Greece Government Bonds - Yields Curve

COUNTRY • SUMMARY
GREECE

The Greece 10-Year Government Bond currently offers a yield of 3.103%. 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 Greece 10-Year and 2-Year government bonds is 100.2 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.

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

According to Standard & Poor's agency, the Greece credit rating is BBB-.

The current quotation for Greece 5-Years Credit Default Swap is 57.29 basis points. Correspondingly, the implied probability of default is 0.95%.

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Greece 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.

Greece Yield Curve
Greece Government Bonds
14 December 2024

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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
1 month 6.130% +272.4 bp +103.5 bp +74.5 bp 99.51 -0.21 % -0.08 % -0.05 % 1.004 14 Dec
3 months 3.569% +48.5 bp -83.9 bp -68.2 bp 99.13 -0.11 % +0.20 % +0.17 % 1.008 14 Dec
6 months 2.914% -8.7 bp -103.2 bp -90.1 bp 98.57 +0.04 % +0.50 % +0.43 % 1.014 14 Dec
1 year 3.247% -8.8 bp -15.0 bp -49.9 bp 96.86 +0.09 % +0.16 % +0.49 % 1.032 14 Dec
2 years 2.101% -8.5 bp -90.6 bp -79.1 bp 95.93 +0.17 % +1.78 % +1.56 % 1.042 14 Dec
3 years 2.202% -5.5 bp n.a. n.a. 93.67 +0.16 % n.a. n.a. 1.067 14 Dec
4 years 2.244% -24.2 bp n.a. n.a. 91.51 +0.96 % n.a. n.a. 1.092 14 Dec
5 years 2.389% -20.3 bp -82.1 bp -39.6 bp 88.87 +1.00 % +4.08 % +1.95 % 1.125 14 Dec
7 years 2.716% -16.3 bp -61.2 bp -40.5 bp 82.90 +1.12 % +4.25 % +2.80 % 1.206 14 Dec
8 years 2.851% -8.2 bp n.a. n.a. 79.86 +0.64 % n.a. n.a. 1.252 14 Dec
10 years 3.103% -12.6 bp -57.5 bp -19.1 bp 73.67 +1.22 % +5.73 % +1.87 % 1.357 14 Dec
15 years 3.408% -18.0 bp -51.7 bp -32.1 bp 60.49 +2.65 % +7.77 % +4.76 % 1.653 14 Dec
20 years 3.524% -13.5 bp -51.3 bp -40.1 bp 50.02 +2.63 % +10.37 % +8.03 % 1.999 14 Dec
30 years 3.763% -12.4 bp -43.8 bp +0.1 bp 33.02 +3.67 % +13.47 % -0.03 % 3.028 14 Dec
Last Update: 14 Dec 2024, 21:23 GMT+0

Greece 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.

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Government Bonds Yield (%)
Spread (bp)
Period 1M 3M 6M 1Y 2Y 3Y 5Y 7Y 10Y 30Y 10Y - 2Y
Dec 2024 6.130 3.569 2.914 3.247 2.101 2.202 2.389 2.716 3.103 3.763 100.2
Dec 2023 5.340 4.058 4.015 3.550 2.862 n.a. 2.536 2.875 3.081 3.504 21.9
Dec 2022 3.609 2.097 1.778 n.a. n.a. n.a. 3.519 n.a. 4.565 n.a. n.a.
Dec 2021 -0.586 -0.468 -0.480 n.a. n.a. n.a. 0.554 n.a. 1.281 n.a. n.a.
Dec 2020 -0.572 -0.408 -0.180 n.a. n.a. n.a. 0.108 n.a. 0.626 n.a. n.a.
Dec 2019 4.120 0.820 0.370 n.a. n.a. n.a. 0.476 n.a. 1.449 n.a. n.a.
Dec 2018 1.350 1.370 1.380 n.a. n.a. n.a. 3.305 n.a. 4.382 n.a. n.a.
Dec 2017 2.040 2.050 2.100 n.a. 1.574 n.a. 3.512 n.a. 4.119 n.a. 254.5
Dec 2016 2.400 2.430 2.460 n.a. 7.442 7.751 n.a. n.a. 7.032 n.a. -41.0
Dec 2015 n.a. 3.350 3.020 n.a. 7.502 n.a. 7.732 n.a. n.a. 7.883 n.a.

