COUNTRY •
BRAZIL
Last Update: 9 Feb 2023 0:15 GMT+0
The Brazil 10Y Government Bond has a 13.306% yield.
10 Years vs 2 Years bond spread is 50.7 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 223.30 and implied probability of default is 3.72%.
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 | 14.456% | +9.3 bp | -7.7 bp | 08 Feb | |||||
| 6 months | 14.311% | +6.6 bp | +0.2 bp | 08 Feb | |||||
| 9 months | 13.882% | -10.6 bp | +40.9 bp | 08 Feb | |||||
| 1 year | 13.676% | -4.8 bp | +0.7 bp | 87.97 | +0.05 % | 0.00 % | 08 Feb | ||
| 2 years | 12.799% | -10.1 bp | -39.9 bp | 78.59 | +0.18 % | +0.70 % | 08 Feb | ||
| 3 years | 12.930% | -15.3 bp | +86.4 bp | 69.43 | +0.40 % | -2.28 % | 08 Feb | ||
| 5 years | 12.958% | +0.7 bp | +107.8 bp | 54.38 | -0.02 % | -4.68 % | 08 Feb | ||
| 8 years | 13.212% | +19.2 bp | +112.5 bp | 37.06 | -1.33 % | -7.67 % | 08 Feb | ||
| 10 years | 13.306% | +30.4 bp | +116.7 bp | 28.67 | -2.65 % | -9.84 % | 08 Feb | ||
Last Update: 9 Feb 2023 0:15 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 | 13.306% | -44.4 bp | |||||
| 5 years | 12.958% | -79.2 bp | |||||
| 2 years | 12.799% | -95.1 bp | |||||
| 1 year | 13.676% | -7.4 bp | |||||
| 3 months | 14.456% | 70.6 bp | |||||
Focusing on 2 years Government Bond:
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| 2Y vs 1Y | -87.7 bp | Yield Curve is inverted in Short-Term Maturities | ||
| 5Y vs 2Y | 15.9 bp | Normal Convexity in Mid-Term vs Short-Term Maturities | ||
| 10Y vs 2Y | 50.7 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 | 223.30 | -1.58 % | -12.05 % | +1.50 % | 3.72 % |
(*) 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 13.306% 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 | 1281.8 bp | +31.4 bp | +84.7 bp | Compare | |
| Germany 10Y | 1094.4 bp | +17.5 bp | -27.5 bp | Compare | |
| France 10Y | 1050.0 bp | +23.4 bp | -16.2 bp | Compare | |
| China 10Y | 1038.7 bp | +29.0 bp | +99.6 bp | Compare | |
| Canada 10Y | 1027.0 bp | +37.3 bp | +84.2 bp | Compare | |
| United Kingdom 10Y | 997.1 bp | +50.1 bp | -17.7 bp | Compare | |
| Spain 10Y | 993.6 bp | +21.4 bp | -14.0 bp | Compare | |
| United States 10Y | 970.8 bp | +23.4 bp | +35.5 bp | Compare | |
| Australia 10Y | 969.9 bp | +39.8 bp | +78.6 bp | Compare | |
| Italy 10Y | 909.7 bp | +28.8 bp | +3.6 bp | Compare | |
| India 10Y | 596.2 bp | +30.2 bp | +117.1 bp | Compare | |
| Russia 10Y | 262.6 bp | -3.6 bp | -46.3 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 | 13.306% | 28.67 | 34.03 | 44.75 | 55.48 | 66.20 | 76.92 | ||
| 8 years | 13.212% | 37.06 | 41.82 | 51.35 | 60.88 | 70.41 | 79.93 | ||
| 5 years | 12.958% | 54.38 | 57.90 | 64.94 | 71.98 | 79.02 | 86.06 | ||
| 3 years | 12.930% | 69.43 | 71.80 | 76.53 | 81.25 | 85.98 | 90.71 | ||
| 2 years | 12.799% | 78.59 | 80.27 | 83.61 | 86.96 | 90.30 | 93.65 | ||
| 1 year | 13.676% | 87.97 | 88.85 | 90.61 | 92.37 | 94.13 | 95.89 | ||
| Maturity Date | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |||