COUNTRY • TURKEY
Last Update: 28 Jun 2022 5:15 GMT+0

The Turkey 10Y Government Bond has a 18.660% yield.

10 Years vs 2 Years bond spread is -458 bp.
Yield Curve is inverted in Long-Term vs Short-Term Maturities.

Central Bank Rate is 14.00% (last modification in December 2021).

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

Current 5-Years Credit Default Swap quotation is 803.61 and implied probability of default is 13.39%.

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 18.125% +97.9 bp -189.7 bp 27 Jun
6 months 20.327% +98.4 bp -97.4 bp 27 Jun
9 months 23.366% -22.7 bp +268.3 bp 27 Jun
1 year 22.300% -20.0 bp +57.0 bp 81.77 +0.17 % -0.46 % 28 Jun
2 years 23.240% -211.0 bp -5.0 bp 65.84 +3.46 % +0.08 % 28 Jun
3 years 22.650% -245.0 bp -121.0 bp 54.20 +6.11 % +2.98 % 28 Jun
5 years 18.760% -637.0 bp -713.0 bp 42.33 +29.85 % +33.83 % 28 Jun
10 years 18.660% -372.0 bp -595.0 bp 18.07 +36.17 % +63.09 % 28 Jun
Last Update: 28 Jun 2022 5:15 GMT+0

Turkey 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 (14.00%)
3 months 1 year 2 years 5 years
10 years 18.660% 466.0 bp
5 years 18.760%
476.0 bp
2 years 23.240%
924.0 bp
1 year 22.300%
830.0 bp
3 months 18.125%
412.5 bp
Focusing on 2 years Government Bond:
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2Y vs 1Y 94 bp Normal Convexity in Short-Term Maturities
5Y vs 2Y -448 bp Yield Curve is inverted in Mid-Term vs Short-Term Maturities
10Y vs 2Y -458 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+
negative
Moody's Investors Service
B2
negative
Fitch Ratings
B+
negative
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 14.00%

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 803.61 -1.82 % +12.61 % +113.93 % 13.39 %
(*) 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 18.660% 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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Turkey 10Y vs Current Spread Chg 1M Chg 6M
Japan 10Y 1843.1 bp -372.6 bp -612.0 bp Compare
Germany 10Y 1711.7 bp -428.7 bp -772.9 bp Compare
France 10Y 1658.5 bp -430.1 bp -789.4 bp Compare
United Kingdom 10Y 1627.3 bp -418.3 bp -741.4 bp Compare
Spain 10Y 1597.3 bp -431.9 bp -812.7 bp Compare
China 10Y 1580.8 bp -382.2 bp -598.2 bp Compare
United States 10Y 1547.9 bp -415.8 bp -764.7 bp Compare
Canada 10Y 1527.9 bp -431.1 bp -785.5 bp Compare
Italy 10Y 1504.1 bp -444.3 bp -847.4 bp Compare
Australia 10Y 1491.8 bp -421.3 bp -810.5 bp Compare
India 10Y 1121.3 bp -381.7 bp -691.9 bp Compare
Russia 10Y 1000.0 bp -287.0 bp -619.5 bp Compare
Brazil 10Y 587.8 bp -406.9 bp -802.5 bp Compare

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.
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Residual
Maturity
Yield Bond Price - with different Coupon Rates Fx
0% 1% 3% 5% 7% 9%
10 years 18.660% 18.07 22.46 31.24 40.02 48.80 57.59
5 years 18.760% 42.33 45.40 51.55 57.70 63.85 70.00
3 years 22.650% 54.20 56.22 60.27 64.31 68.35 72.40
2 years 23.240% 65.84 67.31 70.25 73.19 76.13 79.07
1 year 22.300% 81.77 82.58 84.22 85.85 87.49 89.13
Maturity Date 100.00 100.00 100.00 100.00 100.00 100.00

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