COUNTRY • TURKEY
Last Update: 1 Dec 2022 0:15 GMT+0

The Turkey 10Y Government Bond has a 10.730% yield.

10 Years vs 2 Years bond spread is 26 bp.
Yield Curve is flat in Long-Term vs Short-Term Maturities.

Central Bank Rate is 9.00% (last modification in November 2022).

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

Current 5-Years Credit Default Swap quotation is 528.38 and implied probability of default is 8.81%.

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 10.470% -304.7 bp -591.8 bp 30 Nov
6 months 10.234% -342.8 bp -806.9 bp 30 Nov
9 months 9.353% -413.2 bp -1265.8 bp 30 Nov
1 year 10.730% -357.0 bp -1052.0 bp 90.31 +3.22 % +9.51 % 01 Dec
2 years 10.470% -399.0 bp -1375.0 bp 81.94 +7.35 % +26.43 % 01 Dec
3 years 8.450% -546.0 bp -1551.0 bp 78.40 +15.87 % +49.33 % 01 Dec
5 years 9.870% -14.0 bp -1268.0 bp 62.46 +0.64 % +72.64 % 01 Dec
10 years 10.730% -52.0 bp -1076.0 bp 36.09 +4.82 % +152.73 % 01 Dec
Last Update: 1 Dec 2022 0:15 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 (9.00%)
3 months 1 year 2 years 5 years
10 years 10.730% 173.0 bp
5 years 9.870%
87.0 bp
2 years 10.470%
147.0 bp
1 year 10.730%
173.0 bp
3 months 10.470%
147.0 bp
Focusing on 2 years Government Bond:
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2Y vs 1Y -26 bp Yield Curve is inverted in Short-Term Maturities
5Y vs 2Y -60 bp Yield Curve is inverted in Mid-Term vs Short-Term Maturities
10Y vs 2Y 26 bp Yield Curve is flat 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
-
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 9.00%

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 528.38 -11.58 % -19.91 % +6.51 % 8.81 %
(*) 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 10.730% 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 1046.3 bp -53.7 bp -1079.5 bp Compare
Germany 10Y 884.1 bp -27.1 bp -1147.3 bp Compare
France 10Y 832.9 bp -26.0 bp -1147.2 bp Compare
China 10Y 780.7 bp -77.3 bp -1088.3 bp Compare
Spain 10Y 778.3 bp -18.7 bp -1138.6 bp Compare
Canada 10Y 778.2 bp -20.1 bp -1073.1 bp Compare
United Kingdom 10Y 757.4 bp -21.8 bp -1177.4 bp Compare
Australia 10Y 723.8 bp -24.7 bp -1077.8 bp Compare
United States 10Y 710.6 bp -9.6 bp -1147.3 bp Compare
Italy 10Y 686.0 bp -12.5 bp -1143.5 bp Compare
India 10Y 345.0 bp -40.4 bp -1062.6 bp Compare
Russia 10Y 65.0 bp -74.0 bp -1153.0 bp Compare
Brazil 10Y -199.4 bp -144.7 bp -1091.8 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 10.730% 36.09 42.04 53.96 65.87 77.78 89.70
5 years 9.870% 62.46 66.26 73.87 81.48 89.08 96.69
3 years 8.450% 78.40 80.96 86.07 91.18 96.29 101.41
2 years 10.470% 81.94 83.67 87.12 90.57 94.02 97.46
1 year 10.730% 90.31 91.21 93.02 94.83 96.63 98.44
Maturity Date 100.00 100.00 100.00 100.00 100.00 100.00

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