The Turkey 10Y Government Bond has a 25.705% yield.
10 Years vs 2 Years bond spread is -1283.5 bp.
Yield Curve is inverted in Long-Term vs Short-Term Maturities.
Central Bank Rate is 40.00% (last modification in November 2023).
The Turkey credit rating is B, according to Standard & Poor's agency.
Current 5-Years Credit Default Swap quotation is 329.44 and implied probability of default is 5.49%.
Turkey Yield Curve
| Residual Maturity |
Yield | ZC Price | Last Change |
||||||
|---|---|---|---|---|---|---|---|---|---|
| Last | Chg 1M | Chg 6M | Last | Chg 1M | Chg 6M | ||||
| 3 months | 36.883% | +998.9 bp | +2263.2 bp | 08 Dec | |||||
| 6 months | 37.992% | +651.8 bp | +2502.8 bp | 09 Dec | |||||
| 9 months | 37.642% | +127.5 bp | +2222.8 bp | 09 Dec | |||||
| 2 years | 38.540% | -328.5 bp | +2526.0 bp | 52.10 | +4.79 % | -33.15 % | 08 Dec | ||
| 3 years | 34.540% | +157.0 bp | +1864.5 bp | 41.06 | -3.46 % | -36.08 % | 28 Nov | ||
| 5 years | 28.285% | -586.0 bp | +1224.0 bp | 28.78 | +25.02 % | -39.44 % | 08 Dec | ||
| 10 years | 25.705% | -300.5 bp | +1002.0 bp | 10.15 | +26.72 % | -56.42 % | 08 Dec | ||
| Last Update: 10 Dec 2023 0:15 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).
| Residual Maturity |
Yield | Spread vs Bond | Spread vs Central Bank Rate (40.00%) |
|||
|---|---|---|---|---|---|---|
| 3 months | 2 years | 5 years | ||||
| 10 years | 25.705% | -1429.5 bp | ||||
| 5 years | 28.285% | -1171.5 bp | ||||
| 2 years | 38.540% | -146.0 bp | ||||
| 3 months | 36.883% | -311.7 bp | ||||
Focusing on 2 years Government Bond:
| 5Y vs 2Y | -1025.5 bp | Yield Curve is inverted in Mid-Term vs Short-Term Maturities | ||
| 10Y vs 2Y | -1283.5 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 | - |
| 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 | 40.00% |
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.
| Credit Default Swap | CDS Value | Var % 1W | Var % 1M | Var % 1Y | Implied PD(*) | |
|---|---|---|---|---|---|---|
| 5 Years CDS | 329.44 | -1.65 % | -10.82 % | -37.20 % | 5.49 % | |
| (*) 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 25.705% yield.
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.
| Turkey 10Y vs | Current Spread | Chg 1M | Chg 6M | Compare Countries |
|
|---|---|---|---|---|---|
| vs Japan 10Y | 2493.8 bp | -293.0 bp | +967.7 bp | ||
| vs Germany 10Y | 2344.3 bp | -255.4 bp | +1013.3 bp | ||
| vs China 10Y | 2300.7 bp | -303.8 bp | +1002.6 bp | ||
| vs France 10Y | 2288.8 bp | -252.5 bp | +1012.0 bp | ||
| vs Spain 10Y | 2242.6 bp | -251.9 bp | +1009.4 bp | ||
| vs Canada 10Y | 2230.4 bp | -253.2 bp | +1002.0 bp | ||
| vs United Kingdom 10Y | 2168.1 bp | -269.9 bp | +1023.8 bp | ||
| vs Italy 10Y | 2165.0 bp | -248.2 bp | +1008.0 bp | ||
| vs United States 10Y | 2147.6 bp | -260.7 bp | +953.4 bp | ||
| vs Australia 10Y | 2135.1 bp | -272.7 bp | +960.5 bp | ||
| vs India 10Y | 1843.9 bp | -297.1 bp | +979.3 bp | ||
| vs Brazil 10Y | 1476.4 bp | -259.5 bp | +1024.6 bp | ||
| vs Russia 10Y | 1333.5 bp | -353.5 bp | +850.0 bp |
Turkey Government Bonds Prices
Price Simulation: bonds with a face value of 100, with different coupon rates.
Click on for a forecast of the yield.
| Residual Maturity |
Yield | Bond Price - with different Coupon Rates | Fx | ||||||
|---|---|---|---|---|---|---|---|---|---|
| 0% | 1% | 3% | 5% | 7% | 9% | ||||
| 10 years | 25.705% | 10.15 | 13.65 | 20.64 | 27.63 | 34.62 | 41.61 | ||
| 5 years | 28.285% | 28.78 | 31.30 | 36.34 | 41.37 | 46.41 | 51.44 | ||
| 3 years | 34.540% | 41.06 | 42.77 | 46.18 | 49.59 | 53.01 | 56.42 | ||
| 2 years | 38.540% | 52.10 | 53.34 | 55.83 | 58.32 | 60.80 | 63.29 | ||
| Maturity Date | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |||
