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).
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 (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:
If data are not all visible, swipe table left
| 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 |
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+
|
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.
If data are not all visible, swipe table left
| 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.
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 | 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 | |||