COUNTRY • FRANCE
Last Update: 27 Jun 2022 8:15 GMT+0

The France 10Y Government Bond has a 2.022% yield.

10 Years vs 2 Years bond spread is 133.2 bp.
Normal Convexity in Long-Term vs Short-Term Maturities.

Central Bank Rate is 0.00% (last modification in March 2016).

The France credit rating is AA, according to Standard & Poor's agency.

Current 5-Years Credit Default Swap quotation is 23.30 and implied probability of default is 0.39%.

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Residual
Maturity
Yield ZC Price Last
Change
Last Chg 1M Chg 6M Last Chg 1M Chg 6M
1 month -0.661% +3.7 bp +18.9 bp 27 Jun
3 months -0.517% +9.7 bp +27.8 bp 27 Jun
6 months -0.179% +23.8 bp +55.0 bp 27 Jun
9 months 0.261% +52.0 bp +93.2 bp 27 Jun
1 year 0.591% +60.6 bp +123.1 bp 99.41 -0.61 % -1.22 % 27 Jun
2 years 0.690% +43.7 bp +133.2 bp 98.63 -0.87 % -2.64 % 27 Jun
3 years 1.179% +56.1 bp +177.8 bp 96.54 -1.66 % -5.19 % 27 Jun
4 years 1.314% +53.4 bp +178.6 bp 94.91 -2.09 % -6.87 % 27 Jun
5 years 1.470% +55.2 bp +185.9 bp 92.96 -2.69 % -8.84 % 27 Jun
6 years 1.587% +56.1 bp +190.2 bp 90.99 -3.26 % -10.72 % 27 Jun
7 years 1.639% +55.0 bp +186.3 bp 89.25 -3.72 % -12.14 % 27 Jun
8 years 1.724% +54.5 bp +185.9 bp 87.22 -4.21 % -13.72 % 27 Jun
9 years 1.864% +55.4 bp +182.7 bp 84.69 -4.79 % -15.03 % 27 Jun
10 years 2.022% +52.8 bp +189.7 bp 81.86 -5.06 % -17.11 % 27 Jun
15 years 2.297% +52.7 bp +189.8 bp 71.13 -7.46 % -24.49 % 27 Jun
20 years 2.447% +51.3 bp +192.4 bp 61.66 -9.55 % -31.56 % 27 Jun
25 years 2.477% +47.9 bp +182.6 bp 54.24 -11.05 % -36.21 % 27 Jun
30 years 2.575% +47.6 bp +169.1 bp 46.64 -13.02 % -39.26 % 27 Jun
50 years 2.511% +39.5 bp +149.1 bp 28.94 -17.55 % -51.93 % 27 Jun
Last Update: 27 Jun 2022 8:15 GMT+0

France Yield Curve Analysis

Normally, longer-duration interest rates are higher than short-duration. So, the yield curve normally slopes upward as duration increases. For this reason, the spread (i.e. the yield difference) between a longer and a shorter bond should be positive. If not, the yield curve can be flat or inverted.
The curve convexity is measured considering some key bond durations (usually 2 years and 10 years, but also other maturities).
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Residual
Maturity
Yield Spread vs Bond Spread vs
Central Bank
Rate (0.00%)
3 months 1 year 2 years 5 years 10 years
30 years 2.575% 257.5 bp
10 years 2.022%
202.2 bp
5 years 1.470%
147.0 bp
2 years 0.690%
69.0 bp
1 year 0.591%
59.1 bp
3 months -0.517%
-51.7 bp
Focusing on 2 years Government Bond:
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2Y vs 1Y 9.9 bp Normal Convexity in Short-Term Maturities
5Y vs 2Y 78 bp Normal Convexity in Mid-Term vs Short-Term Maturities
10Y vs 2Y 133.2 bp Normal Convexity in Long-Term vs Short-Term Maturities

France Credit Ratings

A credit rating is an assessment of the creditworthiness of a borrower (in general terms or with respect to a particular debt or financial obligation). For a deeper analysis of credit ratings, click here France Credit Ratings History
Rating Agency Rating Outlook
Standard & Poor's
AA
-
Moody's Investors Service
Aa2
-
Fitch Ratings
AA
negative
DBRS
AA (high)
-

