France’s First Bond Sale Since Vote Called Goes as Planned
- Treasury raises €10.5 billion in three-to-eight year debt
- Sales come as yield premium holds at highest since 2017
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France’s first bond sale since President Emmanuel Macron last week called a snap election was met with solid demand, a sign the political uncertainty is not deterring new buyers.
The Treasury in Paris raised €10.5 billion ($11.3 billion) through auctions of three- to eight-year bonds on Thursday, matching the upper end of their target. Bids across all four sales were 2.41 times the total amount sold — broadly in line with the 2.63 times and 2.37 times seen at the previous two sales of similar maturities.