The French Election Is Ignoring the Bond Market

The chief executive officer of insurance company AXA SA, Thomas Buberl, didn’t mince words Tuesday about the severity of France’s debt problem as global bond yields rise and the country’s risk premium over Germany hits its highest level in more than a decade. He called for reforms to get public finances under control and said a proposal by the far left to cancel debt held at the central bank was “dangerous” and “play(ing) with fire.”