The French 10-year bond yield fell below 2 per cent for the first time ever Wednesday, despite growing concern over industrial job losses and stagnant growth, according to dpa. The interest paid by the state fell three basis points to 1.993 per cent in the afternoon, beating a previous record low of 2.002 per cent in early August. Despite being stripped of its AAA credit rating from Standard & Poor\'s and Moody\'s France has been borrowing at record lows this year, even paying negative rates for very short-term debt. President Francois Hollande\'s administration has held up the low borrowing costs as proof of investor confidence in the government\'s reform programme.