COUNTRY • SUMMARY
GERMANY
Last Update: 8 Mar 2024 0:23 GMT+0
The Germany 10Y Government Bond has a 2.298% yield.
10 Years vs 2 Years bond spread is -52 bp.
Yield Curve is inverted in Long-Term vs Short-Term Maturities.
Central Bank Rate is 4.50% (last modification in September 2023).
The Germany credit rating is AAA, according to Standard & Poor's agency.
Current 5-Years Credit Default Swap quotation is 11.63 and implied probability of default is 0.19%.
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Germany 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 | ||||
| 1 month | 3.820% | -13.1 bp | +19.8 bp | 08 Mar | |||||
| 3 months | 3.751% | -3.9 bp | +11.4 bp | 08 Mar | |||||
| 6 months | 3.712% | +3.5 bp | +6.2 bp | 08 Mar | |||||
| 9 months | 3.577% | +6.1 bp | -5.9 bp | 08 Mar | |||||
| 1 year | 3.480% | +17.7 bp | -11.1 bp | 96.64 | -0.17 % | +0.11 % | 08 Mar | ||
| 2 years | 2.818% | +14.9 bp | -26.2 bp | 94.59 | -0.30 % | +0.51 % | 08 Mar | ||
| 3 years | 2.470% | +5.5 bp | -48.8 bp | 92.94 | -0.16 % | +1.43 % | 08 Mar | ||
| 4 years | 2.368% | +6.6 bp | -35.3 bp | 91.06 | -0.26 % | +1.38 % | 08 Mar | ||
| 5 years | 2.331% | +3.6 bp | -28.5 bp | 89.12 | -0.17 % | +1.40 % | 08 Mar | ||
| 6 years | 2.256% | +1.0 bp | -30.8 bp | 87.47 | -0.06 % | +1.82 % | 08 Mar | ||
| 7 years | 2.233% | -1.7 bp | -30.6 bp | 85.68 | +0.12 % | +2.12 % | 08 Mar | ||
| 8 years | 2.234% | -3.2 bp | -29.5 bp | 83.80 | +0.25 % | +2.33 % | 08 Mar | ||
| 9 years | 2.263% | -4.0 bp | -27.9 bp | 81.76 | +0.36 % | +2.48 % | 08 Mar | ||
| 10 years | 2.298% | -5.8 bp | -31.3 bp | 79.68 | +0.57 % | +3.11 % | 08 Mar | ||
| 15 years | 2.444% | -9.5 bp | -32.0 bp | 69.61 | +1.40 % | +4.79 % | 08 Mar | ||
| 20 years | 2.476% | -12.7 bp | -30.6 bp | 61.31 | +2.51 % | +6.15 % | 08 Mar | ||
| 25 years | 2.468% | -11.4 bp | -26.5 bp | 54.36 | +2.82 % | +6.67 % | 08 Mar | ||
| 30 years | 2.441% | -12.5 bp | -29.4 bp | 48.50 | +3.72 % | +8.96 % | 08 Mar | ||
| Last Update: 8 Mar 2024 0:23 GMT+0 | |||||||||
Germany 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 (4.50%) | |||||
|---|---|---|---|---|---|---|---|---|
| 3 months | 1 year | 2 years | 5 years | 10 years | ||||
| 30 years | 2.441% | -131.0 bp | -103.9 bp | -37.7 bp | 11.0 bp | 14.3 bp | -205.9 bp | |
| 10 years | 2.298% | -145.3 bp | -118.2 bp | -52.0 bp | -3.3 bp | -220.2 bp | ||
| 5 years | 2.331% | -142.0 bp | -114.9 bp | -48.7 bp | -216.9 bp | |||
| 2 years | 2.818% | -93.3 bp | -66.2 bp | -168.2 bp | ||||
| 1 year | 3.480% | -27.1 bp | -102.0 bp | |||||
| 3 months | 3.751% | -74.9 bp | ||||||
Focusing on 2 years Government Bond:
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| 2Y vs 1Y | -66.2 bp | Yield Curve is inverted in Short-Term Maturities | ||
| 5Y vs 2Y | -48.7 bp | Yield Curve is inverted in Mid-Term vs Short-Term Maturities | ||
| 10Y vs 2Y | -52 bp | Yield Curve is inverted in Long-Term vs Short-Term Maturities |
Readings that may interest you
Germany 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 Germany Credit Ratings History
| Rating Agency | Rating | Outlook |
|---|---|---|
| Standard & Poor's | AAA | - |
| Moody's Investors Service | Aaa | - |
| Fitch Ratings | AAA | - |
| DBRS | AAA | - |
Germany 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 | 4.50% |
Germany 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.
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| Credit Default Swap | CDS Value | Var % 1W | Var % 1M | Var % 1Y | Implied PD(*) | |
|---|---|---|---|---|---|---|
| 5 Years CDS | 11.63 | -0.14 % | -11.18 % | +53.36 % | 0.19 % | |
| (*) Implied probability of default, calculated on the hypothesis of a 40% recovery rate. |
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Germany 10Y Bond Yield Spread
The Germany 10Y Government Bond has a 2.298% 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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| Germany 10Y vs | Current Spread | Chg 1M | Chg 6M | Compare Countries | |
|---|---|---|---|---|---|
| vs Japan 10Y | 156.9 bp | -9.0 bp | -40.1 bp | ||
| vs China 10Y | -0.2 bp | +8.9 bp | +6.9 bp | ||
| vs France 10Y | -45.1 bp | +5.8 bp | +8.1 bp | ||
| vs Spain 10Y | -81.5 bp | +12.7 bp | +21.8 bp | ||
| vs Canada 10Y | -108.8 bp | +14.2 bp | +0.9 bp | ||
| vs Italy 10Y | -133.2 bp | +24.5 bp | +40.4 bp | ||
| vs United Kingdom 10Y | -171.1 bp | +3.2 bp | +10.1 bp | ||
| vs Australia 10Y | -172.3 bp | +7.3 bp | -21.1 bp | ||
| vs United States 10Y | -178.7 bp | +1.7 bp | -13.8 bp | ||
| vs India 10Y | -473.3 bp | -0.7 bp | -14.5 bp | ||
| vs Brazil 10Y | -838.5 bp | -5.1 bp | +30.6 bp | ||
| vs Russia 10Y | -1094.2 bp | -79.8 bp | -94.3 bp |
Germany 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 | ||||||
|---|---|---|---|---|---|---|---|---|---|
| 0% | 1% | 3% | 5% | 7% | 9% | ||||
| 30 years | 2.441% | 48.50 | 69.60 | 111.79 | 153.98 | 196.18 | 238.37 | ||
| 25 years | 2.468% | 54.36 | 72.85 | 109.84 | 146.82 | 183.81 | 220.79 | ||
| 20 years | 2.476% | 61.31 | 76.94 | 108.19 | 139.44 | 170.69 | 201.93 | ||
| 15 years | 2.444% | 69.61 | 82.05 | 106.91 | 131.78 | 156.64 | 181.51 | ||
| 10 years | 2.298% | 79.68 | 88.52 | 106.21 | 123.90 | 141.59 | 159.27 | ||
| 9 years | 2.263% | 81.76 | 89.82 | 105.94 | 122.06 | 138.18 | 154.31 | ||
| 8 years | 2.234% | 83.80 | 91.05 | 105.56 | 120.06 | 134.56 | 149.07 | ||
| 7 years | 2.233% | 85.68 | 92.09 | 104.92 | 117.75 | 130.58 | 143.41 | ||
| 6 years | 2.256% | 87.47 | 93.02 | 104.13 | 115.24 | 126.35 | 137.45 | ||
| 5 years | 2.331% | 89.12 | 93.79 | 103.12 | 112.46 | 121.80 | 131.13 | ||
| 4 years | 2.368% | 91.06 | 94.84 | 102.39 | 109.93 | 117.48 | 125.03 | ||
| 3 years | 2.470% | 92.94 | 95.80 | 101.51 | 107.23 | 112.95 | 118.66 | ||
| 2 years | 2.818% | 94.59 | 96.51 | 100.35 | 104.19 | 108.02 | 111.86 | ||
| 1 year | 3.480% | 96.64 | 97.60 | 99.54 | 101.47 | 103.40 | 105.33 | ||
| Maturity Date | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |||
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