French 10-Year Bonds Open Lower After Moody’s Cuts Credit Rating
French 10-year bonds opened lower after Moody’s Investors Service stripped the nation of its top credit rating.
The yield on the securities rose two basis points, or 0.02 percentage point, to 2.09 percent as of 7:09 a.m. London time.
France was cut to Aa1 from Aaa, the rating company said yesterday. The Moody’s downgrade follows a similar cut by Standard & Poor’s in January.
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