COUNTRY • SOUTH AFRICA
Last Update: 2 Oct 2023 14:15 GMT+0

The South Africa 10Y Government Bond has a 10.890% yield.

Central Bank Rate is 8.25% (last modification in May 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 8.100% -60.0 bp -15.0 bp 02 Oct
5 years 9.475% +53.5 bp +104.0 bp 63.60 -2.41 % -4.65 % 02 Oct
10 years 10.890% +59.0 bp +106.0 bp 35.57 -5.20 % -9.17 % 02 Oct
12 years 11.780% +69.0 bp +130.5 bp 26.28 -7.17 % -13.15 % 02 Oct
20 years 12.985% +56.0 bp +144.0 bp 8.70 -9.47 % -22.67 % 02 Oct
25 years 13.075% +55.5 bp +142.0 bp 4.63 -11.64 % -27.09 % 02 Oct
30 years 12.970% +54.0 bp +134.5 bp 2.58 -13.42 % -30.08 % 02 Oct
Last Update: 2 Oct 2023 14:15 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 (8.25%)
3 months 5 years 10 years
30 years 12.970% 472.0 bp
10 years 10.890%
264.0 bp
5 years 9.475%
122.5 bp
3 months 8.100%
-15.0 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 8.25%

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 10.890% 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 1013.0 bp +45.1 bp +62.9 bp Compare
China 10Y 818.4 bp +50.7 bp +122.8 bp Compare
Germany 10Y 800.4 bp +24.4 bp +46.0 bp Compare
France 10Y 744.8 bp +22.4 bp +40.2 bp Compare
Spain 10Y 692.7 bp +19.1 bp +39.2 bp Compare
Canada 10Y 682.1 bp +11.9 bp -9.2 bp Compare
Australia 10Y 634.6 bp +8.8 bp -24.7 bp Compare
United Kingdom 10Y 632.2 bp +42.4 bp -4.3 bp Compare
United States 10Y 622.5 bp +10.6 bp -13.2 bp Compare
Italy 10Y 610.4 bp +3.5 bp +35.1 bp Compare
India 10Y 368.0 bp +55.5 bp +116.5 bp Compare
Brazil 10Y -82.1 bp +3.1 bp +224.9 bp Compare
Russia 10Y -216.0 bp -39.0 bp -169.0 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 12.970% 2.58 10.09 25.11 40.13 55.16 70.18
25 years 13.075% 4.63 11.93 26.51 41.10 55.69 70.28
20 years 12.985% 8.70 15.73 29.79 43.86 57.92 71.98
12 years 11.780% 26.28 32.54 45.05 57.57 70.09 82.60
10 years 10.890% 35.57 41.49 53.32 65.15 76.98 88.82
5 years 9.475% 63.60 67.44 75.12 82.81 90.49 98.17
Maturity Date 100.00 100.00 100.00 100.00 100.00 100.00

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