France’s 10-year OAT yield traded near 3.45% as investors assessed the European Central Bank’s policy outlook and awaited key economic data, notably the upcoming US jobs and CPI reports. The ECB kept interest rates unchanged at last week’s meeting and reaffirmed that inflation is projected to return sustainably to its 2% medium-term target. President Christine Lagarde adopted a balanced tone, describing the euro area’s inflation outlook as being in a “good place” and playing down concerns over the euro’s recent appreciation. She also cautioned that economic data could be volatile in the coming months and should not be interpreted in isolation when guiding policy decisions. Investors additionally absorbed news that Bank of France Governor François Villeroy de Galhau will step down on June 1, 2026, before the scheduled conclusion of his mandate in autumn 2027.

The yield on France 10Y Bond Yield eased to 3.42% on February 10, 2026, marking a 0.02 percentage points decrease from the previous session. Over the past month, the yield has fallen by 0.08 points, though it remains 0.27 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. Historically, the France 10-Year Government Bond Yield reached an all time high of 11.85 in October of 1987. France 10-Year Government Bond Yield - data, forecasts, historical chart - was last updated on February 10 of 2026.

The yield on France 10Y Bond Yield eased to 3.42% on February 10, 2026, marking a 0.02 percentage points decrease from the previous session. Over the past month, the yield has fallen by 0.08 points, though it remains 0.27 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. The France 10-Year Government Bond Yield is expected to trade at 3.42 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 3.24 in 12 months time.



Bonds Yield Day Month Year Date
France 10Y 3.43 -0.017% -0.077% 0.270% Feb/10
France 1M 2.01 -0.017% 0.035% -0.559% Feb/10
France 52W 2.06 -0.014% -0.043% -0.197% Feb/10
France 20Y 4.10 -0.024% -0.038% 0.592% Feb/10
France 2Y 2.16 -0.014% -0.054% -0.080% Feb/10
France 30Y 4.41 -0.020% -0.010% 0.665% Feb/10
France 3M 2.02 0.0001% -0.018% -0.462% Feb/10
France 3Y 2.32 -0.009% -0.076% -0.038% Feb/10
France 5Y 2.71 -0.015% -0.097% 0.069% Feb/10
France 6M 2.06 0.022% -0.067% -0.345% Feb/10
France 7Y 2.99 -0.017% -0.097% 0.142% Feb/10



Related Last Previous Unit Reference
France Inflation Rate 0.30 0.80 percent Jan 2026
France Interest Rate 2.15 2.15 percent Feb 2026
France Unemployment Rate 7.90 7.70 percent Dec 2025

France 10-Year Government Bond Yield
Generally, a government bond is issued by a national government and is denominated in the country`s own currency. Bonds issued by national governments in foreign currencies are normally referred to as sovereign bonds. The yield required by investors to loan funds to governments reflects inflation expectations and the likelihood that the debt will be repaid.
Actual Previous Highest Lowest Dates Unit Frequency
3.42 3.44 11.85 -5.84 1985 - 2026 percent Daily

News Stream
French Bond Yields Little Changed
France’s 10-year OAT yield traded near 3.45% as investors assessed the European Central Bank’s policy outlook and awaited key economic data, notably the upcoming US jobs and CPI reports. The ECB kept interest rates unchanged at last week’s meeting and reaffirmed that inflation is projected to return sustainably to its 2% medium-term target. President Christine Lagarde adopted a balanced tone, describing the euro area’s inflation outlook as being in a “good place” and playing down concerns over the euro’s recent appreciation. She also cautioned that economic data could be volatile in the coming months and should not be interpreted in isolation when guiding policy decisions. Investors additionally absorbed news that Bank of France Governor François Villeroy de Galhau will step down on June 1, 2026, before the scheduled conclusion of his mandate in autumn 2027.
2026-02-09
French OAT Yields Steady as ECB Holds Rates
France’s 10-year OAT yield was slightly below 3.45% after the European Central Bank kept interest rates unchanged, reiterating that inflation is expected to converge toward its 2% target over the medium term. The ECB said the euro area economy remains resilient, but cautioned that the outlook is clouded by global trade policy uncertainty and ongoing geopolitical tensions. At the ECB press conference, President Lagarde reiterated that both the central bank and the euro area inflation outlook are in a “good place,” while cautioning that inflation readings may fluctuate in the months ahead amid higher uncertainty. Meanwhile, domestic factors also remained in focus after France’s 2026 state budget was approved earlier this week, ending months of political deadlock that had heightened concerns over fiscal risks. The deficit target was revised higher to close to 5% of GDP, up from an initial goal of 4.7%, reflecting concessions made to secure parliamentary approval.
2026-02-05
France’s 10-Year OAT Yield Falls as Inflation Eases
France’s 10-year OAT yield eased to 3.44%, near its lowest level since late November, as markets digested weaker eurozone inflation data. January’s CPI slowed to 1.7%, well below the ECB’s target, while core inflation unexpectedly fell to 2.2%, its lowest since October 2021, raising the prospect that a stronger euro could prompt a resumption of rate cuts paused in June. The ECB is set to announce policy on Thursday and is widely expected to keep rates unchanged for a fifth consecutive meeting, with ECB President Christine Lagarde expected to reiterate that policy remains in a “good place.” Meanwhile, France’s 2026 state budget was approved by parliament on Monday, ending a months-long stalemate that had fueled concerns over rising fiscal risks in the eurozone’s second-largest economy. Prime Minister Sébastien Lecornu had initially targeted a 4.7% of GDP deficit, but political concessions pushed the figure closer to 5%.
2026-02-04