Major 10Y Yield Day Q4/20 Q1/21 Q2/21 Q3/21
US 0.86 0.03 0.03% 0.85 0.88 0.90 0.93
UK 0.32 0.02 0.02% 0.33 0.35 0.38 0.41
Japan 0.01 0.01 -0.01% 0.01 0.01 0.01 0.01
Germany -0.58 0.00 0.00% 0.06 0.12 0.19 0.27
France -0.35 0.00 0.00% 0.03 0.07 0.11 0.16
Netherlands -0.50 0.07 0.07% 0.05 0.11 0.17 0.23
Switzerland -0.42 0.07 0.07% 0.05 0.10 0.16 0.23
New Zealand 0.83 0.01 -0.01% 0.86 0.89 0.92 0.95
India 5.90 0.03 0.02% 5.93 5.99 6.05 6.10
Mexico 5.66 0.03 0.03% 5.69 5.75 5.81 5.87
Spain 0.07 0.00 0.00% 0.11 0.12 0.13 0.14
Portugal 0.03 0.00 0.01% 0.03 0.04 0.04 0.04
Greece 0.67 0.04 -0.04% 0.97 1.01 1.06 1.10
Italy 0.59 0.01 -0.01% 0.66 0.70 0.74 0.78
Canada 0.69 0.04 0.04% 0.68 0.71 0.74 0.77
Australia 0.88 0.01 0.01% 0.89 0.93 0.97 1.01
Brazil 7.78 0.02 0.04% 7.89 8.00 8.10 8.21

United States Yield Day Q4/20 Q1/21 Q2/21 Q3/21
US 0.86 0.03 0.03% 0.85 0.88 0.90 0.93
US 1M 0.08 0.00 0.00% 0.08 0.08 0.08 0.08
US 3M 0.08 0.01 0.01% 0.07 0.07 0.07 0.08
US 6M 0.09 0.01 -0.01% 0.09 0.09 0.10 0.10
US 52W 0.10 0.00 0.00% 0.11 0.11 0.11 0.11
US 2Y 0.17 0.00 0.00% 0.17 0.17 0.18 0.18
US 3Y 0.22 0.01 0.01% 0.22 0.22 0.23 0.24
US 5Y 0.39 0.01 0.01% 0.39 0.40 0.41 0.43
US 7Y 0.63 0.02 0.02% 0.63 0.65 0.67 0.69
US 20Y 1.47 0.04 0.04% 1.47 1.51 1.54 1.58
US 30Y 1.56 0.03 0.03% 1.55 1.59 1.63 1.67

Europe Yield Day Q4/20 Q1/21 Q2/21 Q3/21
UK 0.32 0.02 0.02% 0.33 0.35 0.38 0.41
UK 1M -0.07 0.01 -0.01% 0.00 0.01 0.01 0.01
UK 3M 0.00 0.00 0.00% 0.00 0.00 0.00 0.00
UK 6M -0.08 0.00 0.00% 0.00 0.01 0.01 0.01
UK 52W -0.03 0.01 -0.01% 0.00 0.00 0.01 0.01
UK 3Y -0.03 0.02 0.02% 0.00 0.01 0.01 0.02
UK 5Y 0.00 0.00 0.00% 0.00 0.00 0.00 0.00
UK 7Y 0.12 0.02 0.02% 0.12 0.13 0.14 0.15
UK 20Y 0.85 0.01 0.01% 0.88 0.92 0.97 1.01
UK 30Y 0.90 0.01 0.01% 0.93 0.97 1.01 1.05
Germany -0.58 0.00 0.00% 0.06 0.12 0.19 0.27
Germany 3M -0.69 0.01 -0.01% 0.03 0.07 0.11 0.15
Germany 6M -0.67 0.00 0.00% 0.03 0.07 0.10 0.14
Germany 52W -0.67 0.00 0.00% 0.02 0.05 0.07 0.10
Germany 2Y -0.76 0.00 0.00% 0.02 0.05 0.07 0.10
Germany 3Y -0.80 0.01 -0.01% 0.03 0.05 0.08 0.11
Germany 5Y -0.76 0.00 0.00% 0.04 0.08 0.13 0.17
Germany 7Y -0.70 0.00 0.00% 0.06 0.13 0.20 0.28
Germany 30Y -0.18 0.00 0.00% 0.02 0.04 0.06 0.08
Italy 1M -0.49 0.02 -0.02% 0.05 0.10 0.16 0.23
Italy 52W -0.47 0.01 -0.01% 0.05 0.10 0.15 0.21
Italy 2Y -0.45 0.01 -0.01% 0.05 0.09 0.15 0.21
Italy 3M -0.51 0.00 0.00% 0.05 0.11 0.17 0.24
Italy 3Y -0.36 0.00 0.00% 0.04 0.08 0.12 0.17
Italy 5Y -0.04 0.00 0.00% 0.00 0.01 0.01 0.02
Bulgaria 0.40 0.00 0.00% 0.42 0.45 0.47 0.50
Latvia 0.55 0.00 0.00% 0.55 0.55 0.55 0.55
Lithuania 0.05 0.00 0.00% 0.06 0.06 0.06 0.07
Slovakia -0.33 0.01 -0.01% 0.03 0.07 0.11 0.15
Slovenia -0.12 0.01 0.01% 0.01 0.03 0.04 0.06
Iceland 3.07 0.05 0.05% 3.13 3.18 3.24 3.30
Romania 3.35 0.02 -0.02% 3.40 3.46 3.51 3.57
Turkey 11.57 0.25 -0.25% 11.87 12.18 12.50 12.83
Croatia 0.82 0.00 0.00% 0.85 0.89 0.92 0.96
Austria -0.44 0.00 0.00% 0.04 0.09 0.14 0.20
Belgium -0.39 0.00 0.00% 0.04 0.08 0.13 0.18
France -0.35 0.00 0.00% 0.03 0.07 0.11 0.16
France 1M 0.05 0.70 0.70% 0.05 0.06 0.06 0.06
France 52W -0.60 0.01 0.01% 0.02 0.05 0.07 0.10
France 2Y -0.70 0.01 -0.01% 0.02 0.05 0.07 0.10
France 3M -0.58 0.04 0.04% 0.02 0.04 0.07 0.09
France 3Y -0.71 0.01 -0.01% 0.03 0.06 0.09 0.12
France 5Y -0.68 0.00 0.00% 0.07 0.14 0.22 0.31
France 6M -0.61 0.00 0.00% 0.02 0.04 0.06 0.08
France 7Y -0.58 0.00 0.00% 0.06 0.12 0.19 0.27
Greece 1M -0.25 0.25 0.00% 0.36 0.40 0.44 0.48
Greece 3M -0.11 0.16 0.16% 0.03 0.06 0.09 0.12
Greece 6M -0.11 0.00 0.00% 0.01 0.02 0.04 0.05
Hungary 2.22 0.00 -0.02% 2.31 2.40 2.49 2.59
Ireland -0.26 0.01 -0.01% 0.03 0.05 0.09 0.12
Netherlands -0.50 0.07 0.07% 0.05 0.11 0.17 0.23
Denmark -0.47 0.01 -0.01% 0.04 0.09 0.15 0.21
Finland -0.41 0.01 -0.01% 0.04 0.09 0.13 0.19
Portugal 52W -0.56 0.02 -0.02% 0.02 0.05 0.08 0.11
Portugal 2Y -0.67 0.04 -0.04% 0.04 0.09 0.14 0.19
Portugal 3M -0.55 0.00 0.00% 0.04 0.07 0.11 0.16
Portugal 3Y -0.55 0.00 0.00% 0.06 0.12 0.18 0.26
Portugal 5Y -0.41 0.01 0.01% 0.04 0.09 0.14 0.19
Portugal 6M -0.51 0.00 0.00% 0.04 0.07 0.11 0.16
Portugal 7Y -0.22 0.00 0.00% 0.02 0.05 0.07 0.10
Switzerland -0.42 0.07 0.07% 0.05 0.10 0.16 0.23
Sweden -0.03 0.00 0.00% 0.00 0.01 0.01 0.01
Russia 1M 4.17 0.00 0.00% 4.18 4.19 4.21 4.22
Russia 3M 4.15 0.00 0.00% 4.16 4.17 4.18 4.19
Russia 6M 4.17 0.00 0.00% 4.18 4.19 4.20 4.22
Russia 20Y 6.40 0.02 0.02% 6.42 6.46 6.50 6.53
Norway 0.82 0.01 0.01% 0.84 0.87 0.89 0.93
Russia 2Y 4.49 0.01 -0.01% 4.53 4.56 4.60 4.63
Poland 1.22 0.03 0.03% 1.23 1.28 1.32 1.37
Russia 5.81 0.01 -0.01% 5.86 5.91 5.96 6.00
Russia 7Y 5.56 0.01 -0.01% 5.61 5.66 5.70 5.74
Russia 52W 4.20 0.01 0.01% 4.25 4.31 4.37 4.44
Russia 5Y 5.18 0.01 -0.01% 5.23 5.27 5.32 5.36
