COUNTRY •
NEW ZEALAND
Last Update: 27 Nov 2022 9:15 GMT+0
The New Zealand 10Y Government Bond has a 4.143% yield.
10 Years vs 2 Years bond spread is -53.7 bp. Yield Curve is inverted in Long-Term vs Short-Term Maturities.
Central Bank Rate is 4.25% (last modification in November 2022).
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 | 4.350% | +57.0 bp | +229.0 bp | 27 Nov | |||||
| 2 months | 4.390% | +44.0 bp | +214.0 bp | 27 Nov | |||||
| 3 months | 4.430% | +31.0 bp | +198.0 bp | 27 Nov | |||||
| 4 months | 4.600% | +32.0 bp | +199.0 bp | 27 Nov | |||||
| 5 months | 4.790% | +34.0 bp | +203.0 bp | 27 Nov | |||||
| 6 months | 4.970% | +34.0 bp | +205.0 bp | 27 Nov | |||||
| 1 year | 4.765% | +48.5 bp | +185.5 bp | 95.45 | -0.47 % | -1.77 % | 27 Nov | ||
| 2 years | 4.680% | +37.0 bp | +134.0 bp | 91.26 | -0.71 % | -2.54 % | 27 Nov | ||
| 5 years | 4.330% | +5.0 bp | +90.7 bp | 80.90 | -0.25 % | -4.27 % | 27 Nov | ||
| 7 years | 4.255% | +1.0 bp | +80.5 bp | 74.70 | -0.07 % | -5.29 % | 27 Nov | ||
| 10 years | 4.143% | -9.5 bp | +63.3 bp | 66.63 | +0.91 % | -5.92 % | 27 Nov | ||
| 15 years | 4.293% | +2.3 bp | +67.8 bp | 53.23 | -0.34 % | -9.32 % | 27 Nov | ||
| 20 years | 4.400% | -18.5 bp | +55.2 bp | 42.27 | +3.60 % | -10.04 % | 27 Nov | ||
Last Update: 27 Nov 2022 9:15 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 (4.25%) |
||||
|---|---|---|---|---|---|---|---|
| 3 months | 1 year | 2 years | 5 years | ||||
| 10 years | 4.143% | -10.7 bp | |||||
| 5 years | 4.330% | 8.0 bp | |||||
| 2 years | 4.680% | 43.0 bp | |||||
| 1 year | 4.765% | 51.5 bp | |||||
| 3 months | 4.430% | 18.0 bp | |||||
Focusing on 2 years Government Bond:
If data are not all visible, swipe table left
| 2Y vs 1Y | -8.5 bp | Yield Curve is inverted in Short-Term Maturities | ||
| 5Y vs 2Y | -35 bp | Yield Curve is inverted in Mid-Term vs Short-Term Maturities | ||
| 10Y vs 2Y | -53.7 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 | 4.25% |
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.
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 | 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 4.143% 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 | 388.8 bp | -10.5 bp | +60.1 bp | Compare | |
| Germany 10Y | 217.3 bp | -10.2 bp | -36.1 bp | Compare | |
| France 10Y | 170.9 bp | -5.7 bp | -30.7 bp | Compare | |
| China 10Y | 130.2 bp | -23.5 bp | +54.2 bp | Compare | |
| Canada 10Y | 120.5 bp | +16.6 bp | +48.5 bp | Compare | |
| Spain 10Y | 118.8 bp | -4.2 bp | -23.4 bp | Compare | |
| United Kingdom 10Y | 103.2 bp | +24.3 bp | -55.4 bp | Compare | |
| Australia 10Y | 55.1 bp | +8.3 bp | +29.0 bp | Compare | |
| United States 10Y | 45.2 bp | +14.3 bp | -31.5 bp | Compare | |
| Italy 10Y | 29.4 bp | +3.4 bp | -32.0 bp | Compare | |
| India 10Y | -315.8 bp | +1.6 bp | +68.2 bp | Compare | |
| Russia 10Y | -592.7 bp | -33.5 bp | +7.3 bp | Compare | |
| Brazil 10Y | -951.3 bp | -162.8 bp | -59.0 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 | 4.400% | 42.27 | 55.39 | 81.63 | 107.87 | 134.12 | 160.36 | ||
| 15 years | 4.293% | 53.23 | 64.13 | 85.91 | 107.70 | 129.49 | 151.28 | ||
| 10 years | 4.143% | 66.63 | 74.69 | 90.79 | 106.90 | 123.01 | 139.12 | ||
| 7 years | 4.255% | 74.70 | 80.65 | 92.54 | 104.43 | 116.32 | 128.21 | ||
| 5 years | 4.330% | 80.90 | 85.31 | 94.13 | 102.96 | 111.78 | 120.60 | ||
| 2 years | 4.680% | 91.26 | 93.13 | 96.86 | 100.60 | 104.33 | 108.07 | ||
| 1 year | 4.765% | 95.45 | 96.41 | 98.32 | 100.22 | 102.13 | 104.04 | ||
| Maturity Date | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |||