France’s Last Bond Sale Before Vote Signals Waning Market Angst
- Treasury raises €10.5b, the upper bound of its total target
- Wider spreads and lower chance of RN majority boost appetite
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France’s last bond sale before a final election round went smoothly, adding to signs the uncertainty that has roiled markets and triggered concerns over the nation’s finances is abating.
The Treasury raised €10.5 billion ($11.3 billion) from the offering of debt with maturities of up to 40 years, the maximum amount targeted. Bids across all four bonds were 2.58 times the total amount sold, higher than the demand seen at the two most recent sales of similar maturities.