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France’s credit rating downgrade: what comes next?Macro-economic newsOn 13 January 2012 Standard & Poor’s finally went through with its threat to downgrade France’s AAA credit rating. The news had been widely expected on markets since autumn and had practically no impact on French debt rates; the French OAT 10-year government bond had been hovering around 3.30% in December 2011 and was 3.10% on the Monday following the announcement of the AAA rating loss. Bond issues by the France-Trésor agency the followingThursday were subscribed in full under sound conditions. So, what happens next?
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06 February 2012