Austria Government Bonds - Yields Curve

COUNTRY • SUMMARY
AUSTRIA

The Austria 10-Year Government Bond currently offers a yield of 2.493%. 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 yield spread between Austria 10-Year and 2-Year government bonds is 37.8 basis points (bp), reflecting the difference in yields between long-term and short-term debt.
Typically, long-term bonds carry higher yields than short-term ones.
Current observation: Normal Convexity in Long-Term vs Short-Term Maturities.

Austria Central Bank Rate stands at 3.40%, following the most recent adjustment in October 2024.

According to Standard & Poor's agency, the Austria credit rating is AA+.

The current quotation for Austria 5-Years Credit Default Swap is 14.65 basis points. Correspondingly, the implied probability of default is 0.24%.

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Austria Yield Curve

A Yield Curve is a graph that shows the relationship between interest rates (or yields) and different maturities of debt for a specific borrower, often government bonds. It typically plots yields on the y-axis and maturities on the x-axis, ranging from short-term to long-term bonds.

The shape of the yield curve gives investors insights into market expectations for interest rates, economic growth, and inflation. A normal yield curve, where long-term rates are higher than short-term, suggests economic growth, while an inverted curve, where short-term rates are higher, can indicate an upcoming recession.

Austria Yield Curve
Austria Government Bonds
7 December 2024

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Residual
Maturity
Annualized Yield Constant Maturity Zero Coupon Price Capital
Growth
of 1 Unit
Last
Update
Last Chg 1M Chg 6M Chg 12M Last Chg 1M Chg 6M Chg 12M
3 months 2.948% -10.6 bp -81.3 bp -95.4 bp 99.28 +0.03 % +0.20 % +0.23 % 1.007 07 Dec
6 months 2.656% -19.5 bp -107.1 bp -107.5 bp 98.70 +0.10 % +0.52 % +0.52 % 1.013 07 Dec
1 year 2.400% -16.3 bp -116.5 bp -105.4 bp 97.66 +0.16 % +1.14 % +1.03 % 1.024 07 Dec
2 years 2.115% +19.5 bp -115.8 bp -57.6 bp 95.90 -0.38 % +2.28 % +1.13 % 1.042 07 Dec
3 years 2.165% -27.4 bp -92.9 bp -41.8 bp 93.78 +0.81 % +2.76 % +1.24 % 1.066 07 Dec
4 years 2.209% -29.6 bp -79.8 bp -28.4 bp 91.63 +1.16 % +3.16 % +1.11 % 1.091 07 Dec
5 years 2.255% -36.6 bp -75.6 bp -25.2 bp 89.45 +1.80 % +3.76 % +1.23 % 1.117 07 Dec
6 years 2.313% -35.0 bp -69.3 bp -25.5 bp 87.18 +2.07 % +4.13 % +1.50 % 1.147 07 Dec
7 years 2.336% -34.2 bp -70.1 bp -29.1 bp 85.07 +2.36 % +4.90 % +2.00 % 1.175 07 Dec
8 years 2.393% -36.0 bp -67.3 bp -22.9 bp 82.76 +2.85 % +5.37 % +1.80 % 1.208 07 Dec
9 years 2.439% -39.7 bp -65.3 bp -24.8 bp 80.50 +3.54 % +5.88 % +2.20 % 1.242 07 Dec
10 years 2.493% -40.3 bp -62.3 bp -25.3 bp 78.17 +4.00 % +6.24 % +2.49 % 1.279 07 Dec
15 years 2.703% -39.0 bp -56.9 bp -22.4 bp 67.03 +5.86 % +8.64 % +3.33 % 1.491 07 Dec
20 years 2.770% -37.3 bp -52.1 bp -20.0 bp 57.90 +7.52 % +10.64 % +3.97 % 1.727 07 Dec
25 years 2.724% -40.6 bp -55.9 bp -30.3 bp 51.07 +10.35 % +14.53 % +7.63 % 1.957 07 Dec
30 years 2.816% -41.8 bp -40.5 bp -16.0 bp 43.47 +12.94 % +12.53 % +4.77 % 2.300 07 Dec
40 years 2.796% -45.3 bp -49.3 bp -29.8 bp 33.19 +19.26 % +21.09 % +12.28 % 3.013 07 Dec
50 years 2.561% -36.2 bp -41.8 bp -27.1 bp 28.24 +19.26 % +22.57 % +14.10 % 3.540 07 Dec
60 years 2.620% -38.7 bp n.a. n.a. 21.19 +25.38 % n.a. n.a. 4.719 07 Dec
95 years 2.163% -22.4 bp -17.6 bp -77.8 bp 13.09 +23.03 % +17.72 % +105.49 % 7.636 07 Dec
Last Update: 7 Dec 2024, 12:23 GMT+0

Austria Yield History

This table presents the historical values of the yield curve, with data points collected at the end of each year.

By analyzing these values over time, one can observe trends and shifts in economic sentiment and monetary policy that impact investor expectations about future interest rates and economic growth.

