Meanwhile, France Is Borrowing Money For Next To Nothing

French Cigar Smoker, Bastille Day

Photo: Wikimedia Commons

France just wrapped up an extraordinary bond auction, just minutes after Spain’s ugly bond auction.3-year debt sold for 0.12%, which was way down from the already low 1.09% paid at a similar auction in February.

4-year debt sold for 0.53%, which was way down from 1.89% at a similar auction in January.

France’s fiscal situation isn’t particularly great.  But it’s better than Spain’s, and bond buyers are rewarding them for it.

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