COUNTRY •
GERMANY
Last Update: 29 Sep 2023 17:15 GMT+0
The Germany 10Y Government Bond has a 2.850% yield.
10 Years vs 2 Years bond spread is -34.8 bp. Yield Curve is inverted in Long-Term vs Short-Term Maturities.
Central Bank Rate is 4.50% (last modification in September 2023).
The Germany credit rating is AAA, according to Standard & Poor's agency.
Current 5-Years Credit Default Swap quotation is 22.00 and implied probability of default is 0.37%.
If data are not all visible, swipe table left
| Residual Maturity |
Yield | ZC Price | Last Change |
||||||
|---|---|---|---|---|---|---|---|---|---|
| Last | Chg 1M | Chg 6M | Last | Chg 1M | Chg 6M | ||||
| 1 month | 3.754% | +27.9 bp | +117.5 bp | 29 Sep | |||||
| 3 months | 3.648% | -0.6 bp | +102.2 bp | 29 Sep | |||||
| 6 months | 3.734% | +10.1 bp | +90.9 bp | 29 Sep | |||||
| 9 months | 3.718% | +6.6 bp | +80.3 bp | 29 Sep | |||||
| 1 year | 3.702% | +7.6 bp | +77.7 bp | 96.43 | -0.07 % | -0.75 % | 29 Sep | ||
| 2 years | 3.198% | +15.0 bp | +55.3 bp | 93.90 | -0.29 % | -1.06 % | 29 Sep | ||
| 3 years | 3.035% | +10.3 bp | +57.4 bp | 91.42 | -0.31 % | -1.67 % | 29 Sep | ||
| 4 years | 2.852% | +18.4 bp | +51.9 bp | 89.36 | -0.71 % | -2.01 % | 29 Sep | ||
| 5 years | 2.781% | +23.0 bp | +45.9 bp | 87.18 | -1.12 % | -2.22 % | 29 Sep | ||
| 6 years | 2.729% | +23.5 bp | +45.5 bp | 85.08 | -1.37 % | -2.63 % | 29 Sep | ||
| 7 years | 2.727% | +28.6 bp | +48.6 bp | 82.83 | -1.94 % | -3.27 % | 29 Sep | ||
| 8 years | 2.737% | +29.3 bp | +48.5 bp | 80.57 | -2.26 % | -3.72 % | 29 Sep | ||
| 9 years | 2.772% | +32.2 bp | +50.3 bp | 78.19 | -2.79 % | -4.32 % | 29 Sep | ||
| 10 years | 2.850% | +33.3 bp | +53.9 bp | 75.50 | -3.19 % | -5.13 % | 29 Sep | ||
| 15 years | 3.020% | +35.9 bp | +54.0 bp | 64.00 | -5.10 % | -7.58 % | 29 Sep | ||
| 20 years | 3.055% | +37.9 bp | +57.8 bp | 54.78 | -7.11 % | -10.64 % | 29 Sep | ||
| 25 years | 3.032% | +41.0 bp | +63.9 bp | 47.39 | -9.49 % | -14.41 % | 29 Sep | ||
| 30 years | 3.043% | +42.4 bp | +63.4 bp | 40.69 | -11.62 % | -16.89 % | 29 Sep | ||
Last Update: 29 Sep 2023 17:15 GMT+0
Germany Yield Curve Analysis
Normally, longer-duration interest rates are higher than short-duration. So, the yield curve normally slopes upward as duration increases.
For this reason, the spread (i.e. the yield difference) between a longer and a shorter bond should be positive.
If not, the yield curve can be flat or inverted.
The curve convexity is measured considering some key bond durations (usually 2 years and 10 years, but also other maturities).
The curve convexity is measured considering some key bond durations (usually 2 years and 10 years, but also other maturities).
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| Residual Maturity |
Yield | Spread vs Bond | Spread vs Central Bank Rate (4.50%) |
|||||
|---|---|---|---|---|---|---|---|---|
| 3 months | 1 year | 2 years | 5 years | 10 years | ||||
| 30 years | 3.043% | -145.7 bp | ||||||
| 10 years | 2.850% | -165.0 bp | ||||||
| 5 years | 2.781% | -171.9 bp | ||||||
| 2 years | 3.198% | -130.2 bp | ||||||
| 1 year | 3.702% | -79.8 bp | ||||||
| 3 months | 3.648% | -85.2 bp | ||||||
Focusing on 2 years Government Bond:
If data are not all visible, swipe table left
| 2Y vs 1Y | -50.4 bp | Yield Curve is inverted in Short-Term Maturities | ||
| 5Y vs 2Y | -41.7 bp | Yield Curve is inverted in Mid-Term vs Short-Term Maturities | ||
| 10Y vs 2Y | -34.8 bp | Yield Curve is inverted in Long-Term vs Short-Term Maturities |
Readings that may interest you
Germany Credit Ratings
A credit rating is an assessment of the creditworthiness of a borrower (in general terms or with respect to a particular debt or financial obligation).
For a deeper analysis of credit ratings, click here
Germany Credit Ratings History
| Rating Agency | Rating | Outlook |
|---|---|---|
| Standard & Poor's |
AAA
|
- |
| Moody's Investors Service |
Aaa
|
- |
| Fitch Ratings |
AAA
|
- |
| DBRS |
AAA
|
- |
Germany Interest Rates
A bank rate is the interest rate at which a nation's central bank lends money to domestic banks, often in the form of very short-term loans.
| Interest Rates | Value | |
|---|---|---|
| Central Bank Rate | 4.50% |
Germany Credit Default Swaps
The term credit default swap (CDS) refers to a financial derivative that allows an investor to swap or offset their credit risk with that of another investor. To swap the risk of default, the lender buys a CDS from another investor who agrees to reimburse the lender in the case the borrower defaults.
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| Credit Default Swap | CDS Value | Var % 1W | Var % 1M | Var % 1Y | Implied PD(*) | |
|---|---|---|---|---|---|---|
| 5 Years CDS | 22.00 | +17.69 % | +32.58 % | +29.41 % | 0.37 % |
(*) Implied probability of default, calculated on the hypothesis of a 40% recovery rate.
Germany 10Y Bond Yield Spread
The Germany 10Y Government Bond has a 2.850% yield. Click on Spread value for the historical serie.
A positive spread, marked by
, means that the 10Y Bond Yield is higher than the corresponding foreign bond. Instead, a negative spread is marked by a green circle.
Click on the values in "Current Spread" column, for the historical series of the spread.
Click on the "Compare" button, for a report with the full comparison between the two countries, with all the available data.
If data are not all visible, swipe table left
| Germany 10Y vs | Current Spread | Chg 1M | Chg 6M | ||
|---|---|---|---|---|---|
| Japan 10Y | 209.9 bp | +22.2 bp | +8.7 bp | Compare | |
| China 10Y | 14.4 bp | +23.7 bp | +70.9 bp | Compare | |
| France 10Y | -55.8 bp | -4.3 bp | -3.9 bp | Compare | |
| Spain 10Y | -109.4 bp | -8.1 bp | -5.2 bp | Compare | |
| Canada 10Y | -121.9 bp | -11.6 bp | -56.9 bp | Compare | |
| Australia 10Y | -163.3 bp | -7.9 bp | -62.2 bp | Compare | |
| United Kingdom 10Y | -165.2 bp | +31.9 bp | -50.0 bp | Compare | |
| United States 10Y | -172.4 bp | -10.9 bp | -46.2 bp | Compare | |
| Italy 10Y | -193.1 bp | -28.7 bp | -8.7 bp | Compare | |
| India 10Y | -436.0 bp | +30.3 bp | +62.5 bp | Compare | |
| Brazil 10Y | -894.1 bp | -41.6 bp | +164.8 bp | Compare | |
| Russia 10Y | -1007.0 bp | -54.7 bp | -206.1 bp | Compare |
Germany Government Bonds Prices
Price Simulation: bonds with a face value of 100, with different coupon rates. The highlighted column refers to the zero coupon bond.
Click on
for a forecast of the yield.
If data are not all visible, swipe table left
| Residual Maturity |
Yield | Bond Price - with different Coupon Rates | Fx | ||||||
|---|---|---|---|---|---|---|---|---|---|
| 0% | 1% | 3% | 5% | 7% | 9% | ||||
| 30 years | 3.043% | 40.69 | 60.18 | 99.16 | 138.15 | 177.13 | 216.11 | ||
| 25 years | 3.032% | 47.39 | 64.74 | 99.44 | 134.15 | 168.85 | 203.55 | ||
| 20 years | 3.055% | 54.78 | 69.58 | 99.19 | 128.79 | 158.39 | 188.00 | ||
| 15 years | 3.020% | 64.00 | 75.92 | 99.76 | 123.60 | 147.44 | 171.29 | ||
| 10 years | 2.850% | 75.50 | 84.10 | 101.29 | 118.48 | 135.67 | 152.86 | ||
| 9 years | 2.772% | 78.19 | 86.06 | 101.79 | 117.53 | 133.27 | 149.01 | ||
| 8 years | 2.737% | 80.57 | 87.67 | 101.87 | 116.06 | 130.26 | 144.46 | ||
| 7 years | 2.727% | 82.83 | 89.13 | 101.72 | 114.31 | 126.90 | 139.49 | ||
| 6 years | 2.729% | 85.08 | 90.55 | 101.48 | 112.41 | 123.35 | 134.28 | ||
| 5 years | 2.781% | 87.18 | 91.79 | 101.01 | 110.23 | 119.44 | 128.66 | ||
| 4 years | 2.852% | 89.36 | 93.09 | 100.55 | 108.01 | 115.47 | 122.93 | ||
| 3 years | 3.035% | 91.42 | 94.25 | 99.90 | 105.55 | 111.21 | 116.86 | ||
| 2 years | 3.198% | 93.90 | 95.81 | 99.62 | 103.44 | 107.25 | 111.07 | ||
| 1 year | 3.702% | 96.43 | 97.39 | 99.32 | 101.25 | 103.18 | 105.11 | ||
| Maturity Date | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |||