COUNTRY •
GERMANY
Last Update: 9 Jun 2023 20:15 GMT+0
The Germany 10Y Government Bond has a 2.374% yield.
10 Years vs 2 Years bond spread is -58.3 bp. Yield Curve is inverted in Long-Term vs Short-Term Maturities.
Central Bank Rate is 3.75% (last modification in May 2023).
The Germany credit rating is AAA, according to Standard & Poor's agency.
Current 5-Years Credit Default Swap quotation is 14.04 and implied probability of default is 0.23%.
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 | 3.029% | +13.9 bp | +187.9 bp | 09 Jun | |||||
| 3 months | 3.157% | +26.7 bp | +142.1 bp | 09 Jun | |||||
| 6 months | 3.290% | +26.6 bp | +127.9 bp | 09 Jun | |||||
| 9 months | 3.356% | +20.7 bp | +114.3 bp | 09 Jun | |||||
| 1 year | 3.357% | +21.5 bp | +107.7 bp | 96.75 | -0.21 % | -1.04 % | 09 Jun | ||
| 2 years | 2.956% | +26.2 bp | +82.7 bp | 94.34 | -0.51 % | -1.60 % | 09 Jun | ||
| 3 years | 2.697% | +21.1 bp | +69.3 bp | 92.33 | -0.61 % | -2.01 % | 09 Jun | ||
| 4 years | 2.506% | +17.6 bp | +56.2 bp | 90.57 | -0.69 % | -2.18 % | 09 Jun | ||
| 5 years | 2.418% | +11.8 bp | +48.2 bp | 88.74 | -0.57 % | -2.33 % | 09 Jun | ||
| 6 years | 2.358% | +9.6 bp | +46.8 bp | 86.95 | -0.56 % | -2.71 % | 09 Jun | ||
| 7 years | 2.316% | +3.6 bp | +42.6 bp | 85.19 | -0.25 % | -2.88 % | 09 Jun | ||
| 8 years | 2.313% | +4.7 bp | +43.5 bp | 83.28 | -0.37 % | -3.35 % | 09 Jun | ||
| 9 years | 2.313% | +2.1 bp | +42.4 bp | 81.40 | -0.18 % | -3.67 % | 09 Jun | ||
| 10 years | 2.374% | +1.5 bp | +43.9 bp | 79.09 | -0.15 % | -4.20 % | 09 Jun | ||
| 15 years | 2.554% | -0.6 bp | +57.7 bp | 68.50 | +0.09 % | -8.12 % | 09 Jun | ||
| 20 years | 2.560% | -0.9 bp | +66.5 bp | 60.32 | +0.18 % | -12.20 % | 09 Jun | ||
| 25 years | 2.484% | -1.6 bp | +70.7 bp | 54.15 | +0.39 % | -15.89 % | 09 Jun | ||
| 30 years | 2.510% | -3.2 bp | +83.6 bp | 47.53 | +0.93 % | -21.79 % | 09 Jun | ||
Last Update: 9 Jun 2023 20:15 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 (3.75%) |
|||||
|---|---|---|---|---|---|---|---|---|
| 3 months | 1 year | 2 years | 5 years | 10 years | ||||
| 30 years | 2.510% | -124.0 bp | ||||||
| 10 years | 2.374% | -137.7 bp | ||||||
| 5 years | 2.418% | -133.2 bp | ||||||
| 2 years | 2.956% | -79.4 bp | ||||||
| 1 year | 3.357% | -39.3 bp | ||||||
| 3 months | 3.157% | -59.3 bp | ||||||
Focusing on 2 years Government Bond:
If data are not all visible, swipe table left
| 2Y vs 1Y | -40.1 bp | Yield Curve is inverted in Short-Term Maturities | ||
| 5Y vs 2Y | -53.8 bp | Yield Curve is inverted in Mid-Term vs Short-Term Maturities | ||
| 10Y vs 2Y | -58.3 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 | 3.75% |
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 | 14.04 | +2.12 % | +5.50 % | +12.30 % | 0.23 % |
(*) 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 2.374% 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 | 195.0 bp | +1.3 bp | +27.4 bp | Compare | |
| China 10Y | -33.0 bp | +7.9 bp | +66.0 bp | Compare | |
| France 10Y | -54.1 bp | +4.8 bp | -7.8 bp | Compare | |
| Spain 10Y | -97.4 bp | +12.3 bp | +4.9 bp | Compare | |
| Canada 10Y | -102.7 bp | -41.1 bp | -6.1 bp | Compare | |
| United States 10Y | -137.1 bp | -20.1 bp | +28.2 bp | Compare | |
| Australia 10Y | -156.5 bp | -45.1 bp | -13.4 bp | Compare | |
| Italy 10Y | -174.1 bp | +17.4 bp | +17.0 bp | Compare | |
| United Kingdom 10Y | -186.8 bp | -36.7 bp | -61.8 bp | Compare | |
| India 10Y | -466.5 bp | +2.3 bp | +69.9 bp | Compare | |
| Russia 10Y | -846.6 bp | -18.4 bp | -29.6 bp | Compare | |
| Brazil 10Y | -879.3 bp | +114.4 bp | +226.2 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 | 2.510% | 47.53 | 68.44 | 110.24 | 152.05 | 193.85 | 235.66 | ||
| 25 years | 2.484% | 54.15 | 72.61 | 109.52 | 146.44 | 183.36 | 220.27 | ||
| 20 years | 2.560% | 60.32 | 75.82 | 106.82 | 137.82 | 168.83 | 199.83 | ||
| 15 years | 2.554% | 68.50 | 80.84 | 105.50 | 130.16 | 154.83 | 179.49 | ||
| 10 years | 2.374% | 79.09 | 87.90 | 105.52 | 123.14 | 140.76 | 158.38 | ||
| 9 years | 2.313% | 81.40 | 89.44 | 105.52 | 121.61 | 137.69 | 153.77 | ||
| 8 years | 2.313% | 83.28 | 90.51 | 104.97 | 119.42 | 133.88 | 148.33 | ||
| 7 years | 2.316% | 85.19 | 91.59 | 104.37 | 117.16 | 129.95 | 142.74 | ||
| 6 years | 2.358% | 86.95 | 92.48 | 103.55 | 114.62 | 125.69 | 136.76 | ||
| 5 years | 2.418% | 88.74 | 93.40 | 102.71 | 112.02 | 121.34 | 130.65 | ||
| 4 years | 2.506% | 90.57 | 94.34 | 101.86 | 109.38 | 116.90 | 124.43 | ||
| 3 years | 2.697% | 92.33 | 95.17 | 100.86 | 106.55 | 112.24 | 117.93 | ||
| 2 years | 2.956% | 94.34 | 96.25 | 100.08 | 103.91 | 107.74 | 111.57 | ||
| 1 year | 3.357% | 96.75 | 97.72 | 99.65 | 101.59 | 103.52 | 105.46 | ||
| Maturity Date | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |||