COUNTRY •
PORTUGAL
Last Update: 3 Oct 2022 14:15 GMT+0
The Portugal 10Y Government Bond has a 2.998% yield.
10 Years vs 2 Years bond spread is 101.3 bp. Normal Convexity in Long-Term vs Short-Term Maturities.
Central Bank Rate is 1.25% (last modification in September 2022).
The Portugal credit rating is BBB+, according to Standard & Poor's agency.
Current 5-Years Credit Default Swap quotation is 52.10 and implied probability of default is 0.87%.
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| Residual Maturity |
Yield | ZC Price | Last Change |
||||||
|---|---|---|---|---|---|---|---|---|---|
| Last | Chg 1M | Chg 6M | Last | Chg 1M | Chg 6M | ||||
| 3 months | 0.332% | +27.0 bp | +107.7 bp | 03 Oct | |||||
| 6 months | 1.270% | +102.8 bp | +185.5 bp | 03 Oct | |||||
| 1 year | 1.901% | +165.1 bp | +233.6 bp | 98.13 | -1.62 % | -2.30 % | 03 Oct | ||
| 2 years | 1.985% | +90.8 bp | +204.3 bp | 96.15 | -1.77 % | -3.97 % | 03 Oct | ||
| 3 years | 2.014% | +60.2 bp | +192.6 bp | 94.19 | -1.76 % | -5.56 % | 03 Oct | ||
| 4 years | 2.154% | +47.4 bp | +167.7 bp | 91.83 | -1.84 % | -6.40 % | 03 Oct | ||
| 5 years | 2.392% | +53.0 bp | +175.4 bp | 88.85 | -2.57 % | -8.28 % | 03 Oct | ||
| 6 years | 2.513% | +55.0 bp | +165.6 bp | 86.16 | -3.18 % | -9.31 % | 03 Oct | ||
| 7 years | 2.575% | +52.6 bp | +161.5 bp | 83.70 | -3.53 % | -10.51 % | 03 Oct | ||
| 8 years | 2.767% | +47.5 bp | +165.8 bp | 80.38 | -3.64 % | -12.20 % | 03 Oct | ||
| 9 years | 2.862% | +43.2 bp | +162.3 bp | 77.57 | -3.72 % | -13.34 % | 03 Oct | ||
| 10 years | 2.998% | +42.1 bp | +160.8 bp | 74.42 | -4.02 % | -14.57 % | 03 Oct | ||
| 15 years | 3.243% | +41.6 bp | +160.0 bp | 61.96 | -5.88 % | -20.88 % | 03 Oct | ||
| 20 years | 3.317% | +28.1 bp | +140.9 bp | 52.07 | -5.29 % | -24.01 % | 03 Oct | ||
| 30 years | 3.477% | +28.3 bp | +143.3 bp | 35.87 | -7.88 % | -34.18 % | 03 Oct | ||
Last Update: 3 Oct 2022 14:15 GMT+0
Portugal 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).
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| Residual Maturity |
Yield | Spread vs Bond | Spread vs Central Bank Rate (1.25%) |
|||||
|---|---|---|---|---|---|---|---|---|
| 3 months | 1 year | 2 years | 5 years | 10 years | ||||
| 30 years | 3.477% | 222.7 bp | ||||||
| 10 years | 2.998% | 174.8 bp | ||||||
| 5 years | 2.392% | 114.2 bp | ||||||
| 2 years | 1.985% | 73.5 bp | ||||||
| 1 year | 1.901% | 65.1 bp | ||||||
| 3 months | 0.332% | -91.8 bp | ||||||
Focusing on 2 years Government Bond:
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| 2Y vs 1Y | 8.4 bp | Normal Convexity in Short-Term Maturities | ||
| 5Y vs 2Y | 40.7 bp | Normal Convexity in Mid-Term vs Short-Term Maturities | ||
| 10Y vs 2Y | 101.3 bp | Normal Convexity in Long-Term vs Short-Term Maturities |
Readings that may interest you
Portugal 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
Portugal Credit Ratings History
| Rating Agency | Rating | Outlook |
|---|---|---|
| Standard & Poor's |
BBB+
|
- |
| Moody's Investors Service |
Baa2
|
- |
| Fitch Ratings |
BBB
|
positive |
| DBRS |
A (low)
|
- |
Portugal 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 | 1.25% |
Portugal 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 | 52.10 | 0.00 % | +1.76 % | +92.25 % | 0.87 % |
(*) Implied probability of default, calculated on the hypothesis of a 40% recovery rate.
Portugal 10Y Bond Yield Spread
The Portugal 10Y Government Bond has a 2.998% 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.
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| Portugal 10Y vs | Current Spread | Chg 1M | Chg 6M | ||
|---|---|---|---|---|---|
| Japan 10Y | 274.8 bp | +40.8 bp | +157.6 bp | Compare | |
| Germany 10Y | 105.5 bp | -1.4 bp | +22.3 bp | Compare | |
| France 10Y | 45.2 bp | +1.0 bp | +9.0 bp | Compare | |
| China 10Y | 21.6 bp | +27.5 bp | +164.8 bp | Compare | |
| Spain 10Y | -11.5 bp | -1.7 bp | -1.7 bp | Compare | |
| Canada 10Y | -11.6 bp | +40.2 bp | +94.5 bp | Compare | |
| United States 10Y | -63.9 bp | -2.3 bp | +36.0 bp | Compare | |
| Australia 10Y | -88.9 bp | +17.4 bp | +55.5 bp | Compare | |
| United Kingdom 10Y | -102.8 bp | -70.4 bp | -79.6 bp | Compare | |
| Italy 10Y | -129.2 bp | -6.8 bp | -58.5 bp | Compare | |
| India 10Y | -447.0 bp | +18.5 bp | +98.3 bp | Compare | |
| Russia 10Y | -700.2 bp | -22.9 bp | +286.8 bp | Compare | |
| Brazil 10Y | -896.5 bp | +48.2 bp | +61.7 bp | Compare |
Portugal 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.
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| Residual Maturity |
Yield | Bond Price - with different Coupon Rates | Fx | ||||||
|---|---|---|---|---|---|---|---|---|---|
| 0% | 1% | 3% | 5% | 7% | 9% | ||||
| 30 years | 3.477% | 35.87 | 54.31 | 91.20 | 128.09 | 164.98 | 201.87 | ||
| 20 years | 3.317% | 52.07 | 66.52 | 95.42 | 124.32 | 153.22 | 182.12 | ||
| 15 years | 3.243% | 61.96 | 73.69 | 97.15 | 120.61 | 144.07 | 167.53 | ||
| 10 years | 2.998% | 74.42 | 82.95 | 100.02 | 117.08 | 134.14 | 151.20 | ||
| 9 years | 2.862% | 77.57 | 85.41 | 101.08 | 116.75 | 132.43 | 148.10 | ||
| 8 years | 2.767% | 80.38 | 87.47 | 101.65 | 115.83 | 130.01 | 144.19 | ||
| 7 years | 2.575% | 83.70 | 90.03 | 102.69 | 115.35 | 128.02 | 140.68 | ||
| 6 years | 2.513% | 86.16 | 91.67 | 102.68 | 113.69 | 124.70 | 135.72 | ||
| 5 years | 2.392% | 88.85 | 93.51 | 102.83 | 112.15 | 121.47 | 130.80 | ||
| 4 years | 2.154% | 91.83 | 95.62 | 103.21 | 110.80 | 118.38 | 125.97 | ||
| 3 years | 2.014% | 94.19 | 97.08 | 102.84 | 108.61 | 114.38 | 120.14 | ||
| 2 years | 1.985% | 96.15 | 98.09 | 101.97 | 105.86 | 109.74 | 113.62 | ||
| 1 year | 1.901% | 98.13 | 99.12 | 101.08 | 103.04 | 105.00 | 106.97 | ||
| Maturity Date | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |||