France Bill Auction Sees Rates Fall After Downgrade
January 16, 2012
Europe Update: Rates Fall at France Bill Auction
Despite the rating downgrade of France’s sovereign debt rating by S&P on Friday, rates declined at Monday’s T-Bill auction.
France sold € 8.6 billion in T-Bills with durations ranging from 12-51 weeks on Monday.
France sold €4.50 billion of 12-week T-Bill at an average yield of 0.165%, which was down from the previous rate 0.166%. The bid-to-cover 1.897 .
France sold €2.192 billion of 25-week T-Bill at an average yield of 0.281%, which was down from the previous rate 0.286%. The bid-to-cover 2.053 .
France sold €1.895 billion of 51-week T-Bill at an average yield of 0.406%, which was down from the previous rate 0.454%. The bid-to-cover 2.108 .
iShares France - Last 12 Month
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