COUNTRY •
HONG KONG
Last Update: 27 Mar 2023 23:15 GMT+0
The Hong Kong 10Y Government Bond has a 2.884% yield.
10 Years vs 2 Years bond spread is -10.6 bp. Yield Curve is inverted in Long-Term vs Short-Term Maturities.
Central Bank Rate is 5.25% (last modification in March 2023).
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 | 2.182% | -30.8 bp | +16.5 bp | 27 Mar | |||||
| 3 months | 2.690% | -33.3 bp | -14.0 bp | 27 Mar | |||||
| 6 months | 3.003% | -47.7 bp | -54.7 bp | 27 Mar | |||||
| 9 months | 3.001% | -81.8 bp | -77.9 bp | 27 Mar | |||||
| 1 year | 3.001% | -94.2 bp | -88.9 bp | 97.09 | +0.91 % | +0.86 % | 27 Mar | ||
| 2 years | 2.990% | -106.4 bp | -110.9 bp | 94.28 | +2.08 % | +2.17 % | 27 Mar | ||
| 3 years | 2.888% | -105.4 bp | -117.4 bp | 91.81 | +3.10 % | +3.46 % | 27 Mar | ||
| 5 years | 2.756% | -120.6 bp | -120.0 bp | 87.29 | +6.01 % | +5.97 % | 27 Mar | ||
| 7 years | 2.770% | -102.9 bp | -108.4 bp | 82.59 | +7.22 % | +7.62 % | 27 Mar | ||
| 10 years | 2.884% | -95.2 bp | -93.0 bp | 75.25 | +9.65 % | +9.41 % | 27 Mar | ||
| 15 years | 3.025% | -86.7 bp | -100.7 bp | 63.95 | +13.39 % | +15.70 % | 27 Mar | ||
| 20 years | 3.509% | -56.2 bp | n.a. | 50.17 | +11.44 % | n.a. | 27 Mar | ||
Last Update: 27 Mar 2023 23:15 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 (5.25%) |
||||
|---|---|---|---|---|---|---|---|
| 3 months | 1 year | 2 years | 5 years | ||||
| 10 years | 2.884% | -236.6 bp | |||||
| 5 years | 2.756% | -249.4 bp | |||||
| 2 years | 2.990% | -226.0 bp | |||||
| 1 year | 3.001% | -224.9 bp | |||||
| 3 months | 2.690% | -256.0 bp | |||||
Focusing on 2 years Government Bond:
If data are not all visible, swipe table left
| 2Y vs 1Y | -1.1 bp | Yield Curve is inverted in Short-Term Maturities | ||
| 5Y vs 2Y | -23.4 bp | Yield Curve is inverted in Mid-Term vs Short-Term Maturities | ||
| 10Y vs 2Y | -10.6 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 | 5.25% |
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 2.884% 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 | 258.5 bp | -75.4 bp | -98.1 bp | Compare | |
| Germany 10Y | 66.1 bp | -54.0 bp | -103.4 bp | Compare | |
| France 10Y | 11.5 bp | -62.4 bp | -97.2 bp | Compare | |
| China 10Y | 1.0 bp | -89.8 bp | -105.8 bp | Compare | |
| Canada 10Y | -3.6 bp | -50.4 bp | -76.3 bp | Compare | |
| Australia 10Y | -41.3 bp | -36.6 bp | -29.0 bp | Compare | |
| Spain 10Y | -42.4 bp | -60.5 bp | -91.2 bp | Compare | |
| United Kingdom 10Y | -49.9 bp | -46.5 bp | -30.3 bp | Compare | |
| United States 10Y | -65.9 bp | -56.5 bp | -74.0 bp | Compare | |
| Italy 10Y | -119.7 bp | -58.4 bp | -42.6 bp | Compare | |
| India 10Y | -442.8 bp | -80.7 bp | -90.9 bp | Compare | |
| Russia 10Y | -740.6 bp | -26.2 bp | -135.0 bp | Compare | |
| Brazil 10Y | -1005.5 bp | -63.0 bp | -179.5 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% | ||||
| 20 years | 3.509% | 50.17 | 64.37 | 92.77 | 121.17 | 149.58 | 177.98 | ||
| 15 years | 3.025% | 63.95 | 75.87 | 99.70 | 123.53 | 147.37 | 171.20 | ||
| 10 years | 2.884% | 75.25 | 83.83 | 101.00 | 118.16 | 135.32 | 152.48 | ||
| 7 years | 2.770% | 82.59 | 88.88 | 101.45 | 114.01 | 126.58 | 139.15 | ||
| 5 years | 2.756% | 87.29 | 91.90 | 101.13 | 110.35 | 119.57 | 128.80 | ||
| 3 years | 2.888% | 91.81 | 94.65 | 100.32 | 105.99 | 111.66 | 117.33 | ||
| 2 years | 2.990% | 94.28 | 96.19 | 100.02 | 103.85 | 107.67 | 111.50 | ||
| 1 year | 3.001% | 97.09 | 98.06 | 100.00 | 101.94 | 103.88 | 105.82 | ||
| Maturity Date | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |||