FX/Bonds

France sells EUR 13.999bln vs exp. EUR 12-14bln 2.40% 2029, 1.50% 2031, 3.25% 2032 and 3.50% 2033 OAT

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France auctioned EUR 13.999bn in OATs, hitting the high end of its target. Yields rose across all compared maturities, while demand was mixed, with the 2029 tenor seeing lower interest.

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2.40% 2029: b/c 2.70x (prev. 3.22x) & average yield 3.04% (prev. 2.85%) 1.50% 2031: b/c 3.11x & average yield 3.23% 3.25% 2032: b/c 2.64x (prev. 2.66x) & average yield 3.35% (prev. 3.13%) 3.50% 2033: b/c 2.67x (prev. 2.60x) & average yield 3.58% (prev. 3.48%)

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