COUNTRY •
JAPAN
Last Update: 4 Jun 2023 2:15 GMT+0
The Japan 10Y Government Bond has a 0.410% yield.
10 Years vs 2 Years bond spread is 48.4 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 18.51 and implied probability of default is 0.31%.
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 | -0.172% | +1.0 bp | 0.0 bp | 02 Jun | |||||
| 3 months | -0.182% | +0.5 bp | -1.7 bp | 02 Jun | |||||
| 6 months | -0.176% | -0.4 bp | -6.7 bp | 02 Jun | |||||
| 9 months | -0.172% | -2.5 bp | -4.9 bp | 02 Jun | |||||
| 1 year | -0.141% | -2.8 bp | -5.7 bp | 100.14 | +0.03 % | +0.06 % | 02 Jun | ||
| 2 years | -0.074% | -3.4 bp | -8.8 bp | 100.15 | +0.07 % | +0.18 % | 02 Jun | ||
| 3 years | -0.069% | -4.2 bp | -5.6 bp | 100.21 | +0.13 % | +0.17 % | 02 Jun | ||
| 4 years | -0.009% | -4.1 bp | -5.0 bp | 100.04 | +0.17 % | +0.20 % | 02 Jun | ||
| 5 years | 0.069% | -4.7 bp | -3.6 bp | 99.66 | +0.24 % | +0.18 % | 02 Jun | ||
| 6 years | 0.132% | -3.5 bp | -0.5 bp | 99.21 | +0.21 % | +0.03 % | 02 Jun | ||
| 7 years | 0.201% | -4.6 bp | +0.9 bp | 98.60 | +0.32 % | -0.07 % | 02 Jun | ||
| 8 years | 0.295% | -0.6 bp | +3.2 bp | 97.67 | +0.05 % | -0.26 % | 02 Jun | ||
| 9 years | 0.350% | +0.4 bp | +8.3 bp | 96.90 | -0.04 % | -0.75 % | 02 Jun | ||
| 10 years | 0.410% | -0.5 bp | +15.9 bp | 95.99 | +0.05 % | -1.57 % | 02 Jun | ||
| 15 years | 0.774% | -1.5 bp | -4.1 bp | 89.08 | +0.23 % | +0.61 % | 02 Jun | ||
| 20 years | 1.026% | -0.9 bp | -7.2 bp | 81.53 | +0.17 % | +1.43 % | 02 Jun | ||
| 30 years | 1.286% | 0.0 bp | -20.7 bp | 68.16 | 0.00 % | +6.32 % | 02 Jun | ||
| 40 years | 1.428% | +4.4 bp | -32.7 bp | 56.71 | -1.73 % | +13.74 % | 02 Jun | ||
Last Update: 4 Jun 2023 2:15 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 | 1.286% | 138.6 bp | ||||||
| 10 years | 0.410% | 51.0 bp | ||||||
| 5 years | 0.069% | 16.9 bp | ||||||
| 2 years | -0.074% | 2.6 bp | ||||||
| 1 year | -0.141% | -4.1 bp | ||||||
| 3 months | -0.182% | -8.2 bp | ||||||
Focusing on 2 years Government Bond:
If data are not all visible, swipe table left
| 2Y vs 1Y | 6.7 bp | Yield Curve is flat in Short-Term Maturities | ||
| 5Y vs 2Y | 14.3 bp | Yield Curve is flat in Mid-Term vs Short-Term Maturities | ||
| 10Y vs 2Y | 48.4 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.
If data are not all visible, swipe table left
| Credit Default Swap | CDS Value | Var % 1W | Var % 1M | Var % 1Y | Implied PD(*) | |
|---|---|---|---|---|---|---|
| 5 Years CDS | 18.51 | -9.71 % | -19.45 % | -6.04 % | 0.31 % |
(*) 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 0.410% 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 | -191.8 bp | -14.8 bp | -34.6 bp | Compare | |
| China 10Y | -232.4 bp | +3.8 bp | +32.8 bp | Compare | |
| France 10Y | -245.7 bp | -7.2 bp | -40.8 bp | Compare | |
| Canada 10Y | -284.3 bp | -44.5 bp | -31.5 bp | Compare | |
| Spain 10Y | -290.9 bp | -0.8 bp | -28.9 bp | Compare | |
| United States 10Y | -328.8 bp | -33.9 bp | -5.1 bp | Compare | |
| Australia 10Y | -332.7 bp | -42.9 bp | -23.5 bp | Compare | |
| Italy 10Y | -357.0 bp | +18.4 bp | -5.5 bp | Compare | |
| United Kingdom 10Y | -374.3 bp | -50.3 bp | -85.2 bp | Compare | |
| India 10Y | -657.4 bp | +2.5 bp | +39.6 bp | Compare | |
| Russia 10Y | -1036.0 bp | -16.0 bp | -49.1 bp | Compare | |
| Brazil 10Y | -1096.7 bp | +66.3 bp | +155.8 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 | 1.428% | 56.71 | 87.03 | 147.65 | 208.28 | 268.90 | 329.53 | ||
| 30 years | 1.286% | 68.16 | 92.92 | 142.44 | 191.96 | 241.48 | 291.00 | ||
| 20 years | 1.026% | 81.53 | 99.53 | 135.53 | 171.53 | 207.52 | 243.52 | ||
| 15 years | 0.774% | 89.08 | 103.19 | 131.41 | 159.63 | 187.85 | 216.07 | ||
| 10 years | 0.410% | 95.99 | 105.77 | 125.33 | 144.88 | 164.44 | 183.99 | ||
| 9 years | 0.350% | 96.90 | 105.75 | 123.44 | 141.13 | 158.82 | 176.50 | ||
| 8 years | 0.295% | 97.67 | 105.57 | 121.36 | 137.15 | 152.93 | 168.72 | ||
| 7 years | 0.201% | 98.60 | 105.55 | 119.44 | 133.32 | 147.21 | 161.10 | ||
| 6 years | 0.132% | 99.21 | 105.18 | 117.13 | 129.07 | 141.02 | 152.96 | ||
| 5 years | 0.069% | 99.66 | 104.65 | 114.62 | 124.60 | 134.58 | 144.56 | ||
| 4 years | -0.009% | 100.04 | 104.04 | 112.04 | 120.04 | 128.04 | 136.04 | ||
| 3 years | -0.069% | 100.21 | 103.21 | 109.22 | 115.23 | 121.24 | 127.24 | ||
| 2 years | -0.074% | 100.15 | 102.15 | 106.15 | 110.16 | 114.16 | 118.17 | ||
| 1 year | -0.141% | 100.14 | 101.14 | 103.15 | 105.15 | 107.15 | 109.15 | ||
| Maturity Date | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |||