In France, for the first time this year, if we except a short period during Summer, the 10 years State Bond went back on December 3^rd into negative territory : -0.03%. So, against the forecasts stated many times by the economists and despite the spectacular increase of the public indebtedness since the beginning of the sanitary crisis, France financing conditions remain extremely favorable. But it is not an exception in Europe. Germany keeps its 30 to 40 basis points spread with Paris and has issued these last days 10 years bonds carrying a -0.39% rate. In the Unites ...

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Since the beginning of August, the French State 10 Years-Bonds rate has fluctuated between -0.14% and -0.20%. We must come back to 2020 autumn at the top of the second wave of the Covid-19 pandemic to find so low interest rates. The trend is general in the euro zone and the spread between the countries said “virtuous” and the southern countries has not stopped to narrowing. Between France and Germany, it little oscillates around 35 basis points when the difference between their public indebtedness ratios is huge, with 75% of the GDP for Germany and near 120% in ...

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Since the beginning of May, the State has issued bonds for a record amount, 34.4 billion, through two Treasury Bonds issues, which brought as a total 21.6 billion carrying a -0.5% negative interest rate and 13.8 billion through mid and long term maturities bonds, an amount to which must be added an emission premium for an amount of 1.4 billion, generated by a 4% 2060 Bond. During the same period in 2019, with the same number of issues, the State got a one and half lower amount, i.e. around 20 billion. The huge expenses ...

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