COUNTRY •
INDIA
Last Update: 9 Feb 2023 0:15 GMT+0
The India 10Y Government Bond has a 7.344% yield.
10 Years vs 2 Years bond spread is 22.7 bp. Yield Curve is flat in Long-Term vs Short-Term Maturities.
Central Bank Rate is 6.50% (last modification in February 2023).
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%.
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 | ||||
| 3 months | 6.580% | +20.0 bp | +100.0 bp | 08 Feb | |||||
| 6 months | 6.940% | +16.0 bp | +111.0 bp | 08 Feb | |||||
| 1 year | 7.021% | +7.9 bp | +68.2 bp | 93.44 | -0.07 % | -0.64 % | 08 Feb | ||
| 2 years | 7.117% | +11.3 bp | +49.6 bp | 87.15 | -0.22 % | -0.93 % | 08 Feb | ||
| 3 years | 7.164% | +5.6 bp | +25.0 bp | 81.26 | -0.15 % | -0.70 % | 08 Feb | ||
| 4 years | 7.235% | +5.7 bp | +28.6 bp | 75.62 | -0.21 % | -1.07 % | 08 Feb | ||
| 5 years | 7.271% | +5.6 bp | +21.7 bp | 70.40 | -0.27 % | -1.01 % | 08 Feb | ||
| 6 years | 7.307% | -1.2 bp | +8.8 bp | 65.50 | +0.08 % | -0.49 % | 08 Feb | ||
| 7 years | 7.342% | +2.3 bp | +12.1 bp | 60.90 | -0.15 % | -0.78 % | 08 Feb | ||
| 8 years | 7.329% | +2.5 bp | +4.8 bp | 56.79 | -0.18 % | -0.35 % | 08 Feb | ||
| 9 years | 7.343% | -2.2 bp | +3.4 bp | 52.85 | +0.19 % | -0.28 % | 08 Feb | ||
| 10 years | 7.344% | +0.2 bp | -0.4 bp | 49.23 | -0.02 % | +0.04 % | 08 Feb | ||
| 11 years | 7.312% | -6.2 bp | -11.6 bp | 46.01 | +0.63 % | +1.19 % | 08 Feb | ||
| 12 years | 7.403% | +1.8 bp | -5.6 bp | 42.44 | -0.21 % | +0.62 % | 08 Feb | ||
| 13 years | 7.406% | -0.1 bp | -7.7 bp | 39.50 | 0.00 % | +0.92 % | 08 Feb | ||
| 14 years | 7.399% | -0.6 bp | -14.5 bp | 36.81 | +0.08 % | +1.91 % | 08 Feb | ||
| 15 years | 7.412% | +0.4 bp | -14.3 bp | 34.21 | -0.06 % | +2.00 % | 08 Feb | ||
| 19 years | 7.395% | -4.1 bp | -21.1 bp | 25.78 | +0.74 % | +3.78 % | 08 Feb | ||
| 24 years | 7.375% | +0.4 bp | -19.7 bp | 18.13 | -0.06 % | +4.50 % | 08 Feb | ||
| 30 years | 7.418% | -0.4 bp | -27.2 bp | 11.69 | +0.17 % | +7.94 % | 08 Feb | ||
| 40 years | 7.421% | n.a. | -27.0 bp | 5.71 | n.a. | +10.66 % | 08 Feb | ||
Last Update: 9 Feb 2023 0:15 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).
