Zambia Government Bonds

COUNTRY • SUMMARY

ZAMBIA

Last Update: 10 Dec 2023 0:15 GMT+0

The Zambia 10Y Government Bond has a 26.020% yield.

10 Years vs 2 Years bond spread is 1223.7 bp.
Normal Convexity in Long-Term vs Short-Term Maturities.

Central Bank Rate is 11.00% (last modification in November 2023).

The Zambia credit rating is SD, according to Standard & Poor's agency.

Table of contents

Zambia Yield Curve

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	Residual Maturity	Yield			ZC Price			Last Change
	Residual Maturity	Last	Chg 1M	Chg 6M	Last	Chg 1M	Chg 6M	Last Change
	6 months	12.454%	-1.7 bp	-182.4 bp				08 Dec
	9 months	12.569%	-48.1 bp	-305.3 bp				08 Dec
	1 year	14.215%	-124.8 bp	-279.6 bp	87.55	+1.09 %	+2.45 %	08 Dec
	2 years	13.783%	-90.5 bp	-558.4 bp	77.24	+1.59 %	+10.06 %	08 Dec
	3 years	18.552%	-7.8 bp	-390.7 bp	60.02	+0.20 %	+10.23 %	08 Dec
	5 years	23.637%	+48.0 bp	-284.9 bp	34.61	-1.93 %	+12.04 %	08 Dec
	7 years	24.528%	+24.4 bp	-370.3 bp	21.53	-1.37 %	+22.75 %	08 Dec
	10 years	26.020%	-2.0 bp	-428.0 bp	9.90	+0.20 %	+39.63 %	10 Dec
	15 years	27.613%	+35.5 bp	-313.7 bp	2.58	-4.09 %	+44.13 %	08 Dec
Last Update: 10 Dec 2023 0:15 GMT+0

Zambia 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).

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Residual Maturity	Yield	Spread vs Bond			Spread vs Central Bank Rate (11.00%)
Residual Maturity	Yield	1 year	2 years	5 years	Spread vs Central Bank Rate (11.00%)
10 years	26.020%	1180.5 bp	1223.7 bp	238.3 bp	1502.0 bp
5 years	23.637%	942.2 bp	985.4 bp		1263.7 bp
2 years	13.783%	-43.2 bp			278.3 bp
1 year	14.215%				321.5 bp

Focusing on 2 years Government Bond:

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2Y vs 1Y	-43.2 bp	Yield Curve is inverted in Short-Term Maturities
5Y vs 2Y	985.4 bp	Normal Convexity in Mid-Term vs Short-Term Maturities
10Y vs 2Y	1223.7 bp	Normal Convexity in Long-Term vs Short-Term Maturities

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Zambia 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 Zambia Credit Ratings History

Rating Agency	Rating	Outlook
Standard & Poor's	SD	-
Moody's Investors Service	Ca	-
Fitch Ratings	RD	-
DBRS	-	-

Zambia 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	11.00%

Zambia 10Y Bond Yield Spread

The Zambia 10Y Government Bond has a 26.020% 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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Zambia 10Y vs	Current Spread	Chg 1M	Chg 6M
vs Japan 10Y	2525.3 bp	+5.5 bp	-462.3 bp
vs Germany 10Y	2375.8 bp	+43.1 bp	-416.7 bp
vs China 10Y	2332.2 bp	-5.3 bp	-427.4 bp
vs France 10Y	2320.3 bp	+46.0 bp	-418.0 bp
vs Spain 10Y	2274.1 bp	+46.6 bp	-420.6 bp
vs Canada 10Y	2261.9 bp	+45.3 bp	-428.0 bp
vs United Kingdom 10Y	2199.6 bp	+28.6 bp	-406.2 bp
vs Italy 10Y	2196.5 bp	+50.3 bp	-422.0 bp
vs United States 10Y	2179.1 bp	+37.8 bp	-476.6 bp
vs Australia 10Y	2166.6 bp	+25.8 bp	-469.5 bp
vs India 10Y	1875.4 bp	+1.4 bp	-450.7 bp
vs Brazil 10Y	1507.9 bp	+39.0 bp	-405.4 bp
vs Russia 10Y	1365.0 bp	-55.0 bp	-580.0 bp

Zambia 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
Residual Maturity	Yield	0%	1%	3%	5%	7%	9%	Fx
15 years	27.613%	2.58	6.11	13.16	20.22	27.28	34.33
10 years	26.020%	9.90	13.36	20.29	27.21	34.14	41.06
7 years	24.528%	21.53	24.73	31.13	37.53	43.93	50.33
5 years	23.637%	34.61	37.38	42.91	48.45	53.98	59.51
3 years	18.552%	60.02	62.17	66.48	70.79	75.10	79.41
2 years	13.783%	77.24	78.89	82.19	85.50	88.80	92.10
1 year	14.215%	87.55	88.43	90.18	91.93	93.68	95.43
Maturity Date		100.00	100.00	100.00	100.00	100.00	100.00

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