Russia 3Y 4.71 0.17 0.17% 4.57 4.60 4.63 4.66
Czech Republic 1.19 0.01 0.03% 1.26 1.30 1.35 1.39
Italy 30Y 1.49 0.01 -0.01% 1.54 1.58 1.63 1.67
France 20Y 0.08 0.01 0.01% 0.07 0.08 0.09 0.10
France 30Y 0.35 0.03 0.03% 0.35 0.38 0.40 0.43
Spain 0.07 0.00 0.00% 0.11 0.12 0.13 0.14
Portugal 0.03 0.00 0.01% 0.03 0.04 0.04 0.04
Portugal 20Y 0.43 0.02 0.02% 0.44 0.46 0.48 0.51
Portugal 30Y 0.75 0.02 0.02% 0.77 0.80 0.83 0.87
Greece 0.67 0.04 -0.04% 0.97 1.01 1.06 1.10
Italy 0.59 0.01 -0.01% 0.66 0.70 0.74 0.78
Italy 20Y 1.14 0.00 0.00% 1.18 1.21 1.26 1.30
Italy 7Y 0.18 0.01 -0.01% 0.26 0.28 0.30 0.32
Greece 20Y 0.98 0.02 -0.02% 1.03 1.05 1.07 1.10
Sweden 2Y Bond Yield -0.42 0.00 0.00% 0.02 0.04 0.06 0.08
United Kingdom 2Y Bond Yield -0.04 0.00 0.00% 0.00 0.01 0.01 0.01
Spain 2Y Bond Yield -0.58 0.01 -0.01% 0.05 0.10 0.15 0.21
Switzerland 2Y Bond Yield -0.79 0.01 -0.01% 0.04 0.08 0.12 0.16
Finland 2Y Bond Yield -0.75 0.04 -0.04% 0.03 0.07 0.10 0.14
Denmark 2Y Bond Yield -0.55 0.07 0.07% 0.04 0.08 0.13 0.18
Netherlands 2Y Bond Yield -0.75 0.03 -0.03% 0.02 0.05 0.08 0.10
Belgium 2Y Bond Yield -0.71 0.02 -0.02% 0.03 0.06 0.09 0.12
Turkey 2Y Bond Yield 13.10 0.17 -0.17% 13.52 13.95 14.40 14.86
Netherlands 3M -0.71 0.04 -0.04% 0.03 0.07 0.11 0.15
Netherlands 6M -0.68 0.02 -0.02% 0.03 0.05 0.08 0.11
Spain 3M -0.57 0.00 0.00% 0.03 0.07 0.11 0.15
Spain 3Y -0.58 0.01 -0.01% 0.06 0.12 0.19 0.27
Spain 5Y -0.46 0.00 0.00% 0.05 0.10 0.15 0.21
Spain 6M -0.53 0.00 0.00% 0.03 0.06 0.08 0.12
Spain 52W -0.57 0.00 0.00% 0.03 0.05 0.08 0.11

America Yield Day Q4/20 Q1/21 Q2/21 Q3/21
US 0.86 0.03 0.03% 0.85 0.88 0.90 0.93
US 1M 0.08 0.00 0.00% 0.08 0.08 0.08 0.08
US 3M 0.08 0.01 0.01% 0.07 0.07 0.07 0.08
US 6M 0.09 0.01 -0.01% 0.09 0.09 0.10 0.10
US 52W 0.10 0.00 0.00% 0.11 0.11 0.11 0.11
US 2Y 0.17 0.00 0.00% 0.17 0.17 0.18 0.18
US 3Y 0.22 0.01 0.01% 0.22 0.22 0.23 0.24
US 5Y 0.39 0.01 0.01% 0.39 0.40 0.41 0.43
US 7Y 0.63 0.02 0.02% 0.63 0.65 0.67 0.69
US 20Y 1.47 0.04 0.04% 1.47 1.51 1.54 1.58
US 30Y 1.56 0.03 0.03% 1.55 1.59 1.63 1.67
Canada 30Y 1.20 0.03 0.03% 1.20 1.24 1.27 1.31
Canada 5Y 0.45 0.03 0.03% 0.44 0.45 0.47 0.49
Canada 7Y 0.45 0.03 0.03% 0.44 0.46 0.48 0.49
Brazil 7.78 0.02 0.04% 7.89 8.00 8.10 8.21
Canada 3Y 0.31 0.01 0.01% 0.31 0.32 0.33 0.35
Canada 0.69 0.04 0.04% 0.68 0.71 0.74 0.77
Canada 6M 0.15 0.01 0.01% 0.15 0.15 0.15 0.15
Canada 2Y 0.27 0.01 0.01% 0.27 0.28 0.29 0.30
Canada 20Y 0.91 0.04 0.04% 0.90 0.92 0.95 0.98
Canada 52W 0.19 0.00 0.00% 0.20 0.20 0.20 0.21
Canada 3M 0.12 0.01 0.01% 0.11 0.11 0.11 0.11
Brazil 3M 2.18 0.10 0.10% 2.11 2.13 2.16 2.19
Canada 1M 0.13 0.01 0.01% 0.12 0.12 0.13 0.13
Mexico 5.66 0.03 0.03% 5.69 5.75 5.81 5.87
Colombia 4.88 0.01 -0.01% 4.97 5.05 5.13 5.21
Venezuela 10.43 0.00 0.00% 10.43 10.43 10.43 10.43
Chile 2.88 0.02 0.02% 2.95 3.03 3.10 3.18
Peru 15Y 0.00 0.00 0.00% 5.43 5.43 5.43 5.43
Brazil 52W 3.04 0.03 0.08% 3.05 3.09 3.13 3.18
Brazil 2Y 3.99 0.04 0.11% 4.00 4.06 4.12 4.18
Brazil 3Y 6.09 0.04 0.19% 6.15 6.25 6.35 6.46
Brazil 5Y 6.84 0.06 0.15% 6.89 6.99 7.10 7.21
Brazil 6M 2.15 0.00 0.00% 2.17 2.19 2.21 2.23

Asia Yield Day Q4/20 Q1/21 Q2/21 Q3/21
Japan 0.01 0.01 -0.01% 0.01 0.01 0.01 0.01
Japan 1M -0.09 0.00 0.00% 0.01 0.02 0.03 0.04
Japan 3M -0.10 0.01 0.01% 0.01 0.02 0.03 0.05
Japan 6M -0.11 0.00 0.00% 0.01 0.02 0.03 0.04
Japan 52W -0.15 0.00 0.00% 0.01 0.02 0.03 0.04
Japan 2Y -0.15 0.01 -0.01% 0.01 0.02 0.04 0.05
Japan 3Y -0.15 0.01 -0.01% 0.01 0.02 0.04 0.05
Japan 5Y -0.12 0.01 -0.01% 0.01 0.03 0.04 0.06
Japan 7Y -0.11 0.00 0.00% 0.01 0.02 0.04 0.05
Japan 20Y 0.38 0.01 -0.01% 0.41 0.45 0.50 0.55
Japan 30Y 0.63 0.01 -0.01% 0.68 0.74 0.81 0.88
Indonesia 1M 3.28 0.00 0.00% 3.34 3.40 3.46 3.53
Indonesia 3M 3.35 0.00 0.00% 3.42 3.49 3.56 3.63
Indonesia 6M 3.53 0.00 0.00% 3.60 3.67 3.74 3.82
Pakistan 9.84 0.00 0.00% 9.95 10.07 10.19 10.31
China 52W 3.05 0.00 0.00% 3.09 3.14 3.18 3.23
South Korea 20Y 1.70 0.01 -0.01% 1.74 1.79 1.83 1.87
South Korea 5Y 1.29 0.01 -0.02% 1.32 1.35 1.39 1.42
South Korea 1.58 0.02 -0.02% 1.62 1.66 1.71 1.75
South Korea 30Y 1.69 0.01 -0.01% 1.73 1.78 1.82 1.86
South Korea 3Y 0.95 0.01 -0.01% 0.98 1.00 1.02 1.04
China 20Y 3.90 0.06 -0.06% 4.00 4.04 4.08 4.13
Malaysia 2.67 0.00 0.00% 2.69 2.71 2.74 2.76
Indonesia 6.24 0.04 0.04% 6.29 6.34 6.39 6.45
Indonesia 52W 4.01 0.15 0.15% 4.10 4.19 4.28 4.37
Indonesia 20Y 7.04 0.02 0.02% 7.09 7.14 7.19 7.25
Indonesia 30Y 7.25 0.01 -0.01% 7.31 7.35 7.38 7.42
Indonesia 3Y 4.95 0.05 0.05% 5.00 5.05 5.09 5.14
Indonesia 5Y 5.25 0.07 0.07% 5.29 5.34 5.38 5.43
Singapore 0.92 0.01 -0.01% 0.93 0.94 0.96 0.98
India 3M 3.00 0.01 0.01% 3.04 3.06 3.09 3.12
India 6M 3.32 0.02 -0.02% 3.34 3.36 3.39 3.42
Thailand 1.34