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Yields Pull Back at French OAT Bond Auction

by The "State" Team

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Europe Update: French Bond Auction

France sold €7.962 billion of long-term OAT bonds on Thursday, at the top of its €6.5B-€8B target range.

France sold €5.7 billion of 10-year bonds with a 3% coupon at an average yield of 3.13%, down from 3.29% at the last auction on 5-Jan. The bid-to-cover was 1.7.

France also sold €1.011 billion of bonds due in 2018 at a yield of 2.44%, down from 3.27% the last time they were auctioned on 8-Mar-11. The bid-to-cover was 4.3.

Finally, France sold €1.253 billion of bonds due in October 2020 at 2.91%, down from 3.64% at the last auction on 10-May. The bid-to-cover was 4.0.

 

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