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).
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 | 1.294% | 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:
If data are not all visible, swipe table left
| 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 |
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 | 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.
If data are not all visible, swipe table left
| 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 | |||