Bond Traders Favor French Bank Bonds over Government Debt as Sovereign Risk Climbs
7 Articles
7 Articles
The hedge funds provide more than half of the European bond trade. France, which holds one of the highest debts in the Old Continent, is concerned about these creditors with a less predictable profile than that of public institutions, banks or insurers.
The French government is cutting its growth forecast and expecting more new debt, which is causing a historic shift in bond markets.
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The shift to bank bonds over government debt in France highlights growing concerns about sovereign risk, impacting investor strategies.
France's public debt has reached 117% of its national income, making it one of the highest debt ratios in Europe. This process has also seen a notable shift in the investor profile associated with the debt...
France's debt interest bill is rising by 25 percent this year to 65 billion euros. Interest payments are exceeding education and defense spending, growth forecasts have been lowered to 0.5 percent, and the 10-year bond yield has reached its highest level since 2008.
France projected that the cost of servicing its national debt would rise by 25% this year; to 65 billion euros, as a burden of a total debt of 3.5 trillion euros in the first quarter of this year, affected by the worsening geopolitical crises and turmoil in global bond markets. The French Finance Minister, Roland Lescore, quoted the newspaper The Financial Times, as saying: "Today we spend more on debt servicing [...] France expects that the deb…
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