Government bond auction · France
France 2040 OAT Auction
The France 2040 OAT Auction is a sale of new government debt by France's treasury or debt agency to investors.
- Importance
- Low
- Released
- Twice a year
- Currency
- EUR · euro
- Central bank
- The European Central Bank (with the Banque de France)
Latest figures
The latest release, published on 3 September 2026, came in at 4.51%, up from 3.95% the time before.
Over the last 4 releases it ranged from 3.70% to 4.51%, averaging 4.01%; it has been rising for three releases in a row.
| Released | For | Actual | Consensus | Previous |
|---|---|---|---|---|
| 3 Sep 2026 | – | 4.51% | – | 3.95% |
| 8 Jan 2026 | – | 3.95% | – | 3.89% |
| 4 Dec 2025 | – | 3.89% | – | – |
| 7 Aug 2025 | – | 3.70% | – | 3.21% |
Why it matters
Auctions show the demand for a country's debt. A weak auction (low cover ratio, a yield above where the bond traded before the sale, the "tail") can push yields up across the market; a strong one calms them. In times of fiscal stress auctions get close attention.
How it is calculated
Bidders submit the yield (or price) at which they will buy; the debt office allocates from the lowest yield up until the amount is sold. The release reports the average or highest yield and the bid-to-cover ratio.
Bid-to-cover = amount bid ÷ amount soldWhat changes mean
- Bid-to-cover above its recent average and no tail: solid demand.
- Index-linked and green bonds are smaller auctions with their own investor base.
A short history
Most governments moved from fixed-price syndicates to regular auctions in the 1970s–1990s; the US Treasury has auctioned bills since 1929.
Questions
What is the France 2040 OAT Auction?
The France 2040 OAT Auction is a sale of new government debt by France's treasury or debt agency to investors.
What was the latest France 2040 OAT Auction?
4.51%, published on 3 September 2026.
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.