COUNTRY •
PORTUGAL
Last Update: 7 Jun 2023 2:23 GMT+0
The Portugal 10Y Government Bond has a 3.078% yield.
10 Years vs 2 Years bond spread is 31.7 bp. Normal Convexity in Long-Term vs Short-Term Maturities.
Central Bank Rate is 3.75% (last modification in May 2023).
The Portugal credit rating is BBB+, according to Standard & Poor's agency.
Current 5-Years Credit Default Swap quotation is 48.08 and implied probability of default is 0.80%.
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| Residual Maturity |
Yield | ZC Price | Last Change |
||||||
|---|---|---|---|---|---|---|---|---|---|
| Last | Chg 1M | Chg 6M | Last | Chg 1M | Chg 6M | ||||
| 3 months | 2.960% | +17.7 bp | +211.8 bp | 07 Jun | |||||
| 6 months | 2.924% | -17.8 bp | +158.1 bp | 07 Jun | |||||
| 1 year | 2.454% | -20.8 bp | +34.0 bp | 97.60 | +0.20 % | -0.34 % | 07 Jun | ||
| 2 years | 2.761% | -6.2 bp | +56.2 bp | 94.70 | +0.13 % | -1.09 % | 07 Jun | ||
| 3 years | 2.727% | +4.4 bp | +74.5 bp | 92.25 | -0.12 % | -2.15 % | 07 Jun | ||
| 4 years | 2.735% | +5.8 bp | +72.1 bp | 89.77 | -0.22 % | -2.77 % | 07 Jun | ||
| 5 years | 2.689% | -1.6 bp | +62.1 bp | 87.58 | +0.08 % | -2.98 % | 07 Jun | ||
| 6 years | 2.797% | +1.5 bp | +63.0 bp | 84.75 | -0.08 % | -3.62 % | 07 Jun | ||
| 7 years | 2.775% | -5.8 bp | +52.5 bp | 82.56 | +0.39 % | -3.53 % | 07 Jun | ||
| 8 years | 2.875% | -6.2 bp | +44.5 bp | 79.71 | +0.48 % | -3.41 % | 07 Jun | ||
| 9 years | 2.955% | -7.8 bp | +43.8 bp | 76.94 | +0.68 % | -3.76 % | 07 Jun | ||
| 10 years | 3.078% | -7.9 bp | +41.7 bp | 73.85 | +0.78 % | -3.97 % | 07 Jun | ||
| 15 years | 3.531% | +1.0 bp | +63.0 bp | 59.42 | -0.15 % | -8.75 % | 07 Jun | ||
| 20 years | 3.560% | -6.4 bp | +62.0 bp | 49.68 | +1.24 % | -11.32 % | 07 Jun | ||
| 30 years | 3.592% | -11.0 bp | +52.9 bp | 34.69 | +3.24 % | -14.24 % | 07 Jun | ||
Last Update: 7 Jun 2023 2:23 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 (3.75%) |
|||||
|---|---|---|---|---|---|---|---|---|
| 3 months | 1 year | 2 years | 5 years | 10 years | ||||
| 30 years | 3.592% | -15.8 bp | ||||||
| 10 years | 3.078% | -67.2 bp | ||||||
| 5 years | 2.689% | -106.1 bp | ||||||
| 2 years | 2.761% | -98.9 bp | ||||||
| 1 year | 2.454% | -129.6 bp | ||||||
| 3 months | 2.960% | -79.0 bp | ||||||
Focusing on 2 years Government Bond:
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| 2Y vs 1Y | 30.7 bp | Normal Convexity in Short-Term Maturities | ||
| 5Y vs 2Y | -7.2 bp | Yield Curve is inverted in Mid-Term vs Short-Term Maturities | ||
| 10Y vs 2Y | 31.7 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
|
positive |
| 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 | 3.75% |
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 | 48.08 | -4.61 % | -9.10 % | -7.88 % | 0.80 % |
(*) 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 3.078% 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 | 266.0 bp | -8.2 bp | +24.6 bp | Compare | |
| Germany 10Y | 70.9 bp | -15.9 bp | -19.1 bp | Compare | |
| China 10Y | 36.1 bp | -5.0 bp | +60.2 bp | Compare | |
| France 10Y | 17.4 bp | -11.7 bp | -25.4 bp | Compare | |
| Canada 10Y | -22.1 bp | -44.4 bp | -11.2 bp | Compare | |
| Spain 10Y | -27.3 bp | -7.1 bp | -17.9 bp | Compare | |
| United States 10Y | -58.8 bp | -31.0 bp | +16.6 bp | Compare | |
| Australia 10Y | -75.7 bp | -50.0 bp | -12.4 bp | Compare | |
| Italy 10Y | -107.5 bp | -3.8 bp | -13.1 bp | Compare | |
| United Kingdom 10Y | -111.5 bp | -50.0 bp | -72.7 bp | Compare | |
| India 10Y | -389.9 bp | -4.2 bp | +70.9 bp | Compare | |
| Russia 10Y | -774.2 bp | -24.9 bp | -25.8 bp | Compare | |
| Brazil 10Y | -804.9 bp | +91.9 bp | +218.0 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 | 3.592% | 34.69 | 52.87 | 89.24 | 125.60 | 161.96 | 198.33 | ||
| 20 years | 3.560% | 49.68 | 63.81 | 92.08 | 120.36 | 148.63 | 176.90 | ||
| 15 years | 3.531% | 59.42 | 70.91 | 93.90 | 116.88 | 139.87 | 162.85 | ||
| 10 years | 3.078% | 73.85 | 82.34 | 99.34 | 116.33 | 133.32 | 150.32 | ||
| 9 years | 2.955% | 76.94 | 84.75 | 100.35 | 115.96 | 131.56 | 147.17 | ||
| 8 years | 2.875% | 79.71 | 86.77 | 100.88 | 115.00 | 129.11 | 143.22 | ||
| 7 years | 2.775% | 82.56 | 88.85 | 101.41 | 113.98 | 126.55 | 139.11 | ||
| 6 years | 2.797% | 84.75 | 90.20 | 101.11 | 112.01 | 122.92 | 133.83 | ||
| 5 years | 2.689% | 87.58 | 92.20 | 101.44 | 110.68 | 119.92 | 129.16 | ||
| 4 years | 2.735% | 89.77 | 93.51 | 100.99 | 108.47 | 115.95 | 123.44 | ||
| 3 years | 2.727% | 92.25 | 95.09 | 100.78 | 106.46 | 112.15 | 117.84 | ||
| 2 years | 2.761% | 94.70 | 96.62 | 100.46 | 104.30 | 108.14 | 111.98 | ||
| 1 year | 2.454% | 97.60 | 98.58 | 100.53 | 102.49 | 104.44 | 106.39 | ||
| Maturity Date | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |||