Serbia Government Bonds - Yields Curve

COUNTRY • SUMMARY
SERBIA
Last Update: 28 Nov 2023 15:15 GMT+0

The Serbia 10Y Government Bond has a 6.606% yield.

10 Years vs 2 Years bond spread is 159.4 bp.
Normal Convexity in Long-Term vs Short-Term Maturities.

Central Bank Rate is 6.50% (last modification in July 2023).

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

Table of contents

Serbia Yield Curve

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Residual
Maturity
Yield ZC Price Last
Change
Last Chg 1M Chg 6M Last Chg 1M Chg 6M
1 year 5.600% +0.2 bp +39.3 bp 94.70 0.00 % -0.37 % 28 Nov
2 years 5.012% +11.0 bp -17.8 bp 90.68 -0.21 % +0.33 % 28 Nov
3 years 5.400% 0.0 bp +17.3 bp 85.40 0.00 % -0.50 % 28 Nov
5 years 5.420% -1.0 bp -4.0 bp 76.80 +0.04 % +0.18 % 27 Nov
10 years 6.606% 0.0 bp +27.0 bp 52.75 0.00 % -2.50 % 28 Nov
Last Update: 28 Nov 2023 15:15 GMT+0

Serbia 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%)
1 year 2 years 5 years
10 years 6.606% 10.6 bp
5 years 5.420%
-108.0 bp
2 years 5.012%
-148.8 bp
1 year 5.600%
-90.0 bp

Focusing on 2 years Government Bond:

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2Y vs 1Y -58.8 bp Yield Curve is inverted in Short-Term Maturities
5Y vs 2Y 40.8 bp Normal Convexity in Mid-Term vs Short-Term Maturities
10Y vs 2Y 159.4 bp Normal Convexity in Long-Term vs Short-Term Maturities

Serbia 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 Serbia Credit Ratings History

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

Serbia 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%

Serbia 10Y Bond Yield Spread

The Serbia 10Y Government Bond has a 6.606% 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
Serbia 10Y vs Current Spread Chg 1M Chg 6M Compare
Countries
vs Japan 10Y 585.3 bp +12.1 bp -6.8 bp
vs Germany 10Y 410.1 bp +30.9 bp +30.0 bp
vs China 10Y 390.1 bp +3.0 bp +29.9 bp
vs France 10Y 353.4 bp +36.8 bp +29.7 bp
vs Spain 10Y 309.7 bp +40.0 bp +33.7 bp
vs Canada 10Y 295.8 bp +37.0 bp -1.9 bp
vs United Kingdom 10Y 238.4 bp +34.0 bp +37.6 bp
vs Italy 10Y 234.1 bp +57.4 bp +37.4 bp
vs United States 10Y 224.1 bp +48.0 bp -28.3 bp
vs Australia 10Y 214.1 bp +35.2 bp -47.1 bp
vs India 10Y -66.7 bp +7.8 bp 0.0 bp
vs Brazil 10Y -436.6 bp +74.9 bp +91.4 bp
vs Russia 10Y -546.4 bp +42.0 bp -110.0 bp

Serbia 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 6.606% 52.75 59.90 74.21 88.51 102.82 117.13
5 years 5.420% 76.80 81.08 89.64 98.20 106.76 115.32
3 years 5.400% 85.40 88.11 93.51 98.92 104.32 109.73
2 years 5.012% 90.68 92.54 96.26 99.98 103.70 107.41
1 year 5.600% 94.70 95.64 97.54 99.43 101.33 103.22
Maturity Date 100.00 100.00 100.00 100.00 100.00 100.00

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