What Are French OAT Bonds?
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OATs (Obligations assimilables du Trésor) are France’s benchmark government bonds.
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What Are French OAT Bonds — the mechanics
France is a large, liquid euro issuer. OATs usually yield a little more than bunds. That OAT–Bund spread is a standard gauge of French fiscal and political risk priced by the market.
OATs are France’s assimilable Treasury bonds — fungible coupon lines issued by Agence France Trésor. They are the second pillar of euro sovereign rates after bunds.
The OAT–Bund spread is the sentence everyone writes during French budget fights. It is a price of euro French credit versus German, not a morality score.
Annual coupons are common. Day-count and accrued therefore differ from gilts. Check the specific OAT.
Official sources (France — OATs)
Primary statistics and prospectuses for France — OATs are published by the issuer, not by this newsroom. The labelled links at the end of this page go to those official sites (DMO, TreasuryDirect, Finanzagentur, MEF, AFT, SNB or ECB as relevant).
Our live board is a teaching overlay: dated prints, named sources, estimated ISIN lines. It is not a replacement for the issuer’s calendar.
Ključni zaključci
- OATs are France’s assimilable Treasury bonds — fungible coupon lines issued by Agence France Trésor.
- Prices and yields change. When this site quotes them, it dates them on the live board.
- Credit of a G7 government in its own currency is not the same as a stable screen price, and not the same as a bank deposit.
Česta pitanja
- Does OAT mean the same as ‘treasury’?
- It is the French government bond. Short French bills have other names (BTF).