COUNTRY •
BRAZIL
Last Update: 22 May 2022 17:15 GMT+0
The Brazil 10Y Government Bond has a 12.310% yield.
10 Years vs 2 Years bond spread is -2.7 bp. Yield Curve is inverted in Long-Term vs Short-Term Maturities.
Central Bank Rate is 12.75% (last modification in May 2022).
The Brazil credit rating is BB-, according to Standard & Poor's agency.
Current 5-Years Credit Default Swap quotation is 244.70 and implied probability of default is 4.08%.
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 | 13.620% | +38.2 bp | +458.7 bp | 20 May | |||||
| 6 months | 13.741% | +31.4 bp | +317.3 bp | 20 May | |||||
| 9 months | 13.618% | +30.9 bp | +191.3 bp | 20 May | |||||
| 1 year | 13.255% | +50.5 bp | +134.4 bp | 88.30 | -0.44 % | -1.19 % | 22 May | ||
| 2 years | 12.337% | +13.6 bp | +30.0 bp | 79.24 | -0.24 % | -0.54 % | 20 May | ||
| 3 years | 12.290% | +4.0 bp | +72.1 bp | 70.63 | -0.10 % | -1.92 % | 22 May | ||
| 5 years | 12.433% | +11.3 bp | +40.0 bp | 55.66 | -0.50 % | -1.76 % | 22 May | ||
| 8 years | 12.114% | -15.5 bp | +16.6 bp | 40.06 | +1.11 % | -1.18 % | 20 May | ||
| 10 years | 12.310% | -4.1 bp | +62.4 bp | 31.32 | +0.35 % | -5.41 % | 22 May | ||
Last Update: 22 May 2022 17:15 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 (12.75%) |
||||
|---|---|---|---|---|---|---|---|
| 3 months | 1 year | 2 years | 5 years | ||||
| 10 years | 12.310% | -44.0 bp | |||||
| 5 years | 12.433% | -31.7 bp | |||||
| 2 years | 12.337% | -41.3 bp | |||||
| 1 year | 13.255% | 50.5 bp | |||||
| 3 months | 13.620% | 87.0 bp | |||||
Focusing on 2 years Government Bond:
If data are not all visible, swipe table left
| 2Y vs 1Y | -91.8 bp | Yield Curve is inverted in Short-Term Maturities | ||
| 5Y vs 2Y | 9.6 bp | Yield Curve is flat in Mid-Term vs Short-Term Maturities | ||
| 10Y vs 2Y | -2.7 bp | Yield Curve is inverted 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-
|
negative |
| 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 | 12.75% |
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 | 244.70 | +2.99 % | +14.56 % | +37.94 % | 4.08 % |
(*) 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 12.310% 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 | 1206.8 bp | -3.7 bp | +45.2 bp | Compare | |
| Germany 10Y | 1136.5 bp | -2.1 bp | -61.6 bp | Compare | |
| France 10Y | 1083.5 bp | -10.0 bp | -79.9 bp | Compare | |
| United Kingdom 10Y | 1043.2 bp | +5.8 bp | -31.0 bp | Compare | |
| Spain 10Y | 1020.2 bp | -22.3 bp | -106.2 bp | Compare | |
| United States 10Y | 952.5 bp | +7.9 bp | -53.6 bp | Compare | |
| China 10Y | 948.8 bp | +2.5 bp | +73.9 bp | Compare | |
| Canada 10Y | 947.8 bp | +1.8 bp | -44.0 bp | Compare | |
| Italy 10Y | 932.1 bp | -35.1 bp | -142.2 bp | Compare | |
| Australia 10Y | 907.2 bp | -16.2 bp | -73.1 bp | Compare | |
| India 10Y | 495.1 bp | -23.3 bp | -38.4 bp | Compare | |
| Russia 10Y | 213.0 bp | -27.1 bp | -98.1 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 | 12.310% | 31.32 | 36.90 | 48.06 | 59.22 | 70.37 | 81.53 | ||
| 8 years | 12.114% | 40.06 | 45.01 | 54.90 | 64.80 | 74.70 | 84.59 | ||
| 5 years | 12.433% | 55.66 | 59.22 | 66.36 | 73.49 | 80.62 | 87.76 | ||
| 3 years | 12.290% | 70.63 | 73.02 | 77.80 | 82.58 | 87.36 | 92.14 | ||
| 2 years | 12.337% | 79.24 | 80.92 | 84.29 | 87.65 | 91.02 | 94.39 | ||
| 1 year | 13.255% | 88.30 | 89.18 | 90.95 | 92.71 | 94.48 | 96.24 | ||
| Maturity Date | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |||