France 25-year constant maturity bond yield (TEC)
France 25-year constant maturity bond yield (TEC) stood at 5.22% 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 Oct 24, 2006 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) | |||||||||||
| 25-year constant maturity rate | 5.22 | 5.18 | 5.23 | 5.23 | 5.27 | 5.19 | 5.29 | 5.23 | 5.13 | 5.26 | |
| 30-year constant maturity rate | 5.36 | 5.32 | 5.37 | 5.37 | 5.41 | 5.36 | 5.45 | 5.39 | 5.28 | 5.43 |
Understanding france 25-year constant maturity bond yield (TEC)
This series calculates the twenty-five-year constant maturity yield for French government securities, utilizing an interpolation model to evaluate the pricing of nominal state debt across an extended time horizon. This ultra-long duration measure captures deep structural economic expectations, very long-range inflation risks, and specialized institutional portfolio balancing pressures. The underlying data aggregation standardizes various physical bond issues into a single representative percentage for a twenty-five-year lifespan, excluding shorter-term paper, inflation-linked instruments, and any non-sovereign debt. Compared to intermediate maturity rows, this series highlights the pricing of extreme duration risk in public finances.
When reading this indicator, analysts should evaluate shifts in basis points relative to the twenty-year and thirty-year benchmarks rather than expecting predictable cyclical patterns, as financial yields are non-seasonal. Because liquidity in the ultra-long secondary market can be thinner than in benchmark ten-year debt, daily changes may occasionally reflect idiosyncratic trading block dynamics rather than broad macroeconomic shifts. Historical comparisons must account for potential methodological updates in curve construction over the years. Observers should avoid treating this specialized ultra-long yield as representative of general government borrowing costs, which are more accurately captured by shorter benchmark maturities.
Frequently asked questions
- What is the primary utility of tracking a twenty-five-year yield?
- It provides insight into the cost of ultra-long borrowing and helps institutional investors price multi-decade liabilities.
- How is the twenty-five-year constant maturity calculated given a lack of exact matching bonds?
- An interpolation algorithm fits a yield curve across available adjacent bond issues to estimate the exact rate for a twenty-five-year duration.
- Is this series subject to routine data revisions?
- No, data values reflect finalized daily market pricing and are virtually never revised barring technical correction events.