French Borrowing Costs Drop at Last Bond Sale Before Vote
France raised 7.43 billion euros ($9.76 billion) through a debt sale today, close to the maximum it sought. Borrowing costs fell.
France had targeted 7.5 billion euros in securities. It sold 3.32 billion of benchmark 10-year bonds at an average yield of 2.96 percent compared with 2.98 percent in the last auction on April 5. Spain today sold 2.52 billion euros of bonds, compared with a maximum target of 2.5 billion euros at an auction in Madrid today. Yields jumped.
The French sale is last before the nation’s presidential election on May 6. President Nicolas Sarkozy is trailing in the polls behind Socialist challenger Francois Hollande.
To contact the editor responsible for this story: Vidya Root at vroot@bloomberg.net
France Sells EU7.431 Billion in Bonds as Borrowing Costs Fall
Balint Porneczi/Bloomberg
France sold 3.32 billion of benchmark 10-year bonds at an average yield of 2.96 percent compared with 2.98 percent in the last auction on April 5.
France sold 3.32 billion of benchmark 10-year bonds at an average yield of 2.96 percent compared with 2.98 percent in the last auction on April 5. Photographer: Balint Porneczi/Bloomberg
May 3 (Bloomberg) -- Didier Saint-Georges, a member of the investment committee at Carmignac Gestion, discusses the outlook for the French economy. He speaks with David Tweed in Paris on Bloomberg Television's "The Pulse." (Source: Bloomberg)
Rate this Page
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.