France EUR

France 3-Year OAT Auction

Impact:
Low
Source: Agence France Trésor

Latest Release:

Date:
Actual:
2.28%
Forecast:
Previous/Revision:
2.3%
Period:
What Does It Measure?
The France 3-Year OAT (Obligation Assimilable du Trésor) auction measures the government's ability to raise funds by issuing bonds with a maturity of three years. It primarily focuses on assessing investor demand for French government debt, the yield rate determined at auction, and overall market sentiment regarding the French economy.
Frequency
This event is conducted on a regular basis, typically held monthly, with results generally released within days following the auction.
Why Do Traders Care?
Traders monitor OAT auctions as they provide insights into fiscal health and investor confidence in the French economy. Outcomes from the auction can influence bond prices, the euro, and perceptions of the country’s creditworthiness, thus impacting broader financial markets significantly.
What Is It Derived From?
The auction results are derived from competitive and non-competitive bids submitted by a diverse group of market participants, including institutional investors, banks, and hedge funds. The yields are determined based on the bids received, reflecting the interest rates at which investors are willing to lend money to the French government.
Description
The preliminary data released shortly after the auction indicates initial interest in the bonds, while final data captures the settled issuance figures which might be revised later based on post-auction data. Typically, results indicate the yield and coverage ratio, with higher coverage suggesting strong demand relative to the amount issued.
Additional Notes
The 3-Year OAT auction can be seen as a leading indicator of market sentiment related to other economic measures such as inflation expectations and macroeconomic stability within the Eurozone. Compared to longer-term bonds, such as 10-year OATs, the 3-year bonds provide a snapshot of near-term financial sentiment and are closely watched by traders assessing short-term fiscal policies.
Bullish or Bearish for Currency and Stocks
Higher than expected demand at the auction: Bullish for the Euro, Bullish for Stocks. Lower than expected demand: Bearish for the Euro, Bearish for Stocks. A dovish tone: Signaling potential for lower interest rates or economic support, is usually good for the Euro but bad for Stocks due to lower borrowing costs.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number Better than forecast for the currency (or previous revise better)
Red Number Worse than forecast for the currency (or previous revise better)
Hawkish Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish Favors lower rates to boost growth, weakening the currency but lifting stocks.
Date Time Actual Forecast Previous Surprise
Jun 19, 2025
2.28%
2.3%
May 22, 2025
2.3%
2.32%
Apr 17, 2025
2.32%
2.59%
Mar 20, 2025
2.59%
2.57%
Feb 20, 2025
2.57%
2.51%
Jan 23, 2025
2.51%
2.45%
Nov 21, 2024
2.45%
2.42%
Oct 17, 2024
2.42%
2.45%
Sep 19, 2024
2.45%
2.86%
Aug 14, 2024
2.57%
2.86%
Jul 18, 2024
2.86%
3.04%
Jun 20, 2024
3.04%
2.84%
May 16, 2024
2.84%
2.85%
Apr 18, 2024
2.85%
2.71%
Mar 21, 2024
2.71%
2.67%
Feb 15, 2024
2.67%
2.56%
Jan 18, 2024
2.56%
2.45%
Dec 07, 2023
2.45%
2.98%
Nov 16, 2023
2.98%
3.32%
Oct 19, 2023
3.32%
3.27%
Sep 21, 2023
3.27%
3.12%
Aug 17, 2023
3.12%
3.05%
Jul 20, 2023
3.05%
3.03%
Jun 15, 2023
3.03%
2.69%
May 17, 2023
2.69%
2.93%
Apr 20, 2023
2.93%
2.7%
Mar 16, 2023
2.7%
2.82%