COUNTRY •
JAPAN
Last Update: 9 Feb 2023 0:15 GMT+0
The Japan 10Y Government Bond has a 0.488% yield.
10 Years vs 2 Years bond spread is 52 bp. Normal Convexity 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 17.12 and implied probability of default is 0.29%.
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 | -0.138% | -0.9 bp | -0.5 bp | 08 Feb | |||||
| 3 months | -0.179% | -5.7 bp | -6.9 bp | 08 Feb | |||||
| 6 months | -0.106% | +0.9 bp | +2.0 bp | 08 Feb | |||||
| 9 months | -0.102% | +0.5 bp | +5.7 bp | 08 Feb | |||||
| 1 year | -0.081% | -6.8 bp | +6.0 bp | 100.08 | +0.07 % | -0.06 % | 08 Feb | ||
| 2 years | -0.032% | -4.8 bp | +6.3 bp | 100.06 | +0.09 % | -0.13 % | 08 Feb | ||
| 3 years | 0.006% | -3.0 bp | +11.1 bp | 99.98 | +0.09 % | -0.34 % | 08 Feb | ||
| 4 years | 0.101% | -3.9 bp | +18.0 bp | 99.60 | +0.16 % | -0.72 % | 08 Feb | ||
| 5 years | 0.183% | -1.0 bp | +22.3 bp | 99.09 | +0.05 % | -1.11 % | 08 Feb | ||
| 6 years | 0.306% | -3.9 bp | +32.3 bp | 98.18 | +0.23 % | -1.92 % | 08 Feb | ||
| 7 years | 0.386% | -5.8 bp | +35.5 bp | 97.34 | +0.40 % | -2.45 % | 08 Feb | ||
| 8 years | 0.487% | -2.7 bp | +41.3 bp | 96.19 | +0.22 % | -3.24 % | 08 Feb | ||
| 9 years | 0.479% | +2.1 bp | +36.2 bp | 95.79 | -0.19 % | -3.19 % | 08 Feb | ||
| 10 years | 0.488% | -1.0 bp | +32.0 bp | 95.25 | +0.11 % | -3.14 % | 08 Feb | ||
| 15 years | 1.050% | +0.5 bp | +52.7 bp | 85.50 | -0.07 % | -7.54 % | 08 Feb | ||
| 20 years | 1.318% | +3.8 bp | +52.4 bp | 76.96 | -0.75 % | -9.85 % | 08 Feb | ||
| 30 years | 1.547% | -3.3 bp | +44.0 bp | 63.09 | +0.98 % | -12.22 % | 08 Feb | ||
| 40 years | 1.627% | -7.4 bp | +38.7 bp | 52.44 | +2.96 % | -14.15 % | 08 Feb | ||
Last Update: 9 Feb 2023 0:15 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).
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 (-0.10%) |
|||||
|---|---|---|---|---|---|---|---|---|
| 3 months | 1 year | 2 years | 5 years | 10 years | ||||
| 30 years | 1.547% | 164.7 bp | ||||||
| 10 years | 0.488% | 58.8 bp | ||||||
| 5 years | 0.183% | 28.3 bp | ||||||
| 2 years | -0.032% | 6.8 bp | ||||||
| 1 year | -0.081% | 1.9 bp | ||||||
| 3 months | -0.179% | -7.9 bp | ||||||
Focusing on 2 years Government Bond:
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| 2Y vs 1Y | 4.9 bp | Yield Curve is flat in Short-Term Maturities | ||
| 5Y vs 2Y | 21.5 bp | Normal Convexity in Mid-Term vs Short-Term Maturities | ||
| 10Y vs 2Y | 52 bp | Normal Convexity in Long-Term vs Short-Term Maturities |
Readings that may interest you
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 | 17.12 | 0.00 % | 0.00 % | -3.26 % | 0.29 % |
(*) 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 0.488% 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
| Japan 10Y vs | Current Spread | Chg 1M | Chg 6M | ||
|---|---|---|---|---|---|
| Germany 10Y | -187.4 bp | -13.9 bp | -112.2 bp | Compare | |
| France 10Y | -231.8 bp | -8.0 bp | -100.9 bp | Compare | |
| China 10Y | -243.1 bp | -2.4 bp | +14.9 bp | Compare | |
| Canada 10Y | -254.8 bp | +5.9 bp | -0.5 bp | Compare | |
| United Kingdom 10Y | -284.7 bp | +18.7 bp | -102.4 bp | Compare | |
| Spain 10Y | -288.2 bp | -10.0 bp | -98.7 bp | Compare | |
| United States 10Y | -311.0 bp | -8.0 bp | -49.2 bp | Compare | |
| Australia 10Y | -311.9 bp | +8.4 bp | -6.1 bp | Compare | |
| Italy 10Y | -372.1 bp | -2.6 bp | -81.1 bp | Compare | |
| India 10Y | -685.6 bp | -1.2 bp | +32.4 bp | Compare | |
| Russia 10Y | -1019.2 bp | -35.0 bp | -131.0 bp | Compare | |
| Brazil 10Y | -1281.8 bp | -31.4 bp | -84.7 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 | 1.627% | 52.44 | 81.67 | 140.14 | 198.61 | 257.07 | 315.54 | ||
| 30 years | 1.547% | 63.09 | 86.95 | 134.66 | 182.38 | 230.09 | 277.80 | ||
| 20 years | 1.318% | 76.96 | 94.44 | 129.40 | 164.36 | 199.33 | 234.29 | ||
| 15 years | 1.050% | 85.50 | 99.31 | 126.93 | 154.56 | 182.18 | 209.80 | ||
| 10 years | 0.488% | 95.25 | 104.99 | 124.46 | 143.93 | 163.41 | 182.88 | ||
| 9 years | 0.479% | 95.79 | 104.58 | 122.16 | 139.73 | 157.31 | 174.88 | ||
| 8 years | 0.487% | 96.19 | 104.02 | 119.67 | 135.33 | 150.98 | 166.64 | ||
| 7 years | 0.386% | 97.34 | 104.23 | 118.02 | 131.81 | 145.59 | 159.38 | ||
| 6 years | 0.306% | 98.18 | 104.12 | 115.99 | 127.86 | 139.74 | 151.61 | ||
| 5 years | 0.183% | 99.09 | 104.06 | 114.01 | 123.95 | 133.90 | 143.84 | ||
| 4 years | 0.101% | 99.60 | 103.59 | 111.57 | 119.55 | 127.53 | 135.51 | ||
| 3 years | 0.006% | 99.98 | 102.98 | 108.98 | 114.98 | 120.98 | 126.98 | ||
| 2 years | -0.032% | 100.06 | 102.06 | 106.07 | 110.07 | 114.07 | 118.07 | ||
| 1 year | -0.081% | 100.08 | 101.08 | 103.08 | 105.09 | 107.09 | 109.09 | ||
| Maturity Date | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |||