COUNTRY •
TURKEY
Last Update: 1 Apr 2023 2:15 GMT+0
The Turkey 10Y Government Bond has a 10.575% yield.
10 Years vs 2 Years bond spread is -114 bp. Yield Curve is inverted in Long-Term vs Short-Term Maturities.
Central Bank Rate is 8.50% (last modification in February 2023).
The Turkey credit rating is B, according to Standard & Poor's agency.
Current 5-Years Credit Default Swap quotation is 521.15 and implied probability of default is 8.69%.
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 | 10.635% | +284.0 bp | -343.8 bp | 31 Mar | |||||
| 6 months | 15.394% | +682.4 bp | +98.7 bp | 31 Mar | |||||
| 9 months | 15.026% | +641.7 bp | +84.3 bp | 31 Mar | |||||
| 2 years | 11.715% | +119.0 bp | -267.5 bp | 80.13 | -2.11 % | +4.85 % | 31 Mar | ||
| 3 years | 16.020% | +678.5 bp | +165.0 bp | 64.03 | -16.54 % | -4.20 % | 31 Mar | ||
| 5 years | 10.900% | +170.0 bp | +106.0 bp | 59.61 | -7.44 % | -4.70 % | 31 Mar | ||
| 10 years | 10.575% | -8.5 bp | -101.5 bp | 36.60 | +0.77 % | +9.58 % | 31 Mar | ||
Last Update: 1 Apr 2023 2:15 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).
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 (8.50%) |
|||
|---|---|---|---|---|---|---|
| 3 months | 2 years | 5 years | ||||
| 10 years | 10.575% | 207.5 bp | ||||
| 5 years | 10.900% | 240.0 bp | ||||
| 2 years | 11.715% | 321.5 bp | ||||
| 3 months | 10.635% | 213.5 bp | ||||
Focusing on 2 years Government Bond:
If data are not all visible, swipe table left
| 5Y vs 2Y | -81.5 bp | Yield Curve is inverted in Mid-Term vs Short-Term Maturities | ||
| 10Y vs 2Y | -114 bp | Yield Curve is inverted in Long-Term vs Short-Term Maturities |
Readings that may interest you
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
|
- |
| Moody's Investors Service |
B3
|
- |
| 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 | 8.50% |
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 | 521.15 | -1.56 % | -7.10 % | -5.14 % | 8.69 % |
(*) 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 10.575% 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
| Turkey 10Y vs | Current Spread | Chg 1M | Chg 6M | ||
|---|---|---|---|---|---|
| Japan 10Y | 1024.6 bp | +8.7 bp | -110.1 bp | Compare | |
| Germany 10Y | 829.2 bp | +35.8 bp | -118.0 bp | Compare | |
| France 10Y | 779.1 bp | +33.5 bp | -106.6 bp | Compare | |
| China 10Y | 770.1 bp | -2.7 bp | -110.7 bp | Compare | |
| Canada 10Y | 765.8 bp | +43.6 bp | -76.2 bp | Compare | |
| Australia 10Y | 733.5 bp | +50.7 bp | -34.8 bp | Compare | |
| Spain 10Y | 728.0 bp | +37.6 bp | -100.3 bp | Compare | |
| United Kingdom 10Y | 711.0 bp | +27.5 bp | -39.7 bp | Compare | |
| United States 10Y | 710.2 bp | +43.8 bp | -65.1 bp | Compare | |
| Italy 10Y | 649.8 bp | +42.1 bp | -58.5 bp | Compare | |
| India 10Y | 326.0 bp | +3.4 bp | -93.2 bp | Compare | |
| Russia 10Y | 27.5 bp | +61.0 bp | -107.5 bp | Compare | |
| Brazil 10Y | -232.5 bp | +35.6 bp | -195.2 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.
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 | 10.575% | 36.60 | 42.59 | 54.58 | 66.57 | 78.57 | 90.56 | ||
| 5 years | 10.900% | 59.61 | 63.32 | 70.73 | 78.14 | 85.55 | 92.96 | ||
| 3 years | 16.020% | 64.03 | 66.28 | 70.77 | 75.26 | 79.75 | 84.24 | ||
| 2 years | 11.715% | 80.13 | 81.82 | 85.22 | 88.61 | 92.00 | 95.39 | ||
| Maturity Date | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |||