Analysis of Sovereign Yield Spreads Behavior: The French Bonds Case

Aleksandar Vasilev

EconStor Open Access Articles and Book Chapters, 2015, vol. V, issue 3

Abstract: The introduction of the Euro has led to price level stability and fostered growth within the European Union. Consequently, since its launch as a store of value and unit of account, there has been a clear convergence between the yield of France’s sovereign debt and German benchmark. This paper tries to estimate the effect of certain macroeconomic fundamentals on the yield spread of French 10-year bonds, relative to the German Bund of the same maturity for the period January 1999-March 2003. It reaches the conclusion that staying in line with Maastricht criteria decreases the risk premium of external debt.

Keywords: French bonds; yield spreads (search for similar items in EconPapers)
JEL-codes: G12 G15 (search for similar items in EconPapers)
Date: 2015
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Working Paper: Analysis of Sovereign Yield Spreads Behavior: The French Bonds Case (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:espost:125924

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