COUNTRY •
PORTUGAL
Last Update: 1 Oct 2023 2:15 GMT+0
The Portugal 10Y Government Bond has a 3.579% yield.
10 Years vs 2 Years bond spread is 34.5 bp. Normal Convexity in Long-Term vs Short-Term Maturities.
Central Bank Rate is 4.50% (last modification in September 2023).
The Portugal credit rating is BBB+, according to Standard & Poor's agency.
Current 5-Years Credit Default Swap quotation is 49.77 and implied probability of default is 0.83%.
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 | ||||
| 3 months | -0.124% | -360.3 bp | -296.6 bp | 30 Sep | |||||
| 6 months | 3.263% | -36.3 bp | +33.5 bp | 29 Sep | |||||
| 1 year | 3.517% | +351.6 bp | +68.9 bp | 96.60 | -3.40 % | -0.67 % | 29 Sep | ||
| 2 years | 3.234% | +27.1 bp | +40.5 bp | 93.83 | -0.53 % | -0.78 % | 29 Sep | ||
| 3 years | 3.112% | +17.5 bp | +41.6 bp | 91.22 | -0.50 % | -1.20 % | 29 Sep | ||
| 4 years | 3.131% | +25.6 bp | +39.0 bp | 88.40 | -0.99 % | -1.50 % | 29 Sep | ||
| 5 years | 3.211% | +26.8 bp | +49.3 bp | 85.38 | -1.29 % | -2.37 % | 29 Sep | ||
| 6 years | 3.286% | +27.0 bp | +50.9 bp | 82.37 | -1.55 % | -2.91 % | 29 Sep | ||
| 7 years | 3.329% | +26.3 bp | +43.6 bp | 79.51 | -1.78 % | -2.92 % | 29 Sep | ||
| 8 years | 3.382% | +21.8 bp | +43.0 bp | 76.64 | -1.67 % | -3.28 % | 29 Sep | ||
| 9 years | 3.503% | +26.9 bp | +47.6 bp | 73.35 | -2.32 % | -4.07 % | 29 Sep | ||
| 10 years | 3.579% | +28.6 bp | +43.5 bp | 70.35 | -2.74 % | -4.13 % | 29 Sep | ||
| 15 years | 4.003% | +34.3 bp | +56.1 bp | 55.50 | -4.84 % | -7.79 % | 29 Sep | ||
| 20 years | 4.081% | +40.8 bp | +47.6 bp | 44.93 | -7.57 % | -8.77 % | 29 Sep | ||
| 30 years | 4.153% | +37.3 bp | +54.1 bp | 29.50 | -10.20 % | -14.47 % | 29 Sep | ||
Last Update: 1 Oct 2023 2:15 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 (4.50%) |
|||||
|---|---|---|---|---|---|---|---|---|
| 3 months | 1 year | 2 years | 5 years | 10 years | ||||
| 30 years | 4.153% | -34.7 bp | ||||||
| 10 years | 3.579% | -92.1 bp | ||||||
| 5 years | 3.211% | -128.9 bp | ||||||
| 2 years | 3.234% | -126.6 bp | ||||||
| 1 year | 3.517% | -98.3 bp | ||||||
| 3 months | -0.124% | -462.4 bp | ||||||
Focusing on 2 years Government Bond:
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| 2Y vs 1Y | -28.3 bp | Yield Curve is inverted in Short-Term Maturities | ||
| 5Y vs 2Y | -2.3 bp | Yield Curve is inverted in Mid-Term vs Short-Term Maturities | ||
| 10Y vs 2Y | 34.5 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+
|
positive |
| Moody's Investors Service |
Baa2
|
positive |
| Fitch Ratings |
BBB+
|
- |
| DBRS |
A
|
- |
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 | 4.50% |
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 | 49.77 | +8.00 % | +8.22 % | -4.48 % | 0.83 % |
(*) 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 3.579% 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 | 283.0 bp | +15.8 bp | +1.5 bp | Compare | |
| China 10Y | 87.3 bp | +20.3 bp | +60.3 bp | Compare | |
| Germany 10Y | 72.5 bp | -2.8 bp | -13.6 bp | Compare | |
| France 10Y | 16.3 bp | -5.4 bp | -19.7 bp | Compare | |
| Spain 10Y | -37.4 bp | -10.3 bp | -22.3 bp | Compare | |
| Canada 10Y | -49.0 bp | -19.0 bp | -71.7 bp | Compare | |
| United Kingdom 10Y | -87.9 bp | +23.0 bp | -55.8 bp | Compare | |
| Australia 10Y | -89.5 bp | -13.8 bp | -80.2 bp | Compare | |
| United States 10Y | -100.0 bp | -11.2 bp | -67.1 bp | Compare | |
| Italy 10Y | -123.6 bp | -29.8 bp | -30.3 bp | Compare | |
| India 10Y | -363.1 bp | +25.1 bp | +54.0 bp | Compare | |
| Brazil 10Y | -813.2 bp | -27.3 bp | +162.4 bp | Compare | |
| Russia 10Y | -933.1 bp | -54.4 bp | -217.5 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 | 4.153% | 29.50 | 46.48 | 80.43 | 114.38 | 148.33 | 182.28 | ||
| 20 years | 4.081% | 44.93 | 58.43 | 85.41 | 112.40 | 139.39 | 166.37 | ||
| 15 years | 4.003% | 55.50 | 66.62 | 88.85 | 111.08 | 133.31 | 155.55 | ||
| 10 years | 3.579% | 70.35 | 78.64 | 95.20 | 111.77 | 128.34 | 144.91 | ||
| 9 years | 3.503% | 73.35 | 80.96 | 96.17 | 111.39 | 126.60 | 141.81 | ||
| 8 years | 3.382% | 76.64 | 83.55 | 97.36 | 111.18 | 124.99 | 138.81 | ||
| 7 years | 3.329% | 79.51 | 85.67 | 97.98 | 110.28 | 122.59 | 134.90 | ||
| 6 years | 3.286% | 82.37 | 87.73 | 98.47 | 109.20 | 119.93 | 130.66 | ||
| 5 years | 3.211% | 85.38 | 89.93 | 99.04 | 108.14 | 117.25 | 126.35 | ||
| 4 years | 3.131% | 88.40 | 92.10 | 99.51 | 106.93 | 114.34 | 121.75 | ||
| 3 years | 3.112% | 91.22 | 94.04 | 99.68 | 105.33 | 110.97 | 116.62 | ||
| 2 years | 3.234% | 93.83 | 95.74 | 99.55 | 103.37 | 107.18 | 111.00 | ||
| 1 year | 3.517% | 96.60 | 97.57 | 99.50 | 101.43 | 103.36 | 105.30 | ||
| Maturity Date | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |||