French 10-Year Bonds Advance After Borrowing Costs Fall at Bills Auction

French 10-year government bonds rose, pushing the yield on the securities down four basis points to 3.04 percent at 2:15 p.m. London time, after borrowing costs at a sale of treasury bills fell.

The nation’s two-year note yield dropped six basis points to 0.65 percent.

France sold 1.895 billion euros of 51-week notes at a yield of 0.406 percent, down from 0.454 percent on Jan. 9, the first sale since a rating downgrade by Standard & Poor’s. The Treasury also sold 4.503 billion euros of three-month notes and 2.192 billion euros six month bills. Yields fell on both.

To contact the reporter on this story: Keith Jenkins in London at kjenkins3@bloomberg.net

To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net

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