COUNTRY • SOUTH AFRICA
Last Update: 28 Mar 2023 2:15 GMT+0

The South Africa 10Y Government Bond has a 9.925% yield.

Central Bank Rate is 7.25% (last modification in January 2023).

The South Africa credit rating is BB-, according to Standard & Poor's agency.

Current 5-Years Credit Default Swap quotation is 313.76 and implied probability of default is 5.23%.

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Residual
Maturity
Yield ZC Price Last
Change
Last Chg 1M Chg 6M Last Chg 1M Chg 6M
3 months 8.050% +5.0 bp +125.0 bp 27 Mar
5 years 8.335% -23.5 bp -108.0 bp 67.01 +1.09 % +5.08 % 27 Mar
10 years 9.925% -18.5 bp -88.5 bp 38.82 +1.70 % +8.34 % 27 Mar
12 years 10.605% -9.0 bp -68.5 bp 29.83 +0.98 % +7.69 % 27 Mar
20 years 11.735% +21.5 bp -10.0 bp 10.87 -3.81 % +1.78 % 27 Mar
25 years 11.845% +27.0 bp +2.0 bp 6.09 -5.87 % -0.49 % 27 Mar
30 years 11.730% +27.5 bp -2.0 bp 3.59 -6.99 % +0.56 % 27 Mar
Last Update: 28 Mar 2023 2:15 GMT+0

South Africa 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).
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Residual
Maturity
Yield Spread vs Bond Spread vs
Central Bank
Rate (7.25%)
3 months 5 years 10 years
30 years 11.730% 448.0 bp
10 years 9.925%
267.5 bp
5 years 8.335%
108.5 bp
3 months 8.050%
80.0 bp

South Africa 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 South Africa Credit Ratings History
Rating Agency Rating Outlook
Standard & Poor's
BB-
-
Moody's Investors Service
Ba2
-
Fitch Ratings
BB-
-
DBRS
-
-

South Africa 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 7.25%

South Africa 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 313.76 +2.33 % +10.04 % +64.72 % 5.23 %
(*) Implied probability of default, calculated on the hypothesis of a 40% recovery rate.

South Africa 10Y Bond Yield Spread

The South Africa 10Y Government Bond has a 9.925% 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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South Africa 10Y vs Current Spread Chg 1M Chg 6M
Japan 10Y 959.6 bp -1.7 bp -96.6 bp Compare
Germany 10Y 769.9 bp +22.4 bp -99.2 bp Compare
France 10Y 715.6 bp +14.3 bp -92.7 bp Compare
China 10Y 705.0 bp -13.2 bp -101.4 bp Compare
Canada 10Y 701.4 bp +27.2 bp -70.9 bp Compare
Australia 10Y 664.2 bp +41.5 bp -23.1 bp Compare
Spain 10Y 661.7 bp +16.2 bp -86.7 bp Compare
United Kingdom 10Y 654.2 bp +30.2 bp -25.8 bp Compare
United States 10Y 641.6 bp +23.6 bp -66.1 bp Compare
Italy 10Y 584.4 bp +18.3 bp -38.1 bp Compare
India 10Y 261.3 bp -4.0 bp -86.4 bp Compare
Russia 10Y -36.5 bp +50.5 bp -130.5 bp Compare
Brazil 10Y -294.1 bp +21.0 bp -167.7 bp Compare

South Africa 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%
30 years 11.730% 3.59 11.81 28.25 44.68 61.12 77.56
25 years 11.845% 6.09 14.02 29.87 45.73 61.59 77.44
20 years 11.735% 10.87 18.46 33.66 48.85 64.04 79.23
12 years 10.605% 29.83 36.45 49.68 62.92 76.15 89.38
10 years 9.925% 38.82 44.98 57.31 69.64 81.97 94.30
5 years 8.335% 67.01 70.97 78.89 86.80 94.72 102.63
Maturity Date 100.00 100.00 100.00 100.00 100.00 100.00

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