兹集团（+0.70%）也支撑了涨幅。

Paris’s CAC 40 opened 0.3% higher at 7,860 on Monday, extending last week’s momentum even after Fitch cut France’s long-term credit rating to A+ from AA-, citing rising debt and political instability. Investor focus this week is on central bank decisions, with markets widely expecting the Federal Reserve to deliver a 25-basis-point rate cut, while the Bank of Japan and the Bank of England are seen holding policy steady. In stocks, Veolia rose 0.2% after signing a $500 million deal with SATORP, alongside Marafiq and Lamar, to build a large-scale industrial wastewater recycling plant in Jubail, the Middle East’s largest petrochemical hub. Gains were also supported by STMicroelectronics (+1.3%), Stellantis (+0.9%), Kering (+0.7%), and Thales (+0.7%).

在巴黎，CAC 40指数周一上涨60点，涨幅0.76%。开云集团（2.71%）、泰雷兹集团（2.40%）和路威酩轩集团（1.93%）领涨。最大的输家是Edenred（-0.84%）、安赛乐米塔尔（-0.41%）和达索系统（-0.40%）。

In Paris, the CAC 40 Index is picking up 60 points or 0.76 percent on Monday. Gains are led by Kering (2.71%), Thales (2.40%) and LVMH (1.93%). Biggest losers are Edenred (-0.84%), ArcelorMittal (-0.41%) and Dassault Systemes (-0.40%).

惠誉评级将法国主权信用评级从AA-下调至A+，为有史以来最低，法国10年期政府债券收益率进一步突破3.5%，为9月初以来的最高水平。该机构引用了政治不稳定和债务增加的理由，强调了财政问题，而此时总统埃马纽埃尔·马克龙正在两年内任命他的第五位总理。降级是在前总理弗朗索瓦·贝鲁上周辞职后发生的，此前他未能为增税和削减开支的计划争取到支持。贝鲁还提出了一项不受欢迎的计划，即取消两个公共假期以节省成本，这一措施很快被他的继任者放弃。新任总理塞巴斯蒂安·莱科尔努现在必须在严格审查下指导预算谈判。他的任务是在10月7日前向议会提交2026年预算草案，并可能延长至10月13日。法国的赤字是欧元区最大的，预计今年将达到GDP的5.4%。

France’s 10-year government bond yield pushed further above 3.5%, its highest since early September, after Fitch Ratings cut the country’s sovereign credit rating to A+ from AA-, the lowest on record. The agency cited political instability and mounting debt, underscoring fiscal concerns just as President Emmanuel Macron installs his fifth prime minister in two years. The downgrade followed the resignation of former Prime Minister François Bayrou last week, after he failed to rally support for a program of tax hikes and spending cuts. Bayrou had also floated an unpopular plan to eliminate two public holidays to save costs — a measure quickly abandoned by his successor. New Prime Minister Sébastien Lecornu must now steer budget talks under intense scrutiny. He is tasked with presenting a draft of the 2026 budget to parliament by October 7, with a possible extension until October 13. France’s deficit, the widest in the euro area, is projected at 5.4% of GDP this year.