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 (6.50%) |
|||||
|---|---|---|---|---|---|---|---|---|
| 3 months | 1 year | 2 years | 5 years | 10 years | ||||
| 30 years | 7.418% | 91.8 bp | ||||||
| 10 years | 7.344% | 84.4 bp | ||||||
| 5 years | 7.271% | 77.1 bp | ||||||
| 2 years | 7.117% | 61.7 bp | ||||||
| 1 year | 7.021% | 52.1 bp | ||||||
| 3 months | 6.580% | 8.0 bp | ||||||
Focusing on 2 years Government Bond:
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| 2Y vs 1Y | 9.6 bp | Normal Convexity in Short-Term Maturities | ||
| 5Y vs 2Y | 15.4 bp | Normal Convexity in Mid-Term vs Short-Term Maturities | ||
| 10Y vs 2Y | 22.7 bp | Yield Curve is flat in Long-Term vs Short-Term Maturities |
Readings that may interest you
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 | 6.50% |
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 7.344% 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
| India 10Y vs | Current Spread | Chg 1M | Chg 6M | ||
|---|---|---|---|---|---|
| Japan 10Y | 685.6 bp | +1.2 bp | -32.4 bp | Compare | |
| Germany 10Y | 498.2 bp | -12.7 bp | -144.6 bp | Compare | |
| France 10Y | 453.8 bp | -6.8 bp | -133.3 bp | Compare | |
| China 10Y | 442.5 bp | -1.2 bp | -17.5 bp | Compare | |
| Canada 10Y | 430.8 bp | +7.1 bp | -32.9 bp | Compare | |
| United Kingdom 10Y | 400.9 bp | +19.9 bp | -134.8 bp | Compare | |
| Spain 10Y | 397.4 bp | -8.8 bp | -131.1 bp | Compare | |
| United States 10Y | 374.6 bp | -6.8 bp | -81.6 bp | Compare | |
| Australia 10Y | 373.7 bp | +9.6 bp | -38.5 bp | Compare | |
| Italy 10Y | 313.5 bp | -1.4 bp | -113.5 bp | Compare | |
| Russia 10Y | -333.6 bp | -33.8 bp | -163.4 bp | Compare | |
| Brazil 10Y | -596.2 bp | -30.2 bp | -117.1 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 | 7.421% | 5.71 | 18.41 | 43.83 | 69.24 | 94.65 | 120.06 | ||
| 30 years | 7.418% | 11.69 | 23.59 | 47.40 | 71.21 | 95.02 | 118.83 | ||
| 24 years | 7.375% | 18.13 | 29.23 | 51.43 | 73.63 | 95.84 | 118.04 | ||
| 19 years | 7.395% | 25.78 | 35.82 | 55.89 | 75.96 | 96.04 | 116.11 | ||
| 15 years | 7.412% | 34.21 | 43.09 | 60.84 | 78.59 | 96.34 | 114.09 | ||
| 14 years | 7.399% | 36.81 | 45.35 | 62.43 | 79.51 | 96.59 | 113.67 | ||
| 13 years | 7.406% | 39.50 | 47.67 | 64.01 | 80.35 | 96.68 | 113.02 | ||
| 12 years | 7.403% | 42.44 | 50.22 | 65.77 | 81.32 | 96.87 | 112.42 | ||
| 11 years | 7.312% | 46.01 | 53.40 | 68.16 | 82.93 | 97.70 | 112.46 | ||
| 10 years | 7.344% | 49.23 | 56.14 | 69.97 | 83.80 | 97.62 | 111.45 | ||
| 9 years | 7.343% | 52.85 | 59.27 | 72.11 | 84.96 | 97.80 | 110.64 | ||
| 8 years | 7.329% | 56.79 | 62.68 | 74.48 | 86.27 | 98.06 | 109.85 | ||
| 7 years | 7.342% | 60.90 | 66.22 | 76.88 | 87.53 | 98.18 | 108.83 | ||
| 6 years | 7.307% | 65.50 | 70.22 | 79.66 | 89.11 | 98.55 | 107.99 | ||
| 5 years | 7.271% | 70.40 | 74.47 | 82.61 | 90.76 | 98.90 | 107.04 | ||
| 4 years | 7.235% | 75.62 | 78.99 | 85.73 | 92.47 | 99.21 | 105.95 | ||
| 3 years | 7.164% | 81.26 | 83.87 | 89.11 | 94.34 | 99.57 | 104.80 | ||
| 2 years | 7.117% | 87.15 | 88.96 | 92.57 | 96.18 | 99.79 | 103.40 | ||
| 1 year | 7.021% | 93.44 | 94.37 | 96.24 | 98.11 | 99.98 | 101.85 | ||
| Maturity Date | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |||