Arab Today, arab today france pays historic low rate at 10year bond sale
Last Updated : GMT 06:11:27
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France pays historic low rate at 10-year bond sale

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Arab Today, arab today France pays historic low rate at 10-year bond sale

Paris - AFP

France raised almost three billion euros ($3.8 billion) via a 10-year bond auction at its lowest rate ever, Agence France Tresor, which managed the auction, said Thursday. The eurozone\'s second biggest economy paid an interest rate of 2.21 percent, compared with 2.53 percent during the last similar operation on July 5, the agency said, below the previous historic low of 2.46 percent set on June 7. French bonds have also traded at historic lows on secondary sovereign debt markets, with its benchmark 10-year issue flirting with 2.0 percent last month as investors look to park funds in bonds issued by the most solid eurozone economies. Paris has even managed to issue short-term bills of three and six months at negative rates, which means investors were willing to pay to lend their money. On Thursday, the country also issued five-year bonds worth 1.53 billion euros at 1.05 percent, and 15-year bonds worth 3.45 billion euros at 2.85 percent, another record. Financial markets were waiting on Thursday for the results of a governing council meeting by the European Central Bank, which could include details of a revamped ECB bond-purchase programme. If the central bank decides to resume its controversial purchases of debt issued by troubled eurozone governments, the move would ease pressure on high borrowing costs faced by Italy and Spain in particular. Earlier on Thursday, Spain borrowed 3.5 billion euros in two-, three-, and four-year bonds at lower rates owing to market expectations of an ECB decision.

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