Hollande Economic Woes Masked by Cyprus Fig Leaf: Euro Credit
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French President Francois Hollande is basking in borrowing costs at near record lows, helped most recently by investors seeking shelter from problems in Cyprus.
The yield on France’s benchmark 10-year bond fell 4 basis points to 2.026 percent during the 10 days as European authorities roiled markets by imposing a tax on depositors in Cypriot banks. The French rate is just short of the all-time low of 1.92 percent reached in December.