The French Treasury projects 3 month bills at 3% and the 10 year benchmark at 4.3% for the 2027 period. These interest rates reflect an increasingly expensive backdrop for the funding of public finances as the country manages the upcoming debt wave.
Tuesday, October 20, 2026
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Global Markets21 days ago
The borrowing requirement for the French state is €339.7 billion for 2027. To meet this demand, the Agence France Trésor will issue €340 billion in medium and long term bonds, net of buybacks. This issuance is driven by €189.2 billion in debt redemptions, a record amount that increases pressure on the government to refinance its obligations.

The French Treasury projects 3 month bills at 3% and the 10 year benchmark at 4.3% for the 2027 period. These interest rates reflect an increasingly expensive backdrop for the funding of public finances as the country manages the upcoming debt wave.
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