France's 10-Year Borrowing Benchmark Falls to 5.05% After Three Daily Gains

France's TEC 10, a constant-maturity measure of 10-year government borrowing costs, stood at 5.05% Friday, Oct. 23, down from 5.13% a day earlier. The benchmark rose for three consecutive days beforehand, from 4.85% on Oct. 19 to 4.93% on Oct. 20, 4.99% on Oct. 21 and 5.13% on Oct. 22.

TEC 10 estimates the 10-year yield by interpolating between yields on two French government bonds with maturities on either side of 10 years. The daily figure is published at about 9 a.m. ET (13:00 UTC).

General-government debt stood at 119.0% of GDP at the end of Q2 2026, up from 117.5% at the end of Q1. That was an increase of 1.5 percentage points. France's general-government deficit was 5.1% of GDP in 2025, the fourth-highest in the European Union.

The French government projected GDP growth of 0.5% in 2026 and 1.0% in 2027. The Banque de France projected 0.4% growth for 2026. GDP fell 0.2% in Q1 and was flat in Q2.