It's been a brutal five-week stretch for the Euro and while US Treasury yields have flown to fresh multi-decade highs, it's the run in French yields that's perhaps presented even more concern, even despite French yields being inside of US rates. The issue isn't an unfamiliar one as it strikes the same chord that presented issues with the sovereign debt crisis now almost 15 years ago, and this speaks to the experiment of a supra-national currency representing a very wide swath of economies that don't have shared budgets or debts.