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France EUR

France Index-Linked OAT Auction

Impact:
Low

Latest Release:

Date:
Actual:
 
Forecast:
Previous/Revision:  
Period:

Next Release:

Date:
Period:
What Does It Measure?
The France Index-Linked OAT Auction measures the government's ability to raise capital through the issuance of inflation-linked bonds, known as OATi (Obligations Assimilables du Trésor indexées), which are designed to protect investors from inflation. The primary focus is on the demand for government debt, assessing investor confidence and interest rates, while key indicators include the bid-to-cover ratio and the yield on the bonds issued.
Frequency
The France Index-Linked OAT Auction occurs quarterly, with specific dates announced in advance by the French Treasury; the data released includes final results reflecting the auction's outcome.
Why Do Traders Care?
Traders are attentive to the auction results as they indicate investor sentiment towards French government debt, inflation expectations, and monetary policy implications, which can consequently influence bond yields and the euro's strength against other currencies. Moreover, positive demand can boost stock prices, while weak results may lead to bearish reactions in financial markets.
What Is It Derived From?
The auction results are derived from competitive bidding where institutional investors and other market participants submit bids for the bonds being offered. The demand is assessed through the bid-to-cover ratio, which reflects the total bids received compared to the amount of bonds issued, influencing the final yield set at auction.
Description
The auction generates a preliminary report shortly after the auction concludes, providing initial results that are often revised later as final figures are confirmed. Typically, the preliminary data shows the immediate market's reaction, while final results provide a more comprehensive view of demand and pricing implications.
Additional Notes
The France Index-Linked OAT Auction acts as a coincident indicator of economic health, reflecting current investor sentiment and inflation expectations. It can also be compared with other bond auction results or economic indicators to assess wider economic trends in France and the Eurozone.
Bullish or Bearish for Currency and Stocks
Higher than expected: Bullish for EUR, Bullish for Stocks. Lower than expected: Bearish for EUR, Bearish for Stocks.

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
Oct 17, 2024
 
  
Aug 14, 2024