France monthly reference rate: 7-year bond yield TME
France monthly reference rate: 7-year bond yield TME stood at 4.49% in Sep 2026, according to Banque de France – Webstat (webstat.banque-france.fr). It is one of the indicators in the Debt securities issuance table (Value · Monthly), with a complete series running from Oct 2004 to Sep 2026. The complete series with an interactive chart, free to download.
This indicator in the Debt securities issuance table
| Indicator | 09-2026 | 08-2026 | 07-2026 | 06-2026 | 05-2026 | 04-2026 | 03-2026 | 02-2026 | 01-2026 | 12-2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Monthly reference rates | |||||||||||
| Average yield on government bonds over 7 years (TME) | 4.49 | 4.05 | 3.9 | 3.73 | 3.79 | 3.78 | 3.69 | 3.45 | 3.58 | 3.61 | |
| Average primary market yield on bond issues over 7 years (TMO) | 4.69 | 4.25 | 4.1 | 3.93 | 3.99 | 3.98 | 3.89 | 3.65 | 3.78 | 3.81 |
Understanding france monthly reference rate: 7-year bond yield TME
Secondary market trading levels of sovereign bonds with a residual maturity near seven years are summarized through a standard monthly average yield benchmark. This metric reflects prevailing market pricing and investor sentiment for medium-duration public debt, serving as an operational reference rate for financial contracts. Unlike primary auction rates, it captures continuous daily transactions executed among institutional market participants.
Interpreting this rate requires acknowledging that it moves inversely to secondary market bond prices, driven by broader monetary policy expectations and macroeconomic conditions. Monthly figures smooth out daily volatility, making the series suitable for medium-term analytical comparisons. Observers should avoid confusing this secondary market indicator with primary issuance yields, as existing bonds trade at premiums or discounts relative to newly auctioned paper.
Frequently asked questions
- What does the abbreviation TME represent in this context?
- It designates the historical French average yield on government bonds over seven years calculated on the secondary market.
- How is this monthly average calculated from daily data?
- It represents the arithmetic mean of daily observed secondary market yields across all trading days in the reference month.
- Does this rate apply to all outstanding government debt?
- It specifically reflects securities with a remaining maturity close to the seven-year benchmark.