What Are German Bunds?
Redacción de Financial World News · Explicación educativa · Cómo obtenemos las rentabilidades
Bunds are federal German government bonds and the euro area’s benchmark safe asset.
El briefing completo de esta guía está en inglés. El título, el resumen y la navegación están en su idioma para que decida si sigue leyendo.
What Are German Bunds — the mechanics
When people say ‘the Bund’ they usually mean the 10-year German government yield. It is the rate other euro sovereigns are judged against. Schatz and Bobl are the shorter cousins.
Bunds are the Federal Republic’s coupon bonds, the euro area’s benchmark. When people say ‘European rates’, they often mean the 10-year bund.
Finanzagentur’s calendar of Schatz, Bobl, Bund and linkers is the supply. The ECB’s curve and foreign official buying are the demand.
A bund can yield less than inflation and still be the asset everyone needs as collateral. Yield is not a quality score.
Official sources (Germany — Bunds)
Primary statistics and prospectuses for Germany — Bunds are published by the issuer, not by this newsroom. The labelled links at the end of this page go to those official sites (DMO, TreasuryDirect, Finanzagentur, MEF, AFT, SNB or ECB as relevant).
Our live board is a teaching overlay: dated prints, named sources, estimated ISIN lines. It is not a replacement for the issuer’s calendar.
Puntos clave
- Bunds are the Federal Republic’s coupon bonds, the euro area’s benchmark.
- Prices and yields change. When this site quotes them, it dates them on the live board.
- Credit of a G7 government in its own currency is not the same as a stable screen price, and not the same as a bank deposit.
FAQ
- Is a Bund only 10 years?
- No. Bunds are issued across the curve, including 30-year lines. ‘The Bund’ in headlines is usually the 10-year.