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Government Bonds Yield (%)
Spread (bp)
Period 1M 3M 6M 1Y 2Y 3Y 5Y 7Y 10Y 30Y 10Y - 2Y
Dec 2024 n.a. 2.948 2.656 2.400 2.115 2.165 2.255 2.336 2.493 2.816 37.8
Dec 2023 n.a. 3.964 3.760 3.286 2.514 2.328 2.337 2.477 2.608 2.850 9.4
Dec 2022 n.a. n.a. n.a. 2.805 2.884 2.757 2.869 3.026 3.171 3.072 28.7
Dec 2021 n.a. n.a. n.a. -0.651 -0.679 -0.593 -0.366 -0.231 0.068 0.648 74.7
Dec 2020 n.a. n.a. n.a. -0.662 -0.713 -0.703 -0.705 -0.631 -0.443 0.079 27.0
Dec 2019 n.a. n.a. n.a. -0.632 -0.591 -0.560 -0.350 -0.187 0.016 0.626 60.7
Dec 2018 n.a. n.a. n.a. -0.541 -0.490 -0.477 -0.161 0.144 0.498 1.363 98.8
Dec 2017 n.a. n.a. n.a. -0.576 -0.503 -0.470 -0.118 0.181 0.583 1.457 108.6
Dec 2016 n.a. n.a. n.a. -0.725 -0.697 -0.617 -0.361 -0.095 0.437 n.a. 113.4
Dec 2015 n.a. n.a. n.a. -0.297 -0.267 -0.236 -0.020 0.359 0.909 n.a. 117.6

Austria 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).

Internal Spread on Key Maturities:
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2Y vs 1Y -28.5 bp Yield Curve is flat in Short-Term Maturities
5Y vs 2Y 14.0 bp Yield Curve is flat in Mid-Term vs Short-Term Maturities
10Y vs 2Y 37.8 bp Normal Convexity in Long-Term vs Short-Term Maturities
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Residual
Maturity
Yield Spread vs Spread vs
Central Bank
Rate (3.40%)
3 months 1 year 2 years 5 years 10 years
30 years 2.816% -58.4bp
10 years 2.493%
-90.7bp
5 years 2.255%
-114.5bp
2 years 2.115%
-128.5bp
1 year 2.400%
-100.0bp
3 months 2.948%
-45.2bp

Austria 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).

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Rating Agency Rating Outlook Last Update Action
Standard & Poor's AA+ positive 26 Aug 2024 outlook upgrade
Moody's Investors Service Aa1 - 24 Jun 2016 rating downgrade
Fitch Ratings AA+ - 28 Aug 2023 outlook upgrade
DBRS AAA - 21 Jun 2011

Austria 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 3.40%

Austria 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 14.65 +1.61 % +13.79 % -2.31 % 0.24 %
(*) Implied probability of default, calculated on the hypothesis of a 40% recovery rate.
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Austria 10Y Bond Yield Spread

The Austria 10Y Government Bond has a 2.493% yield.

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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Austria 10Y vs Current Spread Chg 1M Chg 6M Chg 12M Compare
Countries
vs Japan 10Y 145.0 bp -44.3 bp -70.2 bp -54.5 bp
vs China 10Y 52.8 bp -24.2 bp -26.9 bp +48.3 bp
vs Germany 10Y 39.1 bp -6.6 bp -10.1 bp -15.9 bp
vs Spain 10Y -26.5 bp +2.1 bp +1.6 bp +19.4 bp
vs France 10Y -38.0 bp -8.5 bp -39.1 bp -38.7 bp
vs Canada 10Y -48.6 bp -14.0 bp -11.1 bp +9.4 bp
vs Italy 10Y -70.2 bp +12.5 bp +12.5 bp +48.4 bp
vs United States 10Y -165.6 bp -21.9 bp -33.7 bp -26.0 bp
vs Australia 10Y -177.0 bp +3.0 bp -56.2 bp -22.5 bp
vs United Kingdom 10Y -178.4 bp -20.0 bp -64.6 bp -56.4 bp
vs India 10Y -435.7 bp -34.5 bp -45.5 bp +13.3 bp
vs Brazil 10Y -1148.4 bp -177.1 bp -276.9 bp -335.5 bp
vs Russia 10Y -1348.2 bp +13.6 bp -177.8 bp -380.8 bp

Austria 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.
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Residual
Maturity
Yield Bond Price - with different Coupon Rates Fx
0% 1% 3% 5% 7% 9%
95 years 2.163% 13.09 53.27 133.63 213.99 294.34 374.70
60 years 2.620% 21.19 51.27 111.43 171.59 231.76 291.92
50 years 2.561% 28.24 56.26 112.30 168.34 224.38 280.42
40 years 2.796% 33.19 57.08 104.87 152.67 200.46 248.25
30 years 2.816% 43.47 63.54 103.69 143.84 183.99 224.14
25 years 2.724% 51.07 69.04 104.96 140.88 176.80 212.72
20 years 2.770% 57.90 73.10 103.50 133.89 164.29 194.69
15 years 2.703% 67.03 79.23 103.62 128.02 152.42 176.81
10 years 2.493% 78.17 86.93 104.44 121.95 139.46 156.97
9 years 2.439% 80.50 88.50 104.48 120.47 136.46 152.45
8 years 2.393% 82.76 89.97 104.37 118.78 133.18 147.59
7 years 2.336% 85.07 91.46 104.24 117.02 129.80 142.58
6 years 2.313% 87.18 92.72 103.81 114.89 125.98 137.06
5 years 2.255% 89.45 94.13 103.49 112.84 122.20 131.56
4 years 2.209% 91.63 95.42 103.00 110.57 118.15 125.73
3 years 2.165% 93.78 96.65 102.40 108.15 113.90 119.65
2 years 2.115% 95.90 97.84 101.72 105.59 109.47 113.35
1 year 2.400% 97.66 98.63 100.59 102.54 104.49 106.45
Maturity Date 100.00 100.00 100.00 100.00 100.00 100.00
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