France Interest Rates

A bank rate is the interest rate at which a nation's central bank lends money to domestic banks, often in the form of very short-term loans.
Interest Rates Value
Central Bank Rate 0.00%

France Credit Default Swaps

The term credit default swap (CDS) refers to a financial derivative that allows an investor to swap or offset their credit risk with that of another investor. To swap the risk of default, the lender buys a CDS from another investor who agrees to reimburse the lender in the case the borrower defaults.
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Credit Default Swap CDS Value Var % 1W Var % 1M Var % 1Y Implied PD(*)
5 Years CDS 23.30 +3.56 % +4.95 % +3.10 % 0.39 %
(*) Implied probability of default, calculated on the hypothesis of a 40% recovery rate.

France 10Y Bond Yield Spread

The France 10Y Government Bond has a 2.022% yield. Click on Spread value for the historical serie.

A positive spread, marked by , means that the 10Y Bond Yield is higher than the corresponding foreign bond. Instead, a negative spread is marked by a green circle.

Click on the values in "Current Spread" column, for the historical series of the spread.
Click on the "Compare" button, for a report with the full comparison between the two countries, with all the available data.
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France 10Y vs Current Spread Chg 1M Chg 6M
Japan 10Y 179.4 bp +52.3 bp +172.7 bp Compare
Germany 10Y 53.0 bp +1.2 bp +16.3 bp Compare
United Kingdom 10Y -34.9 bp +8.1 bp +44.9 bp Compare
Spain 10Y -57.7 bp +1.7 bp -19.1 bp Compare
China 10Y -82.9 bp +42.7 bp +187.3 bp Compare
United States 10Y -113.8 bp +11.1 bp +21.6 bp Compare
Canada 10Y -131.1 bp -1.5 bp +4.0 bp Compare
Italy 10Y -158.6 bp -18.4 bp -59.2 bp Compare
Australia 10Y -175.9 bp -0.4 bp -29.0 bp Compare
India 10Y -541.1 bp +44.5 bp +92.9 bp Compare
Russia 10Y -666.8 bp +134.8 bp +162.2 bp Compare
Brazil 10Y -1064.6 bp +29.3 bp -7.7 bp Compare

France Government Bonds Prices

Price Simulation: bonds with a face value of 100, with different coupon rates. The highlighted column refers to the zero coupon bond.
Click on for a forecast of the yield.
If data are not all visible, swipe table left
Residual
Maturity
Yield Bond Price - with different Coupon Rates Fx
0% 1% 3% 5% 7% 9%
50 years 2.511% 28.94 57.24 113.84 170.44 227.04 283.64
30 years 2.575% 46.64 67.36 108.81 150.25 191.70 233.14
25 years 2.477% 54.24 72.72 109.66 146.61 183.55 220.50
20 years 2.447% 61.66 77.33 108.66 140.00 171.33 202.67
15 years 2.297% 71.13 83.70 108.84 133.97 159.11 184.25
10 years 2.022% 81.86 90.83 108.77 126.72 144.66 162.61
9 years 1.864% 84.69 92.90 109.33 125.76 142.19 158.63
8 years 1.724% 87.22 94.63 109.46 124.29 139.11 153.94
7 years 1.639% 89.25 95.81 108.94 122.06 135.19 148.31
6 years 1.587% 90.99 96.67 108.03 119.39 130.75 142.11
5 years 1.470% 92.96 97.75 107.32 116.90 126.47 136.04
4 years 1.314% 94.91 98.78 106.53 114.27 122.02 129.76
3 years 1.179% 96.54 99.48 105.34 111.20 117.06 122.92
2 years 0.690% 98.63 100.61 104.57 108.53 112.49 116.45
1 year 0.591% 99.41 100.41 102.39 104.38 106.37 108.36
Maturity Date 100.00 100.00 100.00 100.00 100.00 100.00

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