Il-kurva ta' referenza tal-euro
Ġermanja — Bund
German 10-year bund (Maastricht): 3.19% sa August 2026 · ECB IRS long-term rate. Metodoloġija
Id-dejn federali Ġermaniż jinħareġ minn Finanzagentur bħala Schatz (madwar sentejn), Bobl (madwar ħamsa), Bund (għaxra u tletin) u linji marbuta mal-inflazzjoni. Il-Bund ta' 10 snin huwa r-referenza mingħajr riskju taż-żona tal-euro; sovrani euro oħra jinnegozjaw bħala spread lejh.
Rendimenti Bund negattivi seħħew fis-snin 2010. Il-kupun mhuwiex rendiment: Bund mixtri f'140 xorta jista' jkun kreditu 'sigur' u redditu fqir sal-maturità.
Nuru r-rata Ġermaniża fit-tul tal-ECB (kull xahar) u l-spot AAA ta' 10 snin tal-ECB (kuljum) biex tara kemm l-istampa nazzjonali kif ukoll il-kurva super-sovrana.
- 1What Are German Bunds?Bunds are federal German government bonds and the euro area’s benchmark safe asset.
- 2How Do German Government Bonds Work?Issued by Finanzagentur, traded with high liquidity, paying euro coupons and par at maturity.
- 3German Bund Yields ExplainedThe bund curve is the euro risk-free reference. Spreads of OATs, BTPs and others are quoted versus bunds.
- 4Bunds vs US TreasuriesEUR versus USD duration. Policy, inflation and who holds the bonds differ more than the word ‘safe’.
- 5Bunds vs UK GiltsEuro core versus sterling sovereign. FX, BoE vs ECB, and UK pension demand for long gilts.
- 6What Are German Schatz Bonds?Schatz (Bundesschatzanweisungen) are short German government notes, typically around two years.
- 7What Are German Bobl Bonds?Bobls (Bundesobligationen) are medium-term German federal bonds, typically five years.
- 8How to Buy German Government BondsBanks, brokers and euro government-bond ETFs. Primary auctions are dealer-dominated; secondary access is straightforward for retail in the EU.
- 9German Government Bond Auctions ExplainedFinanzagentur runs a transparent calendar. Bunds can also be tapped via syndication for very long or linker lines.
- 10Are German Bunds Safe?Bunds are widely treated as the euro area’s premier credit. Price risk remains if yields rise.