COUNTRY •
INDIA
Last Update: 10 Jun 2023 2:15 GMT+0
The India 10Y Government Bond has a 7.039% yield.
10 Years vs 2 Years bond spread is 14.6 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 | 6.760% | -18.0 bp | +37.0 bp | 09 Jun | |||||
| 6 months | 6.880% | -10.0 bp | +13.0 bp | 09 Jun | |||||
| 1 year | 6.764% | -16.0 bp | -3.7 bp | 93.66 | +0.15 % | +0.03 % | 09 Jun | ||
| 2 years | 6.893% | -0.6 bp | -0.2 bp | 87.52 | +0.01 % | 0.00 % | 09 Jun | ||
| 3 years | 6.945% | -2.5 bp | -15.3 bp | 81.76 | +0.07 % | +0.43 % | 09 Jun | ||
| 4 years | 6.986% | +0.2 bp | -15.8 bp | 76.33 | -0.01 % | +0.59 % | 09 Jun | ||
| 5 years | 6.976% | -1.3 bp | -20.4 bp | 71.38 | +0.06 % | +0.96 % | 09 Jun | ||
| 6 years | 7.019% | -2.4 bp | -26.2 bp | 66.56 | +0.14 % | +1.48 % | 09 Jun | ||
| 7 years | 7.021% | -4.0 bp | -22.5 bp | 62.19 | +0.26 % | +1.48 % | 09 Jun | ||
| 8 years | 7.045% | -4.0 bp | -24.4 bp | 58.01 | +0.31 % | +1.84 % | 09 Jun | ||
| 9 years | 7.076% | -1.1 bp | -25.3 bp | 54.05 | +0.09 % | +2.15 % | 09 Jun | ||
| 10 years | 7.039% | +0.3 bp | -26.0 bp | 50.65 | -0.02 % | +2.45 % | 09 Jun | ||
| 11 years | 7.018% | -12.9 bp | -35.3 bp | 47.42 | +1.32 % | +3.70 % | 09 Jun | ||
| 12 years | 7.110% | -5.1 bp | -27.3 bp | 43.86 | +0.57 % | +3.10 % | 09 Jun | ||
| 13 years | 7.142% | -0.3 bp | -27.3 bp | 40.79 | +0.05 % | +3.37 % | 09 Jun | ||
| 14 years | 7.123% | -1.3 bp | -32.0 bp | 38.16 | +0.16 % | +4.26 % | 09 Jun | ||
| 15 years | 7.121% | -4.4 bp | -37.1 bp | 35.64 | +0.62 % | +5.35 % | 09 Jun | ||
| 19 years | 7.159% | -3.3 bp | -31.9 bp | 26.88 | +0.60 % | +5.79 % | 09 Jun | ||
| 24 years | 7.177% | +1.7 bp | -23.8 bp | 18.95 | -0.37 % | +5.45 % | 09 Jun | ||
| 30 years | 7.240% | +6.7 bp | -19.9 bp | 12.28 | -1.92 % | +5.68 % | 09 Jun | ||
| 40 years | 7.241% | +7.2 bp | -18.5 bp | 6.10 | -2.71 % | +7.02 % | 09 Jun | ||
Last Update: 10 Jun 2023 2:15 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).
If data are not all visible, swipe table left
| 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 | 7.240% | 74.0 bp | ||||||
| 10 years | 7.039% | 53.9 bp | ||||||
| 5 years | 6.976% | 47.6 bp | ||||||
| 2 years | 6.893% | 39.3 bp | ||||||
| 1 year | 6.764% | 26.4 bp | ||||||
| 3 months | 6.760% | 26.0 bp | ||||||
Focusing on 2 years Government Bond:
If data are not all visible, swipe table left
| 2Y vs 1Y | 12.9 bp | Normal Convexity in Short-Term Maturities | ||
| 5Y vs 2Y | 8.3 bp | Yield Curve is flat in Mid-Term vs Short-Term Maturities | ||
| 10Y vs 2Y | 14.6 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 7.039% 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 | 661.5 bp | -1.0 bp | -42.5 bp | Compare | |
| Germany 10Y | 466.4 bp | -7.8 bp | -69.5 bp | Compare | |
| China 10Y | 433.5 bp | +3.3 bp | -3.9 bp | Compare | |
| France 10Y | 412.2 bp | -3.9 bp | -77.9 bp | Compare | |
| Spain 10Y | 368.6 bp | +2.7 bp | -65.3 bp | Compare | |
| Canada 10Y | 363.8 bp | -48.0 bp | -77.9 bp | Compare | |
| United States 10Y | 329.6 bp | -30.1 bp | -41.9 bp | Compare | |
| Australia 10Y | 309.3 bp | -52.9 bp | -84.0 bp | Compare | |
| Italy 10Y | 292.4 bp | +8.4 bp | -53.6 bp | Compare | |
| United Kingdom 10Y | 279.7 bp | -44.2 bp | -131.7 bp | Compare | |
| Russia 10Y | -381.1 bp | -18.7 bp | -100.0 bp | Compare | |
| Brazil 10Y | -412.8 bp | +108.1 bp | +159.2 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 | 7.241% | 6.10 | 19.07 | 45.01 | 70.94 | 96.87 | 122.81 | ||
| 30 years | 7.240% | 12.28 | 24.40 | 48.63 | 72.86 | 97.09 | 121.32 | ||
| 24 years | 7.177% | 18.95 | 30.24 | 52.83 | 75.41 | 98.00 | 120.59 | ||
| 19 years | 7.159% | 26.88 | 37.10 | 57.52 | 77.95 | 98.38 | 118.80 | ||
| 15 years | 7.121% | 35.64 | 44.67 | 62.75 | 80.83 | 98.91 | 116.98 | ||
| 14 years | 7.123% | 38.16 | 46.84 | 64.21 | 81.57 | 98.93 | 116.29 | ||
| 13 years | 7.142% | 40.79 | 49.08 | 65.66 | 82.24 | 98.82 | 115.40 | ||
| 12 years | 7.110% | 43.86 | 51.75 | 67.55 | 83.34 | 99.13 | 114.92 | ||
| 11 years | 7.018% | 47.42 | 54.91 | 69.90 | 84.88 | 99.87 | 114.85 | ||
| 10 years | 7.039% | 50.65 | 57.66 | 71.68 | 85.70 | 99.73 | 113.75 | ||
| 9 years | 7.076% | 54.05 | 60.54 | 73.53 | 86.52 | 99.51 | 112.49 | ||
| 8 years | 7.045% | 58.01 | 63.97 | 75.89 | 87.81 | 99.73 | 111.65 | ||
| 7 years | 7.021% | 62.19 | 67.57 | 78.35 | 89.12 | 99.89 | 110.66 | ||
| 6 years | 7.019% | 66.56 | 71.33 | 80.85 | 90.38 | 99.91 | 109.44 | ||
| 5 years | 6.976% | 71.38 | 75.48 | 83.69 | 91.89 | 100.10 | 108.30 | ||
| 4 years | 6.986% | 76.33 | 79.72 | 86.49 | 93.27 | 100.05 | 106.82 | ||
| 3 years | 6.945% | 81.76 | 84.38 | 89.64 | 94.89 | 100.14 | 105.40 | ||
| 2 years | 6.893% | 87.52 | 89.33 | 92.95 | 96.57 | 100.19 | 103.82 | ||
| 1 year | 6.764% | 93.66 | 94.60 | 96.47 | 98.35 | 100.22 | 102.09 | ||
| Maturity Date | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |||