COUNTRY • INDIA
Last Update: 27 Jun 2022 8:15 GMT+0

The India 10Y Government Bond has a 7.433% yield.

10 Years vs 2 Years bond spread is 84.8 bp.
Normal Convexity in Long-Term vs Short-Term Maturities.

Central Bank Rate is 4.90% (last modification in June 2022).

The India credit rating is BBB-, according to Standard & Poor's agency.

Current 5-Years Credit Default Swap quotation is 107.14 and implied probability of default is 1.79%.

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Residual
Maturity
Yield ZC Price Last
Change
Last Chg 1M Chg 6M Last Chg 1M Chg 6M
3 months 5.080% +18.0 bp +144.0 bp 27 Jun
6 months 5.680% +21.0 bp +173.0 bp 27 Jun
1 year 6.274% +36.2 bp +182.0 bp 94.10 -0.34 % -1.71 % 27 Jun
2 years 6.585% +26.4 bp +130.6 bp 88.03 -0.49 % -2.43 % 27 Jun
3 years 7.022% +16.5 bp +174.4 bp 81.58 -0.46 % -4.81 % 27 Jun
4 years 7.157% +15.1 bp +133.8 bp 75.84 -0.56 % -4.90 % 27 Jun
5 years 7.269% +12.8 bp +141.1 bp 70.41 -0.59 % -6.41 % 27 Jun
6 years 7.348% +14.7 bp +107.6 bp 65.35 -0.82 % -5.86 % 27 Jun
7 years 7.372% +14.1 bp +98.4 bp 60.78 -0.91 % -6.25 % 27 Jun
8 years 7.496% +23.7 bp +100.1 bp 56.09 -1.75 % -7.21 % 27 Jun
9 years 7.431% +7.3 bp +103.9 bp 52.46 -0.61 % -8.38 % 27 Jun
10 years 7.433% +8.3 bp +96.8 bp 48.82 -0.77 % -8.66 % 27 Jun
11 years 7.576% +9.6 bp +95.8 bp 44.78 -0.99 % -9.39 % 27 Jun
12 years 7.490% +1.1 bp +79.8 bp 42.03 -0.12 % -8.55 % 27 Jun
13 years 7.575% +6.6 bp +67.6 bp 38.70 -0.79 % -7.88 % 27 Jun
14 years 7.607% +8.9 bp +70.8 bp 35.83 -1.16 % -8.83 % 27 Jun
15 years 7.624% +4.7 bp +73.9 bp 33.22 -0.66 % -9.80 % 27 Jun
19 years 7.605% +6.2 bp +62.3 bp 24.84 -1.11 % -10.45 % 27 Jun
24 years 7.519% -4.6 bp +53.5 bp 17.55 +1.04 % -11.32 % 27 Jun
30 years 7.730% +10.1 bp +66.9 bp 10.71 -2.81 % -17.04 % 27 Jun
40 years 7.700% +7.1 bp n.a. 5.14 -2.65 % n.a. 27 Jun
Last Update: 27 Jun 2022 8:15 GMT+0

India 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 (4.90%)
3 months 1 year 2 years 5 years 10 years
30 years 7.730% 283.0 bp
10 years 7.433%
253.3 bp
5 years 7.269%
236.9 bp
2 years 6.585%
168.5 bp
1 year 6.274%
137.4 bp
3 months 5.080%
18.0 bp
Focusing on 2 years Government Bond:
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2Y vs 1Y 31.1 bp Normal Convexity in Short-Term Maturities
5Y vs 2Y 68.4 bp Normal Convexity in Mid-Term vs Short-Term Maturities
10Y vs 2Y 84.8 bp Normal Convexity in Long-Term vs Short-Term Maturities

India 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 India Credit Ratings History
Rating Agency Rating Outlook
Standard & Poor's
BBB-
-
Moody's Investors Service
Baa3
-
Fitch Ratings
BBB-
-
DBRS
BBB (low)
-

India 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 4.90%

India 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 107.14 +7.66 % +20.00 % +44.80 % 1.79 %
(*) Implied probability of default, calculated on the hypothesis of a 40% recovery rate.

India 10Y Bond Yield Spread

The India 10Y Government Bond has a 7.433% 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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India 10Y vs Current Spread Chg 1M Chg 6M
Japan 10Y 720.5 bp +7.8 bp +79.8 bp Compare
Germany 10Y 594.1 bp -43.3 bp -76.6 bp Compare
France 10Y 541.1 bp -44.5 bp -92.9 bp Compare
United Kingdom 10Y 506.2 bp -36.4 bp -48.0 bp Compare
Spain 10Y 483.4 bp -42.8 bp -112.0 bp Compare
China 10Y 458.2 bp -1.8 bp +94.4 bp Compare
United States 10Y 427.3 bp -33.4 bp -71.3 bp Compare
Canada 10Y 410.0 bp -46.0 bp -88.9 bp Compare
Italy 10Y 382.5 bp -62.9 bp -152.1 bp Compare
Australia 10Y 365.2 bp -44.9 bp -121.9 bp Compare
Russia 10Y -125.7 bp +90.3 bp +69.3 bp Compare
Brazil 10Y -523.5 bp -15.2 bp -100.6 bp Compare

India 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%
40 years 7.700% 5.14 17.46 42.10 66.74 91.38 116.01
30 years 7.730% 10.71 22.26 45.36 68.47 91.57 114.67
24 years 7.519% 17.55 28.52 50.45 72.38 94.31 116.24
19 years 7.605% 24.84 34.72 54.49 74.26 94.02 113.79
15 years 7.624% 33.22 41.98 59.50 77.01 94.53 112.05
14 years 7.607% 35.83 44.26 61.14 78.01 94.88 111.75
13 years 7.575% 38.70 46.80 62.98 79.16 95.35 111.53
12 years 7.490% 42.03 49.77 65.25 80.73 96.21 111.69
11 years 7.576% 44.78 52.07 66.65 81.23 95.80 110.38
10 years 7.433% 48.82 55.71 69.48 83.25 97.02 110.79
9 years 7.431% 52.46 58.86 71.65 84.45 97.24 110.04
8 years 7.496% 56.09 61.95 73.66 85.38 97.09 108.81
7 years 7.372% 60.78 66.10 76.74 87.38 98.02 108.66
6 years 7.348% 65.35 70.06 79.50 88.93 98.36 107.79
5 years 7.269% 70.41 74.48 82.62 90.76 98.90 107.05
4 years 7.157% 75.84 79.22 85.97 92.72 99.47 106.22
3 years 7.022% 81.58 84.20 89.45 94.70 99.94 105.19
2 years 6.585% 88.03 89.84 93.48 97.12 100.75 104.39
1 year 6.274% 94.10 95.04 96.92 98.80 100.68 102.57
Maturity Date 100.00 100.00 100.00 100.00 100.00 100.00

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