France 5-year constant maturity bond yield (TEC)
France 5-year constant maturity bond yield (TEC) stood at 4.14% 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) | |||||||||||
| 5-year constant maturity rate | 4.14 | 4.11 | 4.16 | 4.17 | 4.2 | 4.11 | 4.2 | 4.16 | 4.08 | 4.26 | |
| 7-year constant maturity rate | 4.45 | 4.41 | 4.47 | 4.48 | 4.51 | 4.44 | 4.53 | 4.47 | 4.39 | 4.55 |
Understanding france 5-year constant maturity bond yield (TEC)
This indicator captures the five-year constant maturity yield for French state debt, reflecting the interpolated return on a synthetic bond with precisely five years remaining until redemption. This specific maturity frequently serves as a pivotal benchmark for medium-term corporate borrowing and hedging contracts, distinguishing itself from shorter durations by incorporating medium-term fiscal trajectory expectations. The underlying compilation draws from active secondary market transactions, standardizing distinct coupon structures and settlement dates into a single comparable percentage. Excluded from this metric are bills, private sector bonds, and any specialized sovereign instruments featuring variable or inflation-linked coupons.
When reviewing this series, analysts should prioritize daily and weekly changes over longer-term percentage shifts, maintaining awareness that sudden macroeconomic data releases can trigger sharp intraday adjustments. There is no requirement for seasonal adjustment since financial yields respond continuously to market news rather than recurring calendar patterns. Early estimates are definitive unless technical corrections to the underlying pricing database are applied. Direct comparisons with corporate debt of identical duration require factoring in the superior liquidity and lower credit risk profile inherent in sovereign paper.
Frequently asked questions
- Why is the five-year maturity considered a key market benchmark?
- Market participants frequently use the five-year point as a standard duration for hedging intermediate interest rate risk and pricing medium-term corporate debt.
- Does this rate reflect actual coupon payments of a specific bond?
- It represents a synthetic yield derived by curve interpolation across multiple actual bonds, rather than the coupon or yield of any single physical security.
- Are revisions common for constant maturity yields?
- Revisions are exceptionally rare and typically restricted to rare database correction events rather than routine data updates.