COUNTRY •
HONG KONG
Last Update: 27 Nov 2022 9:15 GMT+0
The Hong Kong 10Y Government Bond has a 3.610% yield.
10 Years vs 2 Years bond spread is -95.6 bp. Yield Curve is inverted in Long-Term vs Short-Term Maturities.
Central Bank Rate is 4.25% (last modification in November 2022).
The Hong Kong credit rating is AA+, according to Standard & Poor's agency.
Current 5-Years Credit Default Swap quotation is 36.20 and implied probability of default is 0.60%.
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 | 3.526% | +157.2 bp | +342.9 bp | 27 Nov | |||||
| 3 months | 4.049% | +98.0 bp | +376.9 bp | 27 Nov | |||||
| 6 months | 4.400% | +52.9 bp | +357.0 bp | 27 Nov | |||||
| 9 months | 4.601% | +42.2 bp | +342.1 bp | 27 Nov | |||||
| 1 year | 4.681% | +40.0 bp | +315.0 bp | 95.53 | -0.38 % | -3.01 % | 27 Nov | ||
| 2 years | 4.566% | +7.5 bp | +248.2 bp | 91.46 | -0.14 % | -4.69 % | 27 Nov | ||
| 3 years | 4.321% | -9.3 bp | +232.5 bp | 88.08 | +0.26 % | -6.54 % | 27 Nov | ||
| 5 years | 3.836% | -44.8 bp | +132.9 bp | 82.84 | +2.17 % | -6.25 % | 27 Nov | ||
| 7 years | 3.692% | -46.3 bp | +114.3 bp | 77.59 | +3.18 % | -7.47 % | 27 Nov | ||
| 10 years | 3.610% | -45.0 bp | +92.3 bp | 70.14 | +4.42 % | -8.56 % | 27 Nov | ||
| 15 years | 3.739% | -50.2 bp | +87.4 bp | 57.66 | +7.51 % | -11.92 % | 27 Nov | ||
Last Update: 27 Nov 2022 9:15 GMT+0
Hong Kong 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 (4.25%) |
||||
|---|---|---|---|---|---|---|---|
| 3 months | 1 year | 2 years | 5 years | ||||
| 10 years | 3.610% | -64.0 bp | |||||
| 5 years | 3.836% | -41.4 bp | |||||
| 2 years | 4.566% | 31.6 bp | |||||
| 1 year | 4.681% | 43.1 bp | |||||
| 3 months | 4.049% | -20.1 bp | |||||
Focusing on 2 years Government Bond:
If data are not all visible, swipe table left
| 2Y vs 1Y | -11.5 bp | Yield Curve is inverted in Short-Term Maturities | ||
| 5Y vs 2Y | -73 bp | Yield Curve is inverted in Mid-Term vs Short-Term Maturities | ||
| 10Y vs 2Y | -95.6 bp | Yield Curve is inverted in Long-Term vs Short-Term Maturities |
Readings that may interest you
Hong Kong 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
Hong Kong Credit Ratings History
| Rating Agency | Rating | Outlook |
|---|---|---|
| Standard & Poor's |
AA+
|
- |
| Moody's Investors Service |
Aa3
|
- |
| Fitch Ratings |
AA-
|
- |
| DBRS |
-
|
- |
Hong Kong 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 | 4.25% |
Hong Kong 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 | 36.20 | 0.00 % | 0.00 % | +13.84 % | 0.60 % |
(*) Implied probability of default, calculated on the hypothesis of a 40% recovery rate.
Hong Kong 10Y Bond Yield Spread
The Hong Kong 10Y Government Bond has a 3.610% 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
| Hong Kong 10Y vs | Current Spread | Chg 1M | Chg 6M | ||
|---|---|---|---|---|---|
| Japan 10Y | 335.5 bp | -46.0 bp | +89.1 bp | Compare | |
| Germany 10Y | 164.0 bp | -45.7 bp | -7.1 bp | Compare | |
| France 10Y | 117.6 bp | -41.2 bp | -1.7 bp | Compare | |
| China 10Y | 76.9 bp | -59.0 bp | +83.2 bp | Compare | |
| Canada 10Y | 67.2 bp | -18.9 bp | +77.5 bp | Compare | |
| Spain 10Y | 65.5 bp | -39.7 bp | +5.6 bp | Compare | |
| United Kingdom 10Y | 49.9 bp | -11.2 bp | -26.4 bp | Compare | |
| Australia 10Y | 1.8 bp | -27.2 bp | +58.0 bp | Compare | |
| United States 10Y | -8.1 bp | -21.2 bp | -2.5 bp | Compare | |
| Italy 10Y | -23.9 bp | -32.1 bp | -3.0 bp | Compare | |
| India 10Y | -369.1 bp | -33.9 bp | +97.2 bp | Compare | |
| Russia 10Y | -646.0 bp | -69.0 bp | +36.3 bp | Compare | |
| Brazil 10Y | -1004.6 bp | -198.3 bp | -30.0 bp | Compare |
Hong Kong 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% | ||||
| 15 years | 3.739% | 57.66 | 68.98 | 91.63 | 114.28 | 136.93 | 159.58 | ||
| 10 years | 3.610% | 70.14 | 78.41 | 94.95 | 111.50 | 128.04 | 144.58 | ||
| 7 years | 3.692% | 77.59 | 83.66 | 95.80 | 107.94 | 120.08 | 132.22 | ||
| 5 years | 3.836% | 82.84 | 87.32 | 96.26 | 105.21 | 114.15 | 123.10 | ||
| 3 years | 4.321% | 88.08 | 90.84 | 96.36 | 101.87 | 107.39 | 112.91 | ||
| 2 years | 4.566% | 91.46 | 93.33 | 97.07 | 100.81 | 104.55 | 108.30 | ||
| 1 year | 4.681% | 95.53 | 96.48 | 98.39 | 100.30 | 102.22 | 104.13 | ||
| Maturity Date | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |||