France Sells 10-Year Bonds With Highest Yield Since Election

France paid the most to borrow for 10 years since President Francois Hollande was elected, on prospects the economic recovery that began in the second quarter will strengthen further.

The treasury sold 4.24 billion euros ($5.59 billion) of 2023 debt at an average yield of 2.57 percent, the highest at any auction since May 2012. It also sold 2.49 billion euros in 2021 securities at an average yield of 2.17 percent -- more than 1.42 percent on May 2 -- and 1.66 billion euros 2045 debt at 3.6 percent.