Higher sovereign borrowing costs gradually affect public finances, household and corporate funding, and the balance sheets of banks and insurers.
This French-language analysis examines refinancing, the OAT–Bund spread, comparisons with the former PIIGS countries and possible adjustment scenarios. It also covers insurers’ investment returns, asset values, asset-liability management, surrenders, liquidity and solvency.
Xavier Robitaille · 21 October 2026 · French-language PDF
Source references are included in the PDF footnotes.