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).
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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

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

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