The Zambia 10-Year Government Bond currently offers a yield of 25.540%. This yield reflects the return investors can expect if they hold the bond until maturity. Government bond yields are critical indicators of economic confidence and investor sentiment.
The spread between Zambia 10-Year and 2-Year government bonds is 1204 basis points (bp). This spread is a measure of the difference in yields between long-term and short-term government debt. Long-term yields should be greater than short-term ones.
Current analysis: Normal Convexity in Long-Term vs Short-Term Maturities.
Zambia Central Bank Rate stands at 13.50%, following the most recent adjustment in May 2024.
According to Standard & Poor's agency, the Zambia credit rating is SD.
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Zambia Yield Curve
| Residual Maturity |
Yield | ZC Price | Last Change |
||||||
|---|---|---|---|---|---|---|---|---|---|
| Last | Chg 1M | Chg 6M | Last | Chg 1M | Chg 6M | ||||
| 6 months | 13.503% | +100.3 bp | +100.2 bp | 25 Jul | |||||
| 9 months | 14.500% | +79.9 bp | +132.1 bp | 25 Jul | |||||
| 1 year | 19.001% | 0.0 bp | +256.3 bp | 84.03 | 0.00 % | -2.15 % | 25 Jul | ||
| 2 years | 13.500% | +100.0 bp | +64.2 bp | 77.63 | -1.75 % | -1.12 % | 25 Jul | ||
| 3 years | 18.760% | -24.2 bp | +8.0 bp | 59.70 | +0.61 % | -0.20 % | 25 Jul | ||
| 5 years | 21.918% | -8.2 bp | -39.2 bp | 37.12 | +0.32 % | +1.62 % | 25 Jul | ||
| 7 years | 23.556% | -2.2 bp | -22.9 bp | 22.75 | +0.13 % | +1.29 % | 25 Jul | ||
| 10 years | 25.540% | +54.0 bp | +33.0 bp | 10.28 | -4.28 % | -2.65 % | 26 Jul | ||
| 15 years | 27.674% | +72.6 bp | +60.1 bp | 2.56 | -8.24 % | -6.91 % | 25 Jul | ||
| Last Update: 26 Jul 2024 2:18 GMT+0 | |||||||||
Zambia 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 (13.50%) |
|||
|---|---|---|---|---|---|---|
| 1 year | 2 years | 5 years | ||||
| 10 years | 25.540% | 1204.0 bp | ||||
| 5 years | 21.918% | 841.8 bp | ||||
| 2 years | 13.500% | 0.0 bp | ||||
| 1 year | 19.001% | 550.1 bp | ||||
Focusing on 2 years Government Bond:
| 2Y vs 1Y | -550.1 bp | Yield Curve is inverted in Short-Term Maturities | ||
| 5Y vs 2Y | 841.8 bp | Normal Convexity in Mid-Term vs Short-Term Maturities | ||
| 10Y vs 2Y | 1204 bp | Normal Convexity in Long-Term vs Short-Term Maturities |
Zambia 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 Zambia Credit Ratings History
| Rating Agency | Rating | Outlook |
|---|---|---|
| Standard & Poor's | SD | - |
| Moody's Investors Service | Caa2 | - |
| Fitch Ratings | RD | - |
| DBRS | - | - |
Zambia 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 | 13.50% |
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Zambia 10Y Bond Yield Spread
The Zambia 10Y Government Bond has a 25.540% 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.
| Zambia 10Y vs | Current Spread | Chg 1M | Chg 6M | Compare Countries |
|
|---|---|---|---|---|---|
| vs Japan 10Y | 2448.1 bp | +50.0 bp | -2.4 bp | ||
| vs China 10Y | 2334.3 bp | +57.8 bp | +64.7 bp | ||
| vs Germany 10Y | 2313.2 bp | +58.9 bp | +22.3 bp | ||
| vs France 10Y | 2242.6 bp | +61.7 bp | +0.7 bp | ||
| vs Spain 10Y | 2230.5 bp | +70.4 bp | +29.7 bp | ||
| vs Canada 10Y | 2219.5 bp | +70.5 bp | +53.8 bp | ||
| vs Italy 10Y | 2177.4 bp | +76.8 bp | +38.2 bp | ||
| vs United Kingdom 10Y | 2143.7 bp | +57.9 bp | +22.8 bp | ||
| vs United States 10Y | 2134.3 bp | +67.1 bp | +27.7 bp | ||
| vs Australia 10Y | 2122.9 bp | +65.3 bp | +25.4 bp | ||
| vs India 10Y | 1848.5 bp | +48.2 bp | +44.6 bp | ||
| vs Brazil 10Y | 1345.3 bp | +50.8 bp | -119.3 bp | ||
| vs Russia 10Y | 1010.2 bp | +23.2 bp | -292.3 bp |
Zambia 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% | ||||
| 15 years | 27.674% | 2.56 | 6.08 | 13.12 | 20.17 | 27.21 | 34.25 | ||
| 10 years | 25.540% | 10.28 | 13.80 | 20.82 | 27.85 | 34.87 | 41.90 | ||
| 7 years | 23.556% | 22.75 | 26.03 | 32.59 | 39.15 | 45.70 | 52.26 | ||
| 5 years | 21.918% | 37.12 | 39.99 | 45.73 | 51.47 | 57.21 | 62.94 | ||
| 3 years | 18.760% | 59.70 | 61.85 | 66.15 | 70.44 | 74.74 | 79.03 | ||
| 2 years | 13.500% | 77.63 | 79.28 | 82.60 | 85.91 | 89.23 | 92.54 | ||
| 1 year | 19.001% | 84.03 | 84.87 | 86.55 | 88.23 | 89.92 | 91.60 | ||
| Maturity Date | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |||
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