COUNTRY •
PORTUGAL
Last Update: 9 Feb 2023 3:23 GMT+0
The Portugal 10Y Government Bond has a 3.243% yield.
10 Years vs 2 Years bond spread is 50.7 bp. Normal Convexity in Long-Term vs Short-Term Maturities.
Central Bank Rate is 3.00% (last modification in February 2023).
The Portugal credit rating is BBB+, according to Standard & Poor's agency.
Current 5-Years Credit Default Swap quotation is 38.61 and implied probability of default is 0.64%.
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| Residual Maturity |
Yield | ZC Price | Last Change |
||||||
|---|---|---|---|---|---|---|---|---|---|
| Last | Chg 1M | Chg 6M | Last | Chg 1M | Chg 6M | ||||
| 3 months | 2.425% | +89.8 bp | n.a. | 09 Feb | |||||
| 6 months | 2.661% | +76.4 bp | +261.1 bp | 09 Feb | |||||
| 1 year | 2.967% | +288.7 bp | +291.7 bp | 97.12 | -2.80 % | -2.83 % | 09 Feb | ||
| 2 years | 2.736% | -5.9 bp | +211.4 bp | 94.74 | +0.11 % | -4.08 % | 09 Feb | ||
| 3 years | 2.847% | +24.4 bp | +197.0 bp | 91.92 | -0.71 % | -5.64 % | 09 Feb | ||
| 4 years | 2.803% | +16.1 bp | +172.4 bp | 89.53 | -0.62 % | -6.54 % | 09 Feb | ||
| 5 years | 2.849% | +15.0 bp | +164.7 bp | 86.90 | -0.72 % | -7.75 % | 09 Feb | ||
| 6 years | 2.904% | +18.7 bp | +156.4 bp | 84.22 | -1.08 % | -8.77 % | 09 Feb | ||
| 7 years | 2.955% | +12.9 bp | +149.9 bp | 81.56 | -0.88 % | -9.76 % | 09 Feb | ||
| 8 years | 3.075% | +5.2 bp | +139.9 bp | 78.48 | -0.41 % | -10.36 % | 09 Feb | ||
| 9 years | 3.160% | +4.5 bp | +132.9 bp | 75.58 | -0.40 % | -11.01 % | 09 Feb | ||
| 10 years | 3.243% | +5.0 bp | +126.6 bp | 72.68 | -0.48 % | -11.60 % | 09 Feb | ||
| 15 years | 3.581% | +6.3 bp | +137.0 bp | 58.99 | -0.91 % | -18.10 % | 09 Feb | ||
| 20 years | 3.597% | +1.9 bp | +116.9 bp | 49.32 | -0.38 % | -20.31 % | 09 Feb | ||
| 30 years | 3.667% | +1.1 bp | +105.9 bp | 33.95 | -0.29 % | -26.50 % | 09 Feb | ||
Last Update: 9 Feb 2023 3:23 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 (3.00%) |
|||||
|---|---|---|---|---|---|---|---|---|
| 3 months | 1 year | 2 years | 5 years | 10 years | ||||
| 30 years | 3.667% | 66.7 bp | ||||||
| 10 years | 3.243% | 24.3 bp | ||||||
| 5 years | 2.849% | -15.1 bp | ||||||
| 2 years | 2.736% | -26.4 bp | ||||||
| 1 year | 2.967% | -3.3 bp | ||||||
| 3 months | 2.425% | -57.5 bp | ||||||
Focusing on 2 years Government Bond:
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| 2Y vs 1Y | -23.1 bp | Yield Curve is inverted in Short-Term Maturities | ||
| 5Y vs 2Y | 11.3 bp | Yield Curve is flat in Mid-Term vs Short-Term Maturities | ||
| 10Y vs 2Y | 50.7 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+
|
- |
| 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 | 3.00% |
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 | 38.61 | 0.00 % | 0.00 % | -2.01 % | 0.64 % |
(*) 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 3.243% 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 | 275.5 bp | +6.0 bp | +94.6 bp | Compare | |
| Germany 10Y | 89.8 bp | -6.2 bp | -15.9 bp | Compare | |
| France 10Y | 43.7 bp | -2.0 bp | -6.3 bp | Compare | |
| China 10Y | 32.5 bp | +3.7 bp | +109.6 bp | Compare | |
| Canada 10Y | 20.7 bp | +11.9 bp | +94.1 bp | Compare | |
| United Kingdom 10Y | -6.9 bp | +27.0 bp | -5.5 bp | Compare | |
| Spain 10Y | -12.7 bp | -4.0 bp | -4.1 bp | Compare | |
| United States 10Y | -37.7 bp | -4.2 bp | +43.2 bp | Compare | |
| Australia 10Y | -42.4 bp | +8.4 bp | +82.5 bp | Compare | |
| Italy 10Y | -96.6 bp | +3.4 bp | +13.5 bp | Compare | |
| India 10Y | -410.1 bp | +4.8 bp | +127.0 bp | Compare | |
| Russia 10Y | -743.7 bp | -29.0 bp | -36.4 bp | Compare | |
| Brazil 10Y | -1006.3 bp | -25.4 bp | +9.9 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 | 3.667% | 33.95 | 51.96 | 87.99 | 124.01 | 160.04 | 196.06 | ||
| 20 years | 3.597% | 49.32 | 63.41 | 91.59 | 119.77 | 147.94 | 176.12 | ||
| 15 years | 3.581% | 58.99 | 70.44 | 93.35 | 116.25 | 139.15 | 162.05 | ||
| 10 years | 3.243% | 72.68 | 81.10 | 97.95 | 114.80 | 131.65 | 148.50 | ||
| 9 years | 3.160% | 75.58 | 83.31 | 98.76 | 114.22 | 129.68 | 145.13 | ||
| 8 years | 3.075% | 78.48 | 85.48 | 99.48 | 113.47 | 127.47 | 141.46 | ||
| 7 years | 2.955% | 81.56 | 87.80 | 100.28 | 112.76 | 125.24 | 137.73 | ||
| 6 years | 2.904% | 84.22 | 89.65 | 100.52 | 111.39 | 122.26 | 133.13 | ||
| 5 years | 2.849% | 86.90 | 91.50 | 100.69 | 109.89 | 119.09 | 128.29 | ||
| 4 years | 2.803% | 89.53 | 93.27 | 100.74 | 108.21 | 115.67 | 123.14 | ||
| 3 years | 2.847% | 91.92 | 94.76 | 100.43 | 106.11 | 111.78 | 117.46 | ||
| 2 years | 2.736% | 94.74 | 96.67 | 100.51 | 104.35 | 108.19 | 112.03 | ||
| 1 year | 2.967% | 97.12 | 98.09 | 100.03 | 101.97 | 103.92 | 105.86 | ||
| Maturity Date | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |||