French Debt: the OAT Is About 5%, the Alarm Remains Despite the Budget
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French interest spending will increase by 12 billion euros, exceeding 25% of the new measures in the Le Corneille budget. A new "thriller" is coming for its approval.
The French rate at ten years has nearly 5% on Thursday 1 October before falling to 4.83% after the presentation of the 2027 budget. The one-off relaxation does not dispel the alarm: the state will have to borrow a record amount next year, while its interest burden is approaching 91 billion euros.
The budget of 2027 shoots the profitability of the French bond to 4.93% ten years while the fiscal supervisor questions a path that aims to reduce the deficit to 5% of GDP and bring it below 3% in 2029.
The Agence France Trésor again ensured liquidity on Thursday on the award of the OATs at 10, 11, 12 and 22 years. But at a high price for the French state which presented its draft budget at the same time.
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