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EURO GOVT-French OAT futures fall after sovereign downgrade
November 20, 2012 / 7:20 AM / 5 years ago

EURO GOVT-French OAT futures fall after sovereign downgrade

LONDON, Nov 20 (Reuters) - French government bond futures fell on Tuesday after Moody’s stripped the country of its prized triple-A rating.

Moody’s move came late on Monday, making it the second rating agency to cut the sovereign credit rating on Europe’s No. 2 economy.

Moody’s cited an uncertain fiscal outlook and a deteriorating economy as it cut the rating by one notch and left France with a negative outlook.

French OAT futures were 27 ticks lower at 136.24 in early trading.

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