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French Finance Minister: rising U.S. bond yields show that ‘era of cost-free money is over’

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Reuters UK

PARIS (Reuters) – French Finance Minister Bruno Le Maire told France 2 television on Tuesday that the rise in U.S. bond yields showed that the “era of cost-free money” was over. Le Maire added it wold cost France several billion euros to pay back its debt to the market, which showed that importance of sticking to a “balanced and coherent” fiscal policy. U.S. equities tumbled on Monday, with the S&P 500 confirming it is in a bear market, as fears grow that the expected aggressive interest rate hikes by the Federal Reserve would push the economy into a recession. [.N] Last week, the European Cen…

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