France's 30-year yield pauses near 2011 highs amid political risk

LONDON, Aug 27 (Reuters) - France's 30-year yield paused for breath on Wednesday after hitting its highest since 2011 amid political uncertainty, and as President Donald Trump’s attempt to fire a Federal Reserve Governor raised concerns about the central bank's independence.

The prospect that France's minority government could collapse triggered a sharp selloff in French stocks and bonds on Tuesday after the main opposition parties said that they would not back a confidence vote which Prime Minister Francois Bayrou announced for September 8 over his plans for sweeping budget cuts.

The political turmoil in France added to worries in global bond markets about the independence of the Fed.

Fed Governor Lisa Cook will file a lawsuit to prevent Trump from firing her, a lawyer for Cook said.

The French 30-year yield FR30YT=RR edged 1 basis point lower at 4.38%, after hitting its highest since November 2011 on Tuesday.

The French 10-year yield FR10YT=RR was also 1 bp lower ​​at 3.49%, having hit a five-month high on Tuesday.

German 10-year bond yield DE10YT=RR, the benchmark for the euro zone bloc, was 1.2 bps lower at 2.71%.

The gap between French and German 10-year yields, a gauge of the premium investors require to hold riskier French debt, was last at 77 bps, after jumping to more than 79 bps at one stage on Tuesday, its highest since April. DE10FR10=RR

The gap between French and Italian spreads, which was more than 150 bps just two years ago, narrowed to 8 bps. FR10IT100=RR