COUNTRY •
SPAIN
Last Update: 24 Sep 2023 23:23 GMT+0
The Spain 10Y Government Bond has a 3.806% yield.
10 Years vs 2 Years bond spread is 15.2 bp. Yield Curve is flat in Long-Term vs Short-Term Maturities.
Central Bank Rate is 4.50% (last modification in September 2023).
The Spain credit rating is A, according to Standard & Poor's agency.
Current 5-Years Credit Default Swap quotation is 51.30 and implied probability of default is 0.86%.
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 | ||||
| 1 month | 3.571% | +10.1 bp | +111.1 bp | 24 Sep | |||||
| 3 months | 3.639% | +14.5 bp | +84.9 bp | 24 Sep | |||||
| 6 months | 3.881% | +24.0 bp | +87.4 bp | 22 Sep | |||||
| 9 months | 3.847% | +15.0 bp | +88.7 bp | 24 Sep | |||||
| 1 year | 3.837% | +13.2 bp | +97.3 bp | 96.30 | -0.13 % | -0.95 % | 24 Sep | ||
| 2 years | 3.654% | +23.0 bp | +94.6 bp | 93.07 | -0.45 % | -1.82 % | 24 Sep | ||
| 3 years | 3.649% | +30.5 bp | +89.6 bp | 89.81 | -0.87 % | -2.57 % | 24 Sep | ||
| 4 years | 3.474% | +19.4 bp | +68.0 bp | 87.23 | -0.75 % | -2.60 % | 24 Sep | ||
| 5 years | 3.435% | +16.2 bp | +60.1 bp | 84.46 | -0.79 % | -2.87 % | 24 Sep | ||
| 6 years | 3.480% | +19.1 bp | +60.7 bp | 81.44 | -1.11 % | -3.47 % | 24 Sep | ||
| 7 years | 3.623% | +26.2 bp | +60.9 bp | 77.95 | -1.75 % | -4.04 % | 24 Sep | ||
| 8 years | 3.692% | +27.0 bp | +64.5 bp | 74.82 | -2.07 % | -4.87 % | 24 Sep | ||
| 9 years | 3.713% | +21.7 bp | +58.9 bp | 72.03 | -1.87 % | -5.00 % | 24 Sep | ||
| 10 years | 3.806% | +22.7 bp | +58.8 bp | 68.83 | -2.16 % | -5.52 % | 24 Sep | ||
| 15 years | 4.082% | +22.7 bp | +57.2 bp | 54.87 | -3.23 % | -7.94 % | 24 Sep | ||
| 20 years | 4.240% | +22.8 bp | +63.9 bp | 43.58 | -4.28 % | -11.58 % | 24 Sep | ||
| 25 years | 4.272% | +26.0 bp | +64.7 bp | 35.14 | -6.04 % | -14.42 % | 24 Sep | ||
| 30 years | 4.352% | +27.3 bp | +64.1 bp | 27.86 | -7.56 % | -16.89 % | 24 Sep | ||
Last Update: 24 Sep 2023 23:23 GMT+0
Spain 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 | 4.352% | -14.8 bp | ||||||
| 10 years | 3.806% | -69.4 bp | ||||||
| 5 years | 3.435% | -106.5 bp | ||||||
| 2 years | 3.654% | -84.6 bp | ||||||
| 1 year | 3.837% | -66.3 bp | ||||||
| 3 months | 3.639% | -86.1 bp | ||||||
Focusing on 2 years Government Bond:
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| 2Y vs 1Y | -18.3 bp | Yield Curve is inverted in Short-Term Maturities | ||
| 5Y vs 2Y | -21.9 bp | Yield Curve is inverted in Mid-Term vs Short-Term Maturities | ||
| 10Y vs 2Y | 15.2 bp | Yield Curve is flat in Long-Term vs Short-Term Maturities |
Readings that may interest you
Spain 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
Spain Credit Ratings History
| Rating Agency | Rating | Outlook |
|---|---|---|
| Standard & Poor's |
A
|
- |
| Moody's Investors Service |
Baa1
|
- |
| Fitch Ratings |
A-
|
- |
| DBRS |
A
|
- |
Spain 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% |
Spain 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 | 51.30 | +8.53 % | +1.04 % | -2.47 % | 0.86 % |
(*) Implied probability of default, calculated on the hypothesis of a 40% recovery rate.
Spain 10Y Bond Yield Spread
The Spain 10Y Government Bond has a 3.806% 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.
If data are not all visible, swipe table left
| Spain 10Y vs | Current Spread | Chg 1M | Chg 6M | ||
|---|---|---|---|---|---|
| Japan 10Y | 308.2 bp | +15.4 bp | +12.3 bp | Compare | |
| China 10Y | 109.9 bp | +10.3 bp | +77.3 bp | Compare | |
| Germany 10Y | 107.4 bp | +5.1 bp | +0.6 bp | Compare | |
| France 10Y | 52.1 bp | +3.1 bp | -2.8 bp | Compare | |
| Canada 10Y | -14.4 bp | +0.9 bp | -59.6 bp | Compare | |
| United Kingdom 10Y | -44.0 bp | +41.6 bp | -37.4 bp | Compare | |
| Australia 10Y | -50.1 bp | +6.2 bp | -49.2 bp | Compare | |
| United States 10Y | -63.1 bp | +2.3 bp | -47.7 bp | Compare | |
| Italy 10Y | -82.6 bp | -17.3 bp | -4.1 bp | Compare | |
| India 10Y | -334.4 bp | +28.3 bp | +75.6 bp | Compare | |
| Brazil 10Y | -761.5 bp | -8.5 bp | +215.3 bp | Compare | |
| Russia 10Y | -876.4 bp | -40.3 bp | -82.2 bp | Compare |
Spain 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 | 4.352% | 27.86 | 44.44 | 77.59 | 110.74 | 143.89 | 177.05 | ||
| 25 years | 4.272% | 35.14 | 50.32 | 80.69 | 111.05 | 141.42 | 171.78 | ||
| 20 years | 4.240% | 43.58 | 56.89 | 83.50 | 110.11 | 136.72 | 163.34 | ||
| 15 years | 4.082% | 54.87 | 65.93 | 88.04 | 110.15 | 132.26 | 154.37 | ||
| 10 years | 3.806% | 68.83 | 77.02 | 93.40 | 109.78 | 126.16 | 142.54 | ||
| 9 years | 3.713% | 72.03 | 79.56 | 94.63 | 109.70 | 124.76 | 139.83 | ||
| 8 years | 3.692% | 74.82 | 81.64 | 95.28 | 108.92 | 122.56 | 136.20 | ||
| 7 years | 3.623% | 77.95 | 84.03 | 96.21 | 108.38 | 120.55 | 132.73 | ||
| 6 years | 3.480% | 81.44 | 86.78 | 97.44 | 108.10 | 118.77 | 129.43 | ||
| 5 years | 3.435% | 84.46 | 88.99 | 98.03 | 107.08 | 116.13 | 125.17 | ||
| 4 years | 3.474% | 87.23 | 90.91 | 98.26 | 105.61 | 112.96 | 120.31 | ||
| 3 years | 3.649% | 89.81 | 92.60 | 98.19 | 103.77 | 109.36 | 114.95 | ||
| 2 years | 3.654% | 93.07 | 94.97 | 98.76 | 102.55 | 106.34 | 110.13 | ||
| 1 year | 3.837% | 96.30 | 97.27 | 99.19 | 101.12 | 103.05 | 104.97 | ||
| Maturity Date | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |||