Cyprus Government Bonds - Yields Curve

COUNTRY • SUMMARY
CYPRUS

The Cyprus 10-Year Government Bond currently offers a yield of 2.930%. This yield reflects the return investors can expect if they hold the bond until maturity. Government bond yields are critical indicators of economic confidence and investor sentiment.

The yield spread between Cyprus 10-Year and 2-Year government bonds is 46 basis points (bp), reflecting the difference in yields between long-term and short-term debt.
Typically, long-term bonds carry higher yields than short-term ones.
Current observation: Normal Convexity in Long-Term vs Short-Term Maturities.

Cyprus Central Bank Rate stands at 3.15%, following the most recent adjustment in December 2024.

According to Standard & Poor's agency, the Cyprus credit rating is BBB+.

Table of contents

The first official book of
Build wealth
with Lazy Portfolios and Passive Investing
Set your goal
Use top metrics to evaluate
Choose Bond ETFs to control risk
Join the passive investing strategy
Exclusive new asset allocations in EUR and USD

Cyprus Yield Curve

A Yield Curve is a graph that shows the relationship between interest rates (or yields) and different maturities of debt for a specific borrower, often government bonds. It typically plots yields on the y-axis and maturities on the x-axis, ranging from short-term to long-term bonds.

The shape of the yield curve gives investors insights into market expectations for interest rates, economic growth, and inflation. A normal yield curve, where long-term rates are higher than short-term, suggests economic growth, while an inverted curve, where short-term rates are higher, can indicate an upcoming recession.

Cyprus Yield Curve
Cyprus Government Bonds
15 December 2024

Loading data
Please wait
Show discontinued:
If data are not all visible, swipe table left
Residual
Maturity
Annualized Yield Constant Maturity Zero Coupon Price Capital
Growth
of 1 Unit
Last
Update
Last Chg 1M Chg 6M Chg 12M Last Chg 1M Chg 6M Chg 12M
2 years 2.470% +21.0 bp -92.7 bp -45.5 bp 95.24 -0.41 % +1.82 % +0.89 % 1.050 13 Dec
3 years 2.340% -10.6 bp -85.1 bp -41.4 bp 93.30 +0.31 % +2.52 % +1.23 % 1.071 13 Dec
4 years 2.750% +8.6 bp -51.9 bp +0.8 bp 89.72 -0.33 % +2.04 % -0.02 % 1.114 13 Dec
7 years 2.620% -20.3 bp -40.2 bp -24.1 bp 83.44 +1.40 % +2.77 % +1.66 % 1.198 13 Dec
10 years 2.930% -6.4 bp -37.8 bp -22.7 bp 74.92 +0.63 % +3.74 % +2.24 % 1.334 13 Dec
20 years 3.470% +1.5 bp -28.9 bp -8.1 bp 50.55 -0.30 % +5.73 % +1.59 % 1.978 13 Dec
30 years 3.660% -7.1 bp -20.1 bp -7.6 bp 34.01 +2.07 % +5.98 % +2.22 % 2.939 13 Dec
Last Update: 15 Dec 2024, 0:15 GMT+0

Cyprus Yield History

This table presents the historical values of the yield curve, with data points collected at the end of each year.

By analyzing these values over time, one can observe trends and shifts in economic sentiment and monetary policy that impact investor expectations about future interest rates and economic growth.

If data are not all visible, swipe table left
Government Bonds Yield (%)
Spread (bp)
Period 1M 3M 6M 1Y 2Y 3Y 5Y 7Y 10Y 30Y 10Y - 2Y
Dec 2024 n.a. n.a. n.a. n.a. 2.470 2.340 n.a. 2.620 2.930 3.660 46.0
Dec 2023 n.a. n.a. n.a. n.a. 2.892 2.641 n.a. 2.848 3.175 3.871 28.3
Dec 2022 n.a. n.a. n.a. n.a. 2.484 2.578 3.603 3.942 4.111 n.a. 162.7
Dec 2021 n.a. n.a. n.a. n.a. -0.367 -0.259 0.140 0.475 0.661 n.a. 102.8
Dec 2020 n.a. n.a. n.a. 0.022 n.a. -0.244 -0.086 -0.021 0.127 n.a. n.a.
Dec 2019 n.a. n.a. n.a. -0.125 n.a. -0.122 0.043 0.232 0.490 n.a. n.a.
Dec 2018 n.a. n.a. n.a. n.a. 0.516 0.770 1.126 1.829 n.a. n.a. n.a.

Cyprus Yield 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).

Internal Spread on Key Maturities:
If data are not all visible, swipe table left
10Y vs 2Y 46.0 bp Normal Convexity in Long-Term vs Short-Term Maturities
If data are not all visible, swipe table left
Residual
Maturity
Yield Spread vs Spread vs
Central Bank
Rate (3.15%)
2 years 10 years
30 years 3.660% 51.0bp
10 years 2.930%
-22.0bp
2 years 2.470%
-68.0bp

Cyprus 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).

Swipe left to see all data
Rating Agency Rating Outlook Last Update Action
Standard & Poor's BBB+ positive 17 Jun 2024 rating upgrade
Moody's Investors Service A3 - 25 Nov 2024 rating upgrade
Fitch Ratings A- - 6 Dec 2024 rating upgrade
DBRS BBB (high) positive 23 Sep 2024 outlook upgrade

Cyprus 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 3.15%
The first official book of
Build wealth
with Lazy Portfolios and Passive Investing

Cyprus 10Y Bond Yield Spread

The Cyprus 10Y Government Bond has a 2.930% yield.

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
Cyprus 10Y vs Current Spread Chg 1M Chg 6M Chg 12M Compare
Countries
vs Japan 10Y 189.7 bp -3.4 bp -49.2 bp -56.4 bp
vs China 10Y 115.0 bp +25.1 bp +14.4 bp +64.1 bp
vs Germany 10Y 66.8 bp +2.3 bp -28.4 bp -46.3 bp
vs Spain 10Y -0.4 bp +5.9 bp +3.9 bp -15.4 bp
vs France 10Y -11.6 bp -3.6 bp -26.0 bp -71.4 bp
vs Canada 10Y -24.6 bp +5.7 bp -24.5 bp -25.8 bp
vs Italy 10Y -47.2 bp +8.0 bp +16.0 bp +10.9 bp
vs Australia 10Y -138.4 bp +28.7 bp -55.3 bp -45.6 bp
vs United States 10Y -147.1 bp -1.8 bp -55.8 bp -71.6 bp
vs United Kingdom 10Y -149.1 bp -2.5 bp -75.4 bp -95.2 bp
vs India 10Y -380.0 bp +15.3 bp -12.4 bp +20.6 bp
vs Brazil 10Y -1098.3 bp -112.7 bp -228.1 bp -351.0 bp
vs Russia 10Y -1343.5 bp -70.5 bp -161.3 bp -400.7 bp

Cyprus 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 3.660% 34.01 52.04 88.10 124.16 160.22 196.27
20 years 3.470% 50.55 64.80 93.30 121.80 150.31 178.81
10 years 2.930% 74.92 83.48 100.60 117.72 134.84 151.96
7 years 2.620% 83.44 89.76 102.40 115.04 127.68 140.32
4 years 2.750% 89.72 93.46 100.93 108.41 115.89 123.37
3 years 2.340% 93.30 96.16 101.89 107.62 113.35 119.08
2 years 2.470% 95.24 97.17 101.02 104.88 108.74 112.59
Maturity Date 100.00 100.00 100.00 100.00 100.00 100.00
The first official book of
Build wealth
with Lazy Portfolios and Passive Investing