Brazil Government Bonds - Yields Curve

COUNTRY • SUMMARY
BRAZIL
Last Update: 24 May 2024 2:15 GMT+0

The Brazil 10Y Government Bond has a 11.702% yield.

10 Years vs 2 Years bond spread is 122.4 bp.
Normal Convexity in Long-Term vs Short-Term Maturities.

Central Bank Rate is 10.50% (last modification in May 2024).

The Brazil credit rating is BB, according to Standard & Poor's agency.

Current 5-Years Credit Default Swap quotation is 140.40 and implied probability of default is 2.34%.

Table of contents
The first official book of
How to build wealth
with Lazy Portfolios and Passive Investing Strategies
Choose a goal
Use the best metrics to test it
Choose Bond ETFs to control risk
Join the passive investing strategy
New asset allocation simulations in USD and EUR

Brazil Yield Curve

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 10.597% -14.6 bp -213.2 bp 23 May
6 months 10.498% +1.5 bp -130.3 bp 23 May
9 months 10.519% +20.3 bp -66.4 bp 23 May
1 year 10.569% +25.5 bp -12.7 bp 90.44 -0.23 % +0.11 % 23 May
2 years 10.478% +32.3 bp +12.6 bp 81.93 -0.58 % -0.23 % 23 May
3 years 10.999% +30.2 bp +55.7 bp 73.12 -0.81 % -1.50 % 23 May
5 years 11.440% +29.3 bp +61.5 bp 58.18 -1.31 % -2.74 % 23 May
8 years 11.675% +28.4 bp +66.7 bp 41.34 -2.01 % -4.68 % 23 May
10 years 11.702% +27.4 bp +60.3 bp 33.07 -2.42 % -5.27 % 23 May
Last Update: 24 May 2024 2:15 GMT+0

Brazil 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).

If data are not all visible, swipe table left
Residual
Maturity
Yield Spread vs Bond Spread vs
Central Bank
Rate (10.50%)
3 months 1 year 2 years 5 years
10 years 11.702% 120.2 bp
5 years 11.440%
94.0 bp
2 years 10.478%
-2.2 bp
1 year 10.569%
6.9 bp
3 months 10.597%
9.7 bp

Focusing on 2 years Government Bond:

If data are not all visible, swipe table left
2Y vs 1Y -9.1 bp Yield Curve is inverted in Short-Term Maturities
5Y vs 2Y 96.2 bp Normal Convexity in Mid-Term vs Short-Term Maturities
10Y vs 2Y 122.4 bp Normal Convexity in Long-Term vs Short-Term Maturities

Brazil 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 Brazil Credit Ratings History

Rating Agency Rating Outlook
Standard & Poor's BB -
Moody's Investors Service Ba2 positive
Fitch Ratings BB -
DBRS BB -

Brazil 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 10.50%

Brazil 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.

If data are not all visible, swipe table left
Credit Default Swap CDS Value Var % 1W Var % 1M Var % 1Y Implied PD(*)
5 Years CDS 140.40 -1.36 % -13.34 % -34.74 % 2.34 %
(*) Implied probability of default, calculated on the hypothesis of a 40% recovery rate.

Brazil 10Y Bond Yield Spread

The Brazil 10Y Government Bond has a 11.702% 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.
If data are not all visible, swipe table left
Brazil 10Y vs Current Spread Chg 1M Chg 6M Compare
Countries
vs Japan 10Y 1070.4 bp +16.5 bp +37.7 bp
vs China 10Y 938.4 bp +23.9 bp +100.8 bp
vs Germany 10Y 911.4 bp +27.5 bp +64.5 bp
vs France 10Y 862.3 bp +28.5 bp +71.8 bp
vs Spain 10Y 836.6 bp +31.7 bp +88.3 bp
vs Canada 10Y 805.1 bp +45.3 bp +70.5 bp
vs Italy 10Y 781.5 bp +34.0 bp +110.8 bp
vs United Kingdom 10Y 740.8 bp +31.2 bp +59.0 bp
vs Australia 10Y 733.9 bp +40.7 bp +78.4 bp
vs United States 10Y 722.9 bp +44.5 bp +60.2 bp
vs India 10Y 470.5 bp +46.3 bp +87.8 bp
vs Russia 10Y -273.8 bp +0.4 bp -180.2 bp

Brazil 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 11.702% 33.07 38.79 50.23 61.67 73.11 84.55
8 years 11.675% 41.34 46.36 56.41 66.46 76.51 86.56
5 years 11.440% 58.18 61.84 69.15 76.46 83.77 91.08
3 years 10.999% 73.12 75.56 80.45 85.34 90.23 95.11
2 years 10.478% 81.93 83.66 87.10 90.55 94.00 97.45
1 year 10.569% 90.44 91.35 93.15 94.96 96.77 98.58
Maturity Date 100.00 100.00 100.00 100.00 100.00 100.00

Back to Home Page - World Government Bonds