COUNTRY • SUMMARY
SPAIN
Last Update: 12 Mar 2024 21:15 GMT+0
The Spain 10Y Government Bond has a 3.131% yield.
10 Years vs 2 Years bond spread is 13.6 bp.
Yield Curve is flat in Long-Term vs Short-Term Maturities.
Central Bank Rate is 4.50% (last modification in September 2023).
The Spain credit rating is A, according to Standard & Poor's agency.
Current 5-Years Credit Default Swap quotation is 37.28 and implied probability of default is 0.62%.
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Spain 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 | 3.839% | -11.6 bp | +25.2 bp | 12 Mar | |||||
| 3 months | 3.686% | -10.3 bp | +18.6 bp | 12 Mar | |||||
| 6 months | 3.742% | +5.8 bp | -695.4 bp | 12 Mar | |||||
| 9 months | 3.617% | +10.6 bp | -20.2 bp | 12 Mar | |||||
| 1 year | 3.503% | +12.3 bp | -27.9 bp | 96.62 | -0.11 % | +0.27 % | 12 Mar | ||
| 2 years | 2.995% | +6.7 bp | -56.5 bp | 94.27 | -0.13 % | +1.10 % | 12 Mar | ||
| 3 years | 2.891% | +0.4 bp | -53.5 bp | 91.81 | -0.01 % | +1.57 % | 12 Mar | ||
| 4 years | 2.783% | -12.8 bp | -59.5 bp | 89.60 | +0.49 % | +2.33 % | 12 Mar | ||
| 5 years | 2.812% | -11.6 bp | -57.7 bp | 87.05 | +0.57 % | +2.84 % | 12 Mar | ||
| 6 years | 2.829% | -13.0 bp | -57.5 bp | 84.59 | +0.76 % | +3.41 % | 12 Mar | ||
| 7 years | 2.888% | -16.9 bp | -56.9 bp | 81.93 | +1.16 % | +3.93 % | 12 Mar | ||
| 8 years | 2.947% | -20.1 bp | -60.2 bp | 79.27 | +1.58 % | +4.79 % | 12 Mar | ||
| 9 years | 3.040% | -17.2 bp | -54.9 bp | 76.37 | +1.50 % | +4.89 % | 12 Mar | ||
| 10 years | 3.131% | -17.9 bp | -56.5 bp | 73.47 | +1.74 % | +5.62 % | 12 Mar | ||
| 15 years | 3.472% | -19.9 bp | -45.1 bp | 59.93 | +2.92 % | +6.73 % | 12 Mar | ||
| 20 years | 3.593% | -20.2 bp | -50.0 bp | 49.36 | +3.96 % | +10.10 % | 12 Mar | ||
| 25 years | 3.616% | -24.9 bp | -51.9 bp | 41.15 | +6.19 % | +13.33 % | 12 Mar | ||
| 30 years | 3.769% | -24.9 bp | -43.8 bp | 32.96 | +7.47 % | +13.46 % | 12 Mar | ||
| Last Update: 12 Mar 2024 21:15 GMT+0 | |||||||||
Spain 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 | 3.769% | 8.3 bp | 26.6 bp | 77.4 bp | 95.7 bp | 63.8 bp | -73.1 bp | |
| 10 years | 3.131% | -55.5 bp | -37.2 bp | 13.6 bp | 31.9 bp | -136.9 bp | ||
| 5 years | 2.812% | -87.4 bp | -69.1 bp | -18.3 bp | -168.8 bp | |||
| 2 years | 2.995% | -69.1 bp | -50.8 bp | -150.5 bp | ||||
| 1 year | 3.503% | -18.3 bp | -99.7 bp | |||||
| 3 months | 3.686% | -81.4 bp | ||||||
Focusing on 2 years Government Bond:
If data are not all visible, swipe table left
| 2Y vs 1Y | -50.8 bp | Yield Curve is inverted in Short-Term Maturities | ||
| 5Y vs 2Y | -18.3 bp | Yield Curve is inverted in Mid-Term vs Short-Term Maturities | ||
| 10Y vs 2Y | 13.6 bp | Yield Curve is flat in Long-Term vs Short-Term Maturities |
Readings that may interest you
Spain 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 Spain Credit Ratings History
| Rating Agency | Rating | Outlook |
|---|---|---|
| Standard & Poor's | A | - |
| Moody's Investors Service | Baa1 | - |
| Fitch Ratings | A- | - |
| DBRS | A | - |
Spain 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% |
Spain 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 | 37.28 | -6.45 % | -12.88 % | -17.70 % | 0.62 % | |
| (*) Implied probability of default, calculated on the hypothesis of a 40% recovery rate. |
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Spain 10Y Bond Yield Spread
The Spain 10Y Government Bond has a 3.131% 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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| Spain 10Y vs | Current Spread | Chg 1M | Chg 6M | Compare Countries | |
|---|---|---|---|---|---|
| vs Japan 10Y | 237.1 bp | -21.9 bp | -63.1 bp | ||
| vs Germany 10Y | 80.8 bp | -14.7 bp | -24.5 bp | ||
| vs China 10Y | 77.2 bp | -9.1 bp | -25.4 bp | ||
| vs France 10Y | 35.7 bp | -9.8 bp | -16.0 bp | ||
| vs Canada 10Y | -28.7 bp | +0.8 bp | -26.0 bp | ||
| vs Italy 10Y | -47.3 bp | +12.1 bp | +23.9 bp | ||
| vs United Kingdom 10Y | -84.8 bp | -9.8 bp | -7.7 bp | ||
| vs Australia 10Y | -86.8 bp | +1.6 bp | -39.5 bp | ||
| vs United States 10Y | -102.0 bp | -15.7 bp | -42.8 bp | ||
| vs India 10Y | -389.5 bp | -10.8 bp | -38.8 bp | ||
| vs Brazil 10Y | -757.9 bp | -13.9 bp | -7.8 bp | ||
| vs Russia 10Y | -1014.9 bp | -98.9 bp | -150.5 bp |
Spain 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% | ||||
| 30 years | 3.769% | 32.96 | 50.75 | 86.32 | 121.90 | 157.47 | 193.05 | ||
| 25 years | 3.616% | 41.15 | 57.42 | 89.97 | 122.53 | 155.08 | 187.63 | ||
| 20 years | 3.593% | 49.36 | 63.46 | 91.64 | 119.83 | 148.02 | 176.20 | ||
| 15 years | 3.472% | 59.93 | 71.47 | 94.55 | 117.63 | 140.71 | 163.80 | ||
| 10 years | 3.131% | 73.47 | 81.94 | 98.89 | 115.84 | 132.78 | 149.73 | ||
| 9 years | 3.040% | 76.37 | 84.15 | 99.69 | 115.23 | 130.78 | 146.32 | ||
| 8 years | 2.947% | 79.27 | 86.30 | 100.37 | 114.44 | 128.51 | 142.59 | ||
| 7 years | 2.888% | 81.93 | 88.19 | 100.70 | 113.21 | 125.73 | 138.24 | ||
| 6 years | 2.829% | 84.59 | 90.04 | 100.93 | 111.83 | 122.72 | 133.62 | ||
| 5 years | 2.812% | 87.05 | 91.66 | 100.87 | 110.07 | 119.28 | 128.49 | ||
| 4 years | 2.783% | 89.60 | 93.34 | 100.81 | 108.28 | 115.76 | 123.23 | ||
| 3 years | 2.891% | 91.81 | 94.64 | 100.31 | 105.98 | 111.65 | 117.32 | ||
| 2 years | 2.995% | 94.27 | 96.18 | 100.01 | 103.84 | 107.66 | 111.49 | ||
| 1 year | 3.503% | 96.62 | 97.58 | 99.51 | 101.45 | 103.38 | 105.31 | ||
| Maturity Date | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |||
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