The French borrowing costs have risen sharply amid rising market tension as the nation auctioned securities today. France sold total of 6.98 billion euros of securities that mature between 2013 and 2016.

France sold 3.332 billion euros of July 2016 notes (5-year) with the average yield rising to 2.82% from 2.31% in the previous October sale. The cover ratio dropped in the auction to 1.68 times versus 3.63 in October.