France raised capital and paid 3.18% on 10-year notes. The news may help the nation make a case for its AAA rating. Unlike other nations in the region, its cost to raise money has dipped slightly.
According to Bloomberg
The French government sold 4.346 billion ($5.87 billion) in debt in its last sale of long-term bonds this year, with the auction drawing three times more bids than securities on offer.
France paid 3.22% at its last auction on November 3.
It may be that actions taken by central banks to make access to capital easier could have helped the France offering. It may also be that there is still a belief that France, along with Germany, will escape a deep recession..That case is hard to make if all of their neighbors have contractions of consumer spending. The trade fortunes of nations in the region are too closely tied together.
France has gotten a reprieve, for now.
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