French 10-year government bond yields just hit 3.632%, marking the highest level since 2011. This shift in Europe's sovereign debt market is worth tracking if you're watching macro trends. When yields climb this high, it typically reshuffles how capital flows—both traditional investors and crypto participants tend to reassess risk allocation. Higher bond returns can divert liquidity from riskier assets, which sometimes puts pressure on growth-focused markets including digital assets. The last time French yields were at this level was over a decade ago, so we're looking at a significant recalibration of European fixed income dynamics. Keep an eye on how this plays out across risk markets.