COUNTRY •
BRAZIL
Last Update: 9 Jun 2023 20:15 GMT+0
The Brazil 10Y Government Bond has a 11.167% yield.
10 Years vs 2 Years bond spread is 56.3 bp. Normal Convexity in Long-Term vs Short-Term Maturities.
Central Bank Rate is 13.75% (last modification in August 2022).
The Brazil credit rating is BB-, according to Standard & Poor's agency.
Current 5-Years Credit Default Swap quotation is 195.73 and implied probability of default is 3.26%.
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 | ||||
| 3 months | 14.651% | +14.2 bp | +4.9 bp | 09 Jun | |||||
| 6 months | 14.066% | -2.4 bp | -19.8 bp | 09 Jun | |||||
| 9 months | 13.434% | -11.7 bp | -13.0 bp | 09 Jun | |||||
| 1 year | 12.708% | -23.6 bp | -101.4 bp | 88.72 | +0.20 % | +0.90 % | 09 Jun | ||
| 2 years | 10.604% | -60.1 bp | -342.9 bp | 81.74 | +1.09 % | +6.29 % | 09 Jun | ||
| 3 years | 10.622% | -103.0 bp | -258.8 bp | 73.87 | +2.81 % | +7.18 % | 09 Jun | ||
| 5 years | 10.934% | -110.8 bp | -196.5 bp | 59.52 | +5.08 % | +9.17 % | 09 Jun | ||
| 8 years | 11.052% | -110.5 bp | -191.4 bp | 43.23 | +8.24 % | +14.64 % | 09 Jun | ||
| 10 years | 11.167% | -112.8 bp | -182.3 bp | 34.69 | +10.62 % | +17.67 % | 09 Jun | ||
Last Update: 9 Jun 2023 20:15 GMT+0
Brazil 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).
If data are not all visible, swipe table left
| Residual Maturity |
Yield | Spread vs Bond | Spread vs Central Bank Rate (13.75%) |
||||
|---|---|---|---|---|---|---|---|
| 3 months | 1 year | 2 years | 5 years | ||||
| 10 years | 11.167% | -258.3 bp | |||||
| 5 years | 10.934% | -281.6 bp | |||||
| 2 years | 10.604% | -314.6 bp | |||||
| 1 year | 12.708% | -104.2 bp | |||||
| 3 months | 14.651% | 90.1 bp | |||||
Focusing on 2 years Government Bond:
If data are not all visible, swipe table left
| 2Y vs 1Y | -210.4 bp | Yield Curve is inverted in Short-Term Maturities | ||
| 5Y vs 2Y | 33 bp | Normal Convexity in Mid-Term vs Short-Term Maturities | ||
| 10Y vs 2Y | 56.3 bp | Normal Convexity in Long-Term vs Short-Term Maturities |
Readings that may interest you
Brazil 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
Brazil Credit Ratings History
| Rating Agency | Rating | Outlook |
|---|---|---|
| Standard & Poor's |
BB-
|
- |
| Moody's Investors Service |
Ba2
|
- |
| Fitch Ratings |
BB-
|
- |
| DBRS |
BB (low)
|
- |
Brazil 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 | 13.75% |
Brazil 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 | 195.73 | -6.37 % | -11.50 % | -18.72 % | 3.26 % |
(*) Implied probability of default, calculated on the hypothesis of a 40% recovery rate.
Brazil 10Y Bond Yield Spread
The Brazil 10Y Government Bond has a 11.167% 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
| Brazil 10Y vs | Current Spread | Chg 1M | Chg 6M | ||
|---|---|---|---|---|---|
| Japan 10Y | 1074.3 bp | -113.1 bp | -198.8 bp | Compare | |
| Germany 10Y | 879.3 bp | -114.4 bp | -226.2 bp | Compare | |
| China 10Y | 846.3 bp | -106.5 bp | -160.2 bp | Compare | |
| France 10Y | 825.2 bp | -109.6 bp | -234.0 bp | Compare | |
| Spain 10Y | 781.9 bp | -102.1 bp | -221.3 bp | Compare | |
| Canada 10Y | 776.6 bp | -155.5 bp | -232.3 bp | Compare | |
| United States 10Y | 742.2 bp | -134.5 bp | -198.0 bp | Compare | |
| Australia 10Y | 722.8 bp | -159.5 bp | -239.6 bp | Compare | |
| Italy 10Y | 705.2 bp | -97.0 bp | -209.2 bp | Compare | |
| United Kingdom 10Y | 692.5 bp | -151.1 bp | -288.0 bp | Compare | |
| India 10Y | 412.8 bp | -112.1 bp | -156.3 bp | Compare | |
| Russia 10Y | 32.7 bp | -132.8 bp | -255.8 bp | Compare |
Brazil 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% | ||||
| 10 years | 11.167% | 34.69 | 40.54 | 52.24 | 63.93 | 75.63 | 87.33 | ||
| 8 years | 11.052% | 43.23 | 48.37 | 58.64 | 68.91 | 79.19 | 89.46 | ||
| 5 years | 10.934% | 59.52 | 63.22 | 70.63 | 78.03 | 85.44 | 92.84 | ||
| 3 years | 10.622% | 73.87 | 76.33 | 81.25 | 86.17 | 91.09 | 96.01 | ||
| 2 years | 10.604% | 81.74 | 83.47 | 86.91 | 90.35 | 93.80 | 97.24 | ||
| 1 year | 12.708% | 88.72 | 89.61 | 91.39 | 93.16 | 94.94 | 96.71 | ||
| Maturity Date | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |||