The Turkey 10Y Government Bond has a 28.110% yield.
10 Years vs 2 Years bond spread is -1273 bp.
Yield Curve is inverted in Long-Term vs Short-Term Maturities.
Central Bank Rate is 40.00% (last modification in November 2023).
The Turkey credit rating is B, according to Standard & Poor's agency.
Current 5-Years Credit Default Swap quotation is 332.58 and implied probability of default is 5.54%.
Turkey Yield Curve
| Residual Maturity |
Yield | ZC Price | Last Change |
||||||
|---|---|---|---|---|---|---|---|---|---|
| Last | Chg 1M | Chg 6M | Last | Chg 1M | Chg 6M | ||||
| 3 months | 39.311% | +1683.7 bp | +2381.4 bp | 28 Nov | |||||
| 6 months | 39.521% | +1467.4 bp | +2120.9 bp | 28 Nov | |||||
| 9 months | 39.736% | +1119.4 bp | +2404.0 bp | 28 Nov | |||||
| 2 years | 40.840% | +610.0 bp | +3023.5 bp | 50.41 | -8.48 % | -38.33 % | 28 Nov | ||
| 3 years | 34.540% | +117.5 bp | +2360.0 bp | 41.06 | -2.61 % | -43.94 % | 28 Nov | ||
| 5 years | 31.600% | -42.5 bp | +2197.0 bp | 25.33 | +1.60 % | -59.89 % | 28 Nov | ||
| 10 years | 28.110% | -30.5 bp | +1893.5 bp | 8.40 | +2.44 % | -79.79 % | 28 Nov | ||
| Last Update: 28 Nov 2023 18:15 GMT+0 | |||||||||
Turkey 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 (40.00%) |
|||
|---|---|---|---|---|---|---|
| 3 months | 2 years | 5 years | ||||
| 10 years | 28.110% | -1189.0 bp | ||||
| 5 years | 31.600% | -840.0 bp | ||||
| 2 years | 40.840% | 84.0 bp | ||||
| 3 months | 39.311% | -68.9 bp | ||||
Focusing on 2 years Government Bond:
| 5Y vs 2Y | -924 bp | Yield Curve is inverted in Mid-Term vs Short-Term Maturities | ||
| 10Y vs 2Y | -1273 bp | Yield Curve is inverted in Long-Term vs Short-Term Maturities |
Turkey 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 Turkey Credit Ratings History
| Rating Agency | Rating | Outlook |
|---|---|---|
| Standard & Poor's | B | - |
| Moody's Investors Service | B3 | - |
| Fitch Ratings | B | negative |
| DBRS | BB (high) | negative |
Turkey 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 | 40.00% |
Turkey 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.
| Credit Default Swap | CDS Value | Var % 1W | Var % 1M | Var % 1Y | Implied PD(*) | |
|---|---|---|---|---|---|---|
| 5 Years CDS | 332.58 | -1.90 % | -19.70 % | -37.06 % | 5.54 % | |
| (*) Implied probability of default, calculated on the hypothesis of a 40% recovery rate. |
Turkey 10Y Bond Yield Spread
The Turkey 10Y Government Bond has a 28.110% 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.
| Turkey 10Y vs | Current Spread | Chg 1M | Chg 6M | Compare Countries |
|
|---|---|---|---|---|---|
| vs Japan 10Y | 2735.7 bp | -18.4 bp | +1859.7 bp | ||
| vs Germany 10Y | 2560.5 bp | +0.4 bp | +1896.5 bp | ||
| vs China 10Y | 2540.5 bp | -27.5 bp | +1896.4 bp | ||
| vs France 10Y | 2503.8 bp | +6.3 bp | +1896.2 bp | ||
| vs Spain 10Y | 2460.1 bp | +9.5 bp | +1900.2 bp | ||
| vs Canada 10Y | 2446.2 bp | +6.5 bp | +1864.6 bp | ||
| vs United Kingdom 10Y | 2388.8 bp | +3.5 bp | +1904.1 bp | ||
| vs Italy 10Y | 2384.5 bp | +26.9 bp | +1903.9 bp | ||
| vs United States 10Y | 2374.5 bp | +17.5 bp | +1838.2 bp | ||
| vs Australia 10Y | 2364.5 bp | +4.7 bp | +1819.4 bp | ||
| vs India 10Y | 2083.7 bp | -22.7 bp | +1866.5 bp | ||
| vs Brazil 10Y | 1713.8 bp | +44.4 bp | +1957.9 bp | ||
| vs Russia 10Y | 1604.0 bp | +11.5 bp | +1756.5 bp |
Turkey 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% | ||||
| 10 years | 28.110% | 8.40 | 11.66 | 18.17 | 24.69 | 31.21 | 37.73 | ||
| 5 years | 31.600% | 25.33 | 27.70 | 32.42 | 37.15 | 41.87 | 46.60 | ||
| 3 years | 34.540% | 41.06 | 42.77 | 46.18 | 49.59 | 53.01 | 56.42 | ||
| 2 years | 40.840% | 50.41 | 51.63 | 54.06 | 56.48 | 58.91 | 61.34 | ||
| Maturity Date | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |||
