COUNTRY •
NEW ZEALAND
Last Update: 1 Apr 2023 2:15 GMT+0
The New Zealand 10Y Government Bond has a 4.245% yield.
10 Years vs 2 Years bond spread is -43.4 bp. Yield Curve is inverted in Long-Term vs Short-Term Maturities.
Central Bank Rate is 4.75% (last modification in February 2023).
The New Zealand credit rating is AA+, according to Standard & Poor's agency.
Current 5-Years Credit Default Swap quotation is 21.40 and implied probability of default is 0.36%.
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 | 5.090% | +18.0 bp | +158.0 bp | 30 Mar | |||||
| 2 months | 5.180% | +13.0 bp | +149.0 bp | 31 Mar | |||||
| 3 months | 5.260% | +7.0 bp | +138.0 bp | 30 Mar | |||||
| 4 months | 5.310% | +4.0 bp | +132.0 bp | 31 Mar | |||||
| 5 months | 5.350% | -1.0 bp | +125.0 bp | 30 Mar | |||||
| 6 months | 5.400% | -2.0 bp | +120.0 bp | 30 Mar | |||||
| 1 year | 4.970% | -25.0 bp | +91.0 bp | 95.27 | +0.24 % | -0.86 % | 30 Mar | ||
| 2 years | 4.679% | -31.8 bp | +45.9 bp | 91.26 | +0.61 % | -0.88 % | 31 Mar | ||
| 5 years | 4.301% | -32.6 bp | +3.8 bp | 81.01 | +1.57 % | -0.18 % | 31 Mar | ||
| 7 years | 4.287% | -34.1 bp | +4.4 bp | 74.54 | +2.31 % | -0.29 % | 31 Mar | ||
| 10 years | 4.245% | -38.5 bp | -4.9 bp | 65.99 | +3.76 % | +0.47 % | 31 Mar | ||
| 15 years | 4.361% | -41.0 bp | -2.4 bp | 52.71 | +6.06 % | +0.34 % | 31 Mar | ||
| 20 years | 4.444% | -39.1 bp | -26.4 bp | 41.91 | +7.77 % | +5.17 % | 31 Mar | ||
Last Update: 1 Apr 2023 2:15 GMT+0
New Zealand 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 (4.75%) |
||||
|---|---|---|---|---|---|---|---|
| 3 months | 1 year | 2 years | 5 years | ||||
| 10 years | 4.245% | -50.5 bp | |||||
| 5 years | 4.301% | -44.9 bp | |||||
| 2 years | 4.679% | -7.1 bp | |||||
| 1 year | 4.970% | 22.0 bp | |||||
| 3 months | 5.260% | 51.0 bp | |||||
Focusing on 2 years Government Bond:
If data are not all visible, swipe table left
| 2Y vs 1Y | -29.1 bp | Yield Curve is inverted in Short-Term Maturities | ||
| 5Y vs 2Y | -37.8 bp | Yield Curve is inverted in Mid-Term vs Short-Term Maturities | ||
| 10Y vs 2Y | -43.4 bp | Yield Curve is inverted in Long-Term vs Short-Term Maturities |
Readings that may interest you
New Zealand 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
New Zealand Credit Ratings History
| Rating Agency | Rating | Outlook |
|---|---|---|
| Standard & Poor's |
AA+
|
- |
| Moody's Investors Service |
Aaa
|
- |
| Fitch Ratings |
AA+
|
- |
| DBRS |
-
|
- |
New Zealand 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 | 4.75% |
New Zealand 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 | 21.40 | 0.00 % | 0.00 % | +36.31 % | 0.36 % |
(*) Implied probability of default, calculated on the hypothesis of a 40% recovery rate.
New Zealand 10Y Bond Yield Spread
The New Zealand 10Y Government Bond has a 4.245% 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
| New Zealand 10Y vs | Current Spread | Chg 1M | Chg 6M | ||
|---|---|---|---|---|---|
| Japan 10Y | 391.6 bp | -21.3 bp | -13.5 bp | Compare | |
| Germany 10Y | 196.2 bp | +5.8 bp | -21.4 bp | Compare | |
| France 10Y | 146.1 bp | +3.5 bp | -10.0 bp | Compare | |
| China 10Y | 137.1 bp | -32.7 bp | -14.1 bp | Compare | |
| Canada 10Y | 132.8 bp | +13.6 bp | +20.4 bp | Compare | |
| Australia 10Y | 100.5 bp | +20.7 bp | +61.8 bp | Compare | |
| Spain 10Y | 95.0 bp | +7.6 bp | -3.7 bp | Compare | |
| United Kingdom 10Y | 78.0 bp | -2.5 bp | +56.9 bp | Compare | |
| United States 10Y | 77.2 bp | +13.8 bp | +31.5 bp | Compare | |
| Italy 10Y | 16.8 bp | +12.1 bp | +38.1 bp | Compare | |
| India 10Y | -307.0 bp | -26.6 bp | +3.4 bp | Compare | |
| Russia 10Y | -605.5 bp | +31.0 bp | -10.9 bp | Compare | |
| Brazil 10Y | -865.5 bp | +5.6 bp | -98.6 bp | Compare |
New Zealand 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% | ||||
| 20 years | 4.444% | 41.91 | 54.98 | 81.13 | 107.27 | 133.41 | 159.55 | ||
| 15 years | 4.361% | 52.71 | 63.56 | 85.24 | 106.93 | 128.61 | 150.30 | ||
| 10 years | 4.245% | 65.99 | 74.00 | 90.02 | 106.05 | 122.08 | 138.10 | ||
| 7 years | 4.287% | 74.54 | 80.48 | 92.36 | 104.23 | 116.11 | 127.99 | ||
| 5 years | 4.301% | 81.01 | 85.43 | 94.26 | 103.09 | 111.91 | 120.74 | ||
| 2 years | 4.679% | 91.26 | 93.13 | 96.86 | 100.60 | 104.34 | 108.07 | ||
| 1 year | 4.970% | 95.27 | 96.22 | 98.12 | 100.03 | 101.93 | 103.84 | ||
| Maturity Date | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |||