COUNTRY • JAPAN
Last Update: 28 Jun 2022 11:15 GMT+0

The Japan 10Y Government Bond has a 0.230% yield.

10 Years vs 2 Years bond spread is 28 bp.
Yield Curve is flat in Long-Term vs Short-Term Maturities.

Central Bank Rate is -0.10% (last modification in January 2016).

The Japan credit rating is A+, according to Standard & Poor's agency.

Current 5-Years Credit Default Swap quotation is 22.00 and implied probability of default is 0.37%.

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 -0.169% -5.5 bp -6.1 bp 28 Jun
3 months -0.155% -6.8 bp -3.6 bp 28 Jun
6 months -0.133% -5.3 bp -1.9 bp 28 Jun
9 months -0.124% +7.8 bp -1.0 bp 28 Jun
1 year -0.100% -0.6 bp -0.2 bp 100.10 +0.01 % 0.00 % 28 Jun
2 years -0.050% +1.6 bp +4.9 bp 100.10 -0.03 % -0.10 % 28 Jun
3 years -0.027% +2.3 bp +7.8 bp 100.08 -0.07 % -0.24 % 28 Jun
4 years 0.005% +3.0 bp +9.4 bp 99.98 -0.12 % -0.38 % 28 Jun
5 years 0.043% +4.4 bp +12.5 bp 99.79 -0.22 % -0.62 % 28 Jun
6 years 0.136% +8.3 bp +21.6 bp 99.19 -0.49 % -1.28 % 28 Jun
7 years 0.225% +12.2 bp +30.5 bp 98.44 -0.85 % -2.11 % 28 Jun
8 years 0.250% +10.5 bp +29.0 bp 98.02 -0.84 % -2.29 % 28 Jun
9 years 0.249% +5.4 bp +22.9 bp 97.79 -0.48 % -2.03 % 28 Jun
10 years 0.230% +0.7 bp +17.1 bp 97.73 -0.07 % -1.69 % 28 Jun
15 years 0.687% +18.0 bp +38.9 bp 90.24 -2.64 % -5.64 % 28 Jun
20 years 0.936% +20.2 bp +46.2 bp 83.00 -3.92 % -8.77 % 28 Jun
30 years 1.294% +30.4 bp +60.7 bp 68.00 -8.61 % -16.49 % 28 Jun
40 years 1.398% +32.7 bp +66.4 bp 57.39 -12.11 % -23.11 % 28 Jun
Last Update: 28 Jun 2022 11:15 GMT+0

Japan 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 (-0.10%)
3 months 1 year 2 years 5 years 10 years
30 years 1.294% 139.4 bp
10 years 0.230%
33.0 bp
5 years 0.043%
14.3 bp
2 years -0.050%
5.0 bp
1 year -0.100%
0.0 bp
3 months -0.155%
-5.5 bp
Focusing on 2 years Government Bond:
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2Y vs 1Y 5 bp Yield Curve is flat in Short-Term Maturities
5Y vs 2Y 9.3 bp Yield Curve is flat in Mid-Term vs Short-Term Maturities
10Y vs 2Y 28 bp Yield Curve is flat in Long-Term vs Short-Term Maturities

Japan 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 Japan Credit Ratings History
Rating Agency Rating Outlook
Standard & Poor's
A+
-
Moody's Investors Service
A1
-
Fitch Ratings
A
-
DBRS
A (high)
-

Japan 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 -0.10%

Japan 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 22.00 -0.90 % +9.45 % +30.18 % 0.37 %
(*) Implied probability of default, calculated on the hypothesis of a 40% recovery rate.

Japan 10Y Bond Yield Spread

The Japan 10Y Government Bond has a 0.230% 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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Japan 10Y vs Current Spread Chg 1M Chg 6M
Germany 10Y -142.5 bp -67.2 bp -172.0 bp Compare
France 10Y -196.1 bp -69.0 bp -188.9 bp Compare
United Kingdom 10Y -225.7 bp -55.6 bp -139.3 bp Compare
Spain 10Y -251.2 bp -64.7 bp -206.1 bp Compare
China 10Y -262.7 bp -10.0 bp +13.4 bp Compare
United States 10Y -301.9 bp -49.9 bp -159.4 bp Compare
Canada 10Y -322.8 bp -66.1 bp -181.1 bp Compare
Italy 10Y -345.4 bp -78.1 bp -241.8 bp Compare
Australia 10Y -358.9 bp -56.3 bp -206.1 bp Compare
India 10Y -722.7 bp -10.0 bp -80.8 bp Compare
Russia 10Y -839.0 bp +89.7 bp -3.4 bp Compare
Brazil 10Y -1255.2 bp -34.2 bp -190.4 bp Compare

Japan 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 1.398% 57.39 87.87 148.83 209.79 270.75 331.71
30 years 1.294% 68.00 92.73 142.19 191.66 241.12 290.58
20 years 0.936% 83.00 101.16 137.49 173.81 210.14 246.46
15 years 0.687% 90.24 104.45 132.86 161.27 189.69 218.10
10 years 0.230% 97.73 107.60 127.35 147.10 166.85 186.60
9 years 0.249% 97.79 106.68 124.45 142.23 160.01 177.79
8 years 0.250% 98.02 105.93 121.75 137.58 153.40 169.22
7 years 0.225% 98.44 105.38 119.25 133.13 147.00 160.88
6 years 0.136% 99.19 105.16 117.10 129.05 140.99 152.93
5 years 0.043% 99.79 104.78 114.77 124.75 134.74 144.73
4 years 0.005% 99.98 103.98 111.98 119.98 127.98 135.98
3 years -0.027% 100.08 103.08 109.09 115.09 121.09 127.10
2 years -0.050% 100.10 102.10 106.10 110.11 114.11 118.11
1 year -0.100% 100.10 101.10 103.10 105.11 107.11 109.11
Maturity Date 100.00 100.00 100.00 100.00 100.00 100.00

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