Government bond auction · France
France 4-Year OAT Auction
The France 4-Year OAT Auction is a sale of new government debt by France's treasury or debt agency to investors.
- Importance
- Low
- Currency
- EUR · euro
- Central bank
- The European Central Bank (with the Banque de France)
Latest figures
The latest release, published on 20 February 2025, came in at 2.70%, down from 2.74% the time before.
| Released | For | Actual | Consensus | Previous |
|---|---|---|---|---|
| 20 Feb 2025 | – | 2.70% | – | 2.74% |
| 23 Jan 2025 | – | 2.74% | – | 2.6% |
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 4-Year OAT Auction?
The France 4-Year OAT Auction is a sale of new government debt by France's treasury or debt agency to investors.
What was the latest France 4-Year OAT Auction?
2.70%, published on 20 February 2025.
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.