India Government Bonds - Yields Curve

COUNTRY • SUMMARY
INDIA
Last Update: 17 Jul 2024 2:15 GMT+0

The India 10-Year Government Bond currently offers a yield of 6.966%. 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 India 10-Year and 2-Year government bonds is 7.5 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: Yield Curve is flat in Long-Term vs Short-Term Maturities.

India Central Bank Rate stands at 6.50%, following the most recent adjustment in February 2023.

According to Standard & Poor's agency, the India credit rating is BBB-.

The current quotation for India 5-Years Credit Default Swap is 84.11 basis points. Correspondingly, the implied probability of default is 1.40%.

Table of contents
The first official book of
Build wealth
with Lazy Portfolios and Passive Investing
Set your goal
Use top metrics to evaluate
Choose Bond ETFs to control risk
Join the passive investing strategy
Exclusive new asset allocations in EUR and USD

India 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 6.760% -9.0 bp -19.0 bp 16 Jul
6 months 6.880% -11.0 bp -27.0 bp 16 Jul
1 year 6.895% -9.0 bp -20.6 bp 93.55 +0.09 % +0.19 % 16 Jul
2 years 6.891% -8.4 bp -13.4 bp 87.52 +0.16 % +0.25 % 16 Jul
3 years 6.903% -9.0 bp -14.1 bp 81.85 +0.24 % +0.39 % 16 Jul
4 years 6.916% -8.2 bp -13.9 bp 76.53 +0.30 % +0.53 % 16 Jul
5 years 6.935% -6.9 bp -10.4 bp 71.52 +0.32 % +0.49 % 16 Jul
6 years 6.918% -6.5 bp -19.6 bp 66.94 +0.36 % +1.10 % 16 Jul
7 years 6.959% -8.1 bp -10.0 bp 62.44 +0.53 % +0.64 % 16 Jul
8 years 7.007% -4.5 bp -16.6 bp 58.17 +0.33 % +1.25 % 16 Jul
9 years 7.009% -3.1 bp -18.2 bp 54.35 +0.26 % +1.53 % 16 Jul
10 years 6.966% -1.8 bp -19.7 bp 51.00 +0.18 % +1.86 % 16 Jul
11 years 7.046% -0.9 bp -20.2 bp 47.29 +0.11 % +2.12 % 16 Jul
12 years 7.013% -3.1 bp -25.6 bp 44.34 +0.36 % +2.92 % 16 Jul
13 years 7.017% -3.4 bp -23.3 bp 41.41 +0.41 % +2.86 % 16 Jul
14 years 7.042% +0.1 bp -22.9 bp 38.57 0.00 % +3.05 % 16 Jul
15 years 7.002% -2.4 bp -27.9 bp 36.23 +0.33 % +3.96 % 16 Jul
19 years 7.044% -3.5 bp -26.7 bp 27.44 +0.62 % +4.85 % 16 Jul
24 years 7.045% -3.4 bp -26.2 bp 19.52 +0.77 % +6.09 % 16 Jul
30 years 7.051% -3.7 bp -31.7 bp 12.95 +1.01 % +9.28 % 16 Jul
40 years 7.083% -2.4 bp -29.0 bp 6.47 +0.78 % +11.36 % 16 Jul
Last Update: 17 Jul 2024 2:15 GMT+0

India 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 (6.50%)
3 months 1 year 2 years 5 years 10 years
30 years 7.051% 55.1 bp
10 years 6.966%
46.6 bp
5 years 6.935%
43.5 bp
2 years 6.891%
39.1 bp
1 year 6.895%
39.5 bp
3 months 6.760%
26.0 bp

Focusing on 2 years Government Bond:

If data are not all visible, swipe table left
2Y vs 1Y -0.4 bp Yield Curve is inverted in Short-Term Maturities
5Y vs 2Y 4.4 bp Yield Curve is flat in Mid-Term vs Short-Term Maturities
10Y vs 2Y 7.5 bp Yield Curve is flat in Long-Term vs Short-Term Maturities

India 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 India Credit Ratings History

Rating Agency Rating Outlook
Standard & Poor's BBB- positive
Moody's Investors Service Baa3 -
Fitch Ratings BBB- -
DBRS BBB (low) positive

India 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 6.50%

India 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 84.11 +0.02 % +0.13 % +2.94 % 1.40 %
(*) Implied probability of default, calculated on the hypothesis of a 40% recovery rate.
The first official book of
Build wealth
with Lazy Portfolios and Passive Investing

India 10Y Bond Yield Spread

The India 10Y Government Bond has a 6.966% 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
India 10Y vs Current Spread Chg 1M Chg 6M Compare
Countries
vs Japan 10Y 593.1 bp -12.6 bp -63.4 bp
vs China 10Y 469.9 bp -1.1 bp +5.9 bp
vs Germany 10Y 454.5 bp -2.7 bp -33.5 bp
vs France 10Y 389.0 bp +7.0 bp -45.2 bp
vs Spain 10Y 377.3 bp +14.2 bp -14.0 bp
vs Canada 10Y 359.2 bp -5.2 bp -10.1 bp
vs Italy 10Y 325.2 bp +20.3 bp +0.7 bp
vs United Kingdom 10Y 289.2 bp +2.0 bp -25.3 bp
vs United States 10Y 281.8 bp +11.0 bp -23.8 bp
vs Australia 10Y 269.1 bp -10.5 bp -18.4 bp
vs Brazil 10Y -488.9 bp +15.7 bp -137.0 bp
vs Russia 10Y -898.2 bp -83.6 bp -390.0 bp

India 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%
40 years 7.083% 6.47 19.68 46.09 72.50 98.90 125.31
30 years 7.051% 12.95 25.30 49.99 74.68 99.37 124.06
24 years 7.045% 19.52 30.94 53.79 76.64 99.49 122.33
19 years 7.044% 27.44 37.74 58.34 78.94 99.55 120.15
15 years 7.002% 36.23 45.34 63.55 81.77 99.98 118.20
14 years 7.042% 38.57 47.29 64.74 82.19 99.63 117.08
13 years 7.017% 41.41 49.76 66.46 83.16 99.86 116.56
12 years 7.013% 44.34 52.27 68.15 84.02 99.90 115.77
11 years 7.046% 47.29 54.77 69.73 84.69 99.66 114.62
10 years 6.966% 51.00 58.03 72.10 86.17 100.24 114.31
9 years 7.009% 54.35 60.86 73.89 86.92 99.94 112.97
8 years 7.007% 58.17 64.14 76.08 88.02 99.96 111.90
7 years 6.959% 62.44 67.84 78.63 89.43 100.22 111.02
6 years 6.918% 66.94 71.72 81.28 90.83 100.39 109.95
5 years 6.935% 71.52 75.62 83.84 92.05 100.27 108.48
4 years 6.916% 76.53 79.92 86.71 93.50 100.29 107.07
3 years 6.903% 81.85 84.48 89.74 95.00 100.26 105.51
2 years 6.891% 87.52 89.33 92.95 96.58 100.20 103.82
1 year 6.895% 93.55 94.49 96.36 98.23 100.10 101.97
Maturity Date 100.00 100.00 100.00 100.00 100.00 100.00

Back to Home Page - World Government Bonds

The first official book of
Build wealth
with Lazy Portfolios and Passive Investing