Thursday, July 26, 2018

[Exclusive] France’s Public Debt Is No International Success

France will not publish a list of countries holding its public debt, contrary to the United States, for example. We found out recently that Russia and, to a lesser extent, China and Japan, have been dumping their American Treasury bonds. This information is quite important and significant, because it illustrates a “de-dollarization” that is seen through other signals. But for the French debt, we know nothing. The sole element that is communicated officially is the part owned by foreign holders (the “non-residents”), currently at 55%, without any more precise indicators. But we have nevertheless found, in exclusivity, some data. Although there exists much lighter summer reading, Agence France Trésor (the agency in charge of the public debt’s) 2017 annual report publishes a rundown by country in regard with two specific debt issuances: - The first one is a fungible Treasury bond (OAT) with a 30-year duration issued on May 16, 2017, for an amount of 7 billion euro (page...

from GoldBroker.com https://www.goldbroker.com/news/exclusive-france-public-debt-is-no-international-success-1365

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