COUNTRY •
HONG KONG
Last Update: 28 Jun 2022 11:15 GMT+0
The Hong Kong 10Y Government Bond has a 3.111% yield.
10 Years vs 2 Years bond spread is 44.6 bp. Normal Convexity in Long-Term vs Short-Term Maturities.
Central Bank Rate is 2.00% (last modification in June 2022).
The Hong Kong credit rating is AA+, according to Standard & Poor's agency.
Current 5-Years Credit Default Swap quotation is 27.90 and implied probability of default is 0.47%.
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 | 0.365% | +26.8 bp | +25.4 bp | 28 Jun | |||||
| 3 months | 0.909% | +62.9 bp | +75.0 bp | 28 Jun | |||||
| 6 months | 1.781% | +95.1 bp | +159.0 bp | 28 Jun | |||||
| 9 months | 2.089% | +90.9 bp | +184.8 bp | 28 Jun | |||||
| 1 year | 2.300% | +76.9 bp | +205.0 bp | 97.75 | -0.75 % | -2.01 % | 28 Jun | ||
| 2 years | 2.665% | +58.1 bp | +205.1 bp | 94.88 | -1.13 % | -3.95 % | 28 Jun | ||
| 3 years | 2.581% | +58.5 bp | +208.4 bp | 92.64 | -1.70 % | -5.97 % | 28 Jun | ||
| 5 years | 2.850% | +34.3 bp | +185.6 bp | 86.89 | -1.66 % | -8.70 % | 28 Jun | ||
| 7 years | 2.921% | +37.2 bp | +182.2 bp | 81.75 | -2.50 % | -11.75 % | 28 Jun | ||
| 10 years | 3.111% | +42.4 bp | +174.9 bp | 73.61 | -4.04 % | -15.73 % | 28 Jun | ||
| 15 years | 3.217% | +35.2 bp | +168.4 bp | 62.19 | -5.00 % | -21.87 % | 28 Jun | ||
Last Update: 28 Jun 2022 11:15 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 (2.00%) |
||||
|---|---|---|---|---|---|---|---|
| 3 months | 1 year | 2 years | 5 years | ||||
| 10 years | 3.111% | 111.1 bp | |||||
| 5 years | 2.850% | 85.0 bp | |||||
| 2 years | 2.665% | 66.5 bp | |||||
| 1 year | 2.300% | 30.0 bp | |||||
| 3 months | 0.909% | -109.1 bp | |||||
Focusing on 2 years Government Bond:
If data are not all visible, swipe table left
| 2Y vs 1Y | 36.5 bp | Normal Convexity in Short-Term Maturities | ||
| 5Y vs 2Y | 18.5 bp | Normal Convexity in Mid-Term vs Short-Term Maturities | ||
| 10Y vs 2Y | 44.6 bp | Normal Convexity 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 | 2.00% |
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 | 27.90 | -15.20 % | -20.51 % | -2.11 % | 0.47 % |
(*) 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 3.111% 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 | 288.1 bp | +41.7 bp | +157.8 bp | Compare | |
| Germany 10Y | 145.6 bp | -25.5 bp | -14.2 bp | Compare | |
| France 10Y | 92.0 bp | -27.3 bp | -31.1 bp | Compare | |
| United Kingdom 10Y | 62.4 bp | -13.9 bp | +18.5 bp | Compare | |
| Spain 10Y | 36.9 bp | -23.0 bp | -48.3 bp | Compare | |
| China 10Y | 25.4 bp | +31.7 bp | +171.2 bp | Compare | |
| United States 10Y | -13.8 bp | -8.2 bp | -1.6 bp | Compare | |
| Canada 10Y | -34.7 bp | -24.4 bp | -23.3 bp | Compare | |
| Italy 10Y | -57.3 bp | -36.4 bp | -84.0 bp | Compare | |
| Australia 10Y | -70.8 bp | -14.6 bp | -48.3 bp | Compare | |
| India 10Y | -434.6 bp | +31.7 bp | +77.0 bp | Compare | |
| Russia 10Y | -550.9 bp | +131.4 bp | +154.4 bp | Compare | |
| Brazil 10Y | -967.1 bp | +7.5 bp | -32.6 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 | 3.217% | 62.19 | 73.94 | 97.45 | 120.96 | 144.46 | 167.97 | ||
| 10 years | 3.111% | 73.61 | 82.09 | 99.06 | 116.02 | 132.99 | 149.95 | ||
| 7 years | 2.921% | 81.75 | 88.00 | 100.49 | 112.99 | 125.49 | 137.99 | ||
| 5 years | 2.850% | 86.89 | 91.49 | 100.69 | 109.89 | 119.09 | 128.29 | ||
| 3 years | 2.581% | 92.64 | 95.49 | 101.19 | 106.90 | 112.60 | 118.30 | ||
| 2 years | 2.665% | 94.88 | 96.80 | 100.64 | 104.49 | 108.34 | 112.18 | ||
| 1 year | 2.300% | 97.75 | 98.73 | 100.68 | 102.64 | 104.59 | 106.55 | ||
| Maturity Date | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |||