Turkey Government Bonds - Yields Curve

COUNTRY • SUMMARY
TURKEY
Last Update: 20 May 2024 11:15 GMT+0

The Turkey 10Y Government Bond has a 27.785% yield.

10 Years vs 2 Years bond spread is -1480.5 bp.
Yield Curve is inverted in Long-Term vs Short-Term Maturities.

Central Bank Rate is 50.00% (last modification in March 2024).

The Turkey credit rating is B+, according to Standard & Poor's agency.

Current 5-Years Credit Default Swap quotation is 266.00 and implied probability of default is 4.43%.

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Turkey Yield Curve

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 39.866% 0.0 bp +750.3 bp 20 Jan
6 months 39.068% 0.0 bp +382.9 bp 20 Jan
9 months 38.755% 0.0 bp +57.6 bp 20 Jan
2 years 42.590% -296.0 bp +197.0 bp 49.18 +4.19 % -2.75 % 17 May
3 years 32.490% -98.0 bp -220.5 bp 43.00 +2.23 % +5.08 % 17 May
5 years 33.255% -80.0 bp +145.5 bp 23.80 +3.03 % -5.33 % 20 May
10 years 27.785% -71.0 bp -91.5 bp 8.61 +5.64 % +7.36 % 20 May
Last Update: 20 May 2024 11:15 GMT+0

Turkey Yield 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).

If data are not all visible, swipe table left
Residual
Maturity
Yield Spread vs Bond Spread vs
Central Bank
Rate (50.00%)
2 years 5 years
10 years 27.785% -2221.5 bp
5 years 33.255%
-1674.5 bp
2 years 42.590%
-741.0 bp

Focusing on 2 years Government Bond:

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5Y vs 2Y -933.5 bp Yield Curve is inverted in Mid-Term vs Short-Term Maturities
10Y vs 2Y -1480.5 bp Yield Curve is inverted in Long-Term vs Short-Term Maturities

Turkey 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 Turkey Credit Ratings History

Rating Agency Rating Outlook
Standard & Poor's B+ positive
Moody's Investors Service B3 positive
Fitch Ratings B+ positive
DBRS BB (high) negative

Turkey 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 50.00%

Turkey 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 266.00 -1.40 % -15.00 % -51.05 % 4.43 %
(*) Implied probability of default, calculated on the hypothesis of a 40% recovery rate.

Turkey 10Y Bond Yield Spread

The Turkey 10Y Government Bond has a 27.785% yield.

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
Turkey 10Y vs Current Spread Chg 1M Chg 6M Compare
Countries
vs Japan 10Y 2681.6 bp -83.6 bp -113.8 bp
vs China 10Y 2546.4 bp -76.5 bp -56.2 bp
vs Germany 10Y 2526.8 bp -72.4 bp -82.1 bp
vs France 10Y 2477.4 bp -70.2 bp -75.9 bp
vs Spain 10Y 2451.5 bp -66.3 bp -60.6 bp
vs Canada 10Y 2413.0 bp -59.2 bp -87.8 bp
vs Italy 10Y 2397.7 bp -60.9 bp -38.0 bp
vs United Kingdom 10Y 2360.7 bp -65.7 bp -96.0 bp
vs Australia 10Y 2350.6 bp -64.3 bp -70.4 bp
vs United States 10Y 2336.7 bp -50.5 bp -90.6 bp
vs India 10Y 2069.0 bp -58.0 bp -75.8 bp
vs Brazil 10Y 1613.8 bp -94.9 bp -152.0 bp
vs Russia 10Y 1270.0 bp -183.5 bp -399.5 bp

Turkey 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%
10 years 27.785% 8.61 11.90 18.48 25.06 31.64 38.22
5 years 33.255% 23.80 26.09 30.67 35.26 39.84 44.42
3 years 32.490% 43.00 44.75 48.26 51.77 55.28 58.79
2 years 42.590% 49.18 50.38 52.76 55.15 57.54 59.92
Maturity Date 100.00 100.00 100.00 100.00 100.00 100.00

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