France gets bond away but euro at 15-month low
FRANCE managed to sell just under €8bn of 10- to 30-year bonds today but investor demanded higher returns for their purchase.
The country sold €4bn in 10 year bonds, for example, when investors demanded a yield, or interest rate, of 3.29pc compared with 3.18pc at a similar earlier auction reflecting the concerns about eurozone countries debts as well as fears that the country will lose its AAA rating.
Fears for the region’s debt crisis is also putting ongoing pressure on the euro which fell to a 15-month low today to $1.2832.
Stock markets were also lower while the cost of Italian borrowing hit over 7pc – the level considered “unsustainable” by economists.