COUNTRY • ITALY
Last Update: 7 Jun 2023 23:23 GMT+0

The Italy 10Y Government Bond has a 4.293% yield.

10 Years vs 2 Years bond spread is 69.4 bp.
Normal Convexity in Long-Term vs Short-Term Maturities.

Central Bank Rate is 3.75% (last modification in May 2023).

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

Current 5-Years Credit Default Swap quotation is 98.51 and implied probability of default is 1.64%.

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 3.153% +20.7 bp +225.8 bp 07 Jun
3 months 3.275% +11.8 bp +206.0 bp 07 Jun
6 months 3.510% +22.0 bp +134.1 bp 07 Jun
9 months 3.566% +29.9 bp +125.3 bp 07 Jun
1 year 3.593% +20.4 bp +100.6 bp 96.53 -0.20 % -0.97 % 07 Jun
2 years 3.599% +28.4 bp +99.7 bp 93.17 -0.56 % -1.92 % 07 Jun
3 years 3.566% +12.3 bp +80.1 bp 90.02 -0.35 % -2.30 % 07 Jun
4 years 3.666% +8.1 bp +76.7 bp 86.59 -0.31 % -2.93 % 07 Jun
5 years 3.687% +2.7 bp +52.7 bp 83.44 -0.13 % -2.51 % 07 Jun
6 years 3.799% -0.3 bp +58.9 bp 79.95 +0.01 % -3.36 % 07 Jun
7 years 3.964% -6.5 bp +65.2 bp 76.18 +0.45 % -4.31 % 07 Jun
8 years 4.040% -3.6 bp +51.6 bp 72.84 +0.28 % -3.91 % 07 Jun
9 years 4.144% -2.7 bp +54.3 bp 69.39 +0.23 % -4.59 % 07 Jun
10 years 4.293% +5.6 bp +57.6 bp 65.68 -0.55 % -5.39 % 07 Jun
15 years 4.499% -3.7 bp +75.7 bp 51.68 +0.53 % -10.32 % 07 Jun
20 years 4.693% -0.6 bp +78.2 bp 39.96 +0.10 % -13.93 % 07 Jun
25 years 4.589% -2.8 bp +85.0 bp 32.57 +0.65 % -18.45 % 07 Jun
30 years 4.565% -2.8 bp +95.2 bp 26.21 +0.81 % -23.98 % 07 Jun
50 years 4.448% +3.8 bp +82.1 bp 11.35 -1.82 % -32.60 % 07 Jun
Last Update: 7 Jun 2023 23:23 GMT+0

Italy 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 (3.75%)
3 months 1 year 2 years 5 years 10 years
30 years 4.565% 81.5 bp
10 years 4.293%
54.3 bp
5 years 3.687%
-6.3 bp
2 years 3.599%
-15.1 bp
1 year 3.593%
-15.7 bp
3 months 3.275%
-47.5 bp
Focusing on 2 years Government Bond:
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2Y vs 1Y 0.6 bp Yield Curve is flat in Short-Term Maturities
5Y vs 2Y 8.8 bp Yield Curve is flat in Mid-Term vs Short-Term Maturities
10Y vs 2Y 69.4 bp Normal Convexity in Long-Term vs Short-Term Maturities

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

Italy 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 3.75%

Italy 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 98.51 -6.13 % -12.67 % -23.10 % 1.64 %
(*) Implied probability of default, calculated on the hypothesis of a 40% recovery rate.

Italy 10Y Bond Yield Spread

The Italy 10Y Government Bond has a 4.293% 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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Italy 10Y vs Current Spread Chg 1M Chg 6M
Japan 10Y 387.0 bp +4.7 bp +40.6 bp Compare
Germany 10Y 183.8 bp -8.3 bp -4.1 bp Compare
China 10Y 157.3 bp +10.0 bp +76.2 bp Compare
France 10Y 128.5 bp -3.6 bp -12.8 bp Compare
Canada 10Y 82.6 bp -41.5 bp -7.8 bp Compare
Spain 10Y 81.2 bp -0.8 bp -7.4 bp Compare
United States 10Y 49.6 bp -22.4 bp +27.0 bp Compare
Australia 10Y 32.6 bp -43.6 bp -2.7 bp Compare
United Kingdom 10Y 3.5 bp -43.0 bp -58.7 bp Compare
India 10Y -268.9 bp +12.1 bp +88.2 bp Compare
Russia 10Y -652.7 bp -12.4 bp -11.4 bp Compare
Brazil 10Y -680.4 bp +120.4 bp +246.5 bp Compare

Italy 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%
50 years 4.448% 11.35 31.28 71.14 111.00 150.86 190.72
30 years 4.565% 26.21 42.37 74.70 107.03 139.36 171.69
25 years 4.589% 32.57 47.27 76.65 106.04 135.43 164.81
20 years 4.693% 39.96 52.76 78.34 103.93 129.51 155.10
15 years 4.499% 51.68 62.42 83.90 105.38 126.86 148.34
10 years 4.293% 65.68 73.68 89.66 105.65 121.64 137.63
9 years 4.144% 69.39 76.78 91.55 106.32 121.10 135.87
8 years 4.040% 72.84 79.57 93.01 106.45 119.90 133.34
7 years 3.964% 76.18 82.19 94.21 106.23 118.25 130.27
6 years 3.799% 79.95 85.23 95.78 106.34 116.89 127.44
5 years 3.687% 83.44 87.93 96.91 105.90 114.88 123.86
4 years 3.666% 86.59 90.25 97.56 104.88 112.20 119.52
3 years 3.566% 90.02 92.82 98.42 104.01 109.61 115.20
2 years 3.599% 93.17 95.07 98.86 102.66 106.45 110.25
1 year 3.593% 96.53 97.50 99.43 101.36 103.29 105.22
Maturity Date 100.00 100.00 100.00 100.00 100.00 100.00

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