France’s 30-year government bond yield rose over 5 basis points on Tuesday, reaching its highest level since 2008, after Prime Minister Francois Bayrou announced a confidence vote in his own administration. Bayrou’s minority government could be deposed on September 8 after three major opposition parties declared they would not support him in a vote he called over his plans for drastic budget cuts. As of 9:12 am CET, the 30-year gilt was up by 5.7 basis points, yielding 4.415%, while the 10-year rose by 3.1 basis points to 3.521%. On the other hand, the 2-year Treasury yield dropped 3.3 basis points to 2.043% at the same time.