France is also being affected by the market volatility as the premium it pays for debt over Germany hit a new euro-era high on Tuesday.

法国也受到市场波动的影响——法国国债与德国国债之间的息差周二创出欧元时代的新高。

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One attractive feature of euro-denominated debt is that it pays a higher yield.

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The government borrows money to make up the difference between what it pays and what it takes in, and the debt ceiling is a cap set by Congress on the amount of debt the federal government can legally borrow.

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It is generating enormous cash flows, pays a 4.5% dividend (which it just raised), and will be debt-free in the not too distant future.

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