Thursday, April 4, 2013

French 10-year bond yields drop to record low in auction.

France has sold €2B of 10-year bonds at a record low yield of 1.94%, down from 2.1% in a previous sale. The drop comes despite the economy being ensconced in a slump - with composite and services PMI data today being the latest indication of France's woes - and despite the government being mired in a tax scandal.