Greece 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:
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2Y vs 1Y -114.6 bp Yield Curve is flat in Short-Term Maturities
5Y vs 2Y 28.8 bp Normal Convexity in Mid-Term vs Short-Term Maturities
10Y vs 2Y 100.2 bp Normal Convexity in Long-Term vs Short-Term Maturities
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Residual
Maturity
Yield Spread vs Spread vs
Central Bank
Rate (3.15%)
3 months 1 year 2 years 5 years 10 years
30 years 3.763% 61.3bp
10 years 3.103%
-4.7bp
5 years 2.389%
-76.1bp
2 years 2.101%
-104.9bp
1 year 3.247%
9.7bp
3 months 3.569%
41.9bp

Greece 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).

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Rating Agency Rating Outlook Last Update Action
Standard & Poor's BBB- positive 22 Apr 2024 outlook upgrade
Moody's Investors Service Ba1 positive 16 Sep 2024
Fitch Ratings BBB- - 1 Dec 2023 rating upgrade
DBRS BBB (low) positive 9 Sep 2024 outlook upgrade

Greece 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%

Greece 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 57.29 -2.57 % -1.73 % -18.49 % 0.95 %
(*) Implied probability of default, calculated on the hypothesis of a 40% recovery rate.
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Greece 10Y Bond Yield Spread

The Greece 10Y Government Bond has a 3.103% 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.
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Greece 10Y vs Current Spread Chg 1M Chg 6M Chg 12M Compare
Countries
vs Japan 10Y 206.8 bp -10.7 bp -69.0 bp -56.7 bp
vs China 10Y 132.3 bp +19.4 bp -5.3 bp +69.6 bp
vs Germany 10Y 84.1 bp -4.6 bp -48.1 bp -33.8 bp
vs Spain 10Y 16.9 bp +1.7 bp -15.8 bp -4.1 bp
vs France 10Y 5.7 bp -7.8 bp -45.7 bp -58.7 bp
vs Canada 10Y -7.3 bp +1.3 bp -44.1 bp -19.0 bp
vs Italy 10Y -29.9 bp +1.3 bp -3.7 bp +22.5 bp
vs Australia 10Y -128.7 bp +19.3 bp -82.8 bp -48.3 bp
vs United States 10Y -129.8 bp -6.9 bp -76.1 bp -67.2 bp
vs United Kingdom 10Y -131.8 bp -6.6 bp -95.1 bp -82.2 bp
vs India 10Y -373.6 bp -1.8 bp -43.0 bp +16.4 bp
vs Brazil 10Y -1075.8 bp -107.7 bp -242.6 bp -334.0 bp
vs Russia 10Y -1326.2 bp -73.8 bp -181.0 bp -387.1 bp

Greece 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.
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Residual
Maturity
Yield Bond Price - with different Coupon Rates Fx
0% 1% 3% 5% 7% 9%
30 years 3.763% 33.02 50.82 86.42 122.02 157.62 193.22
20 years 3.524% 50.02 64.21 92.57 120.93 149.30 177.66
15 years 3.408% 60.49 72.08 95.27 118.46 141.64 164.83
10 years 3.103% 73.67 82.15 99.13 116.10 133.07 150.04
8 years 2.851% 79.86 86.92 101.05 115.18 129.31 143.44
7 years 2.716% 82.90 89.19 101.79 114.38 126.98 139.57
5 years 2.389% 88.87 93.53 102.85 112.17 121.49 130.81
4 years 2.244% 91.51 95.29 102.86 110.43 118.00 125.57
3 years 2.202% 93.67 96.55 102.29 108.04 113.78 119.53
2 years 2.101% 95.93 97.87 101.74 105.62 109.50 113.38
1 year 3.247% 96.86 97.82 99.76 101.70 103.63 105.57
Maturity Date 100.00 100.00 100.00 100.00 100.00 100.00
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