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%.

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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).
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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:
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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

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.
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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.
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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

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