France 10-year constant maturity bond yield (TEC)
France 10-year constant maturity bond yield (TEC) stood at 4.79% on Oct 16, 2026, according to Banque de France – Webstat (webstat.banque-france.fr). It is one of the indicators in the Daily debt market rates table (Value · Daily), with a complete series running from Nov 3, 2004 to Oct 16, 2026. The complete series with an interactive chart, free to download.
This indicator in the Daily debt market rates table
| Indicator | 16-10-2026 | 15-10-2026 | 14-10-2026 | 13-10-2026 | 12-10-2026 | 09-10-2026 | 08-10-2026 | 07-10-2026 | 06-10-2026 | 05-10-2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Constant maturity rates of French government bonds (TEC) | |||||||||||
| 10-year constant maturity rate | 4.79 | 4.74 | 4.81 | 4.82 | 4.86 | 4.8 | 4.9 | 4.83 | 4.72 | 4.88 | |
| 15-year constant maturity rate | 5.11 | 5.07 | 5.14 | 5.14 | 5.18 | 5.1 | 5.2 | 5.13 | 5.01 | 5.17 |
Understanding france 10-year constant maturity bond yield (TEC)
This metric provides the ten-year constant maturity yield for French sovereign obligations, representing the benchmark reference point for long-term borrowing costs within the national financial architecture. As the premier gauge for long-term sovereign debt, this ten-year duration incorporates long-horizon inflation expectations, structural economic growth forecasts, and sovereign risk premiums. The mathematical model synthesizes transaction data across multiple physical bonds to eliminate the noise of individual coupon rates and remaining maturities, focusing exclusively on nominal fixed-rate debt. Excluded categories comprise short-term commercial debt, inflation-protected state issues, and all non-governmental fixed-income securities.
Reading this series accurately requires examining absolute yield levels and daily basis-point movements within the broader context of international bond market developments. Seasonal adjustments are unnecessary because trading activity prices in expectations dynamically without cyclical calendar bias. Analysts must avoid comparing this secondary market benchmark directly against primary issuance coupon rates, as primary auctions reflect specific bidding conditions on a single day. When evaluating historical trends, users should remain mindful that regulatory reforms or shifts in the underlying interpolation methodology can occasionally create subtle historical discontinuities.
Frequently asked questions
- Why is the ten-year yield considered the primary economic benchmark?
- It serves as the universal reference rate for long-term borrowing, mortgage pricing, and macroeconomic sentiment across global financial markets.
- Does this series track a single specific government bond issue?
- No, it uses a constant maturity formula that interpolates across various active bonds to maintain a theoretical ten-year duration.
- How should daily volatility in this series be interpreted?
- Daily changes reflect immediate shifts in global risk sentiment, monetary policy outlooks, and fiscal announcements rather than underlying structural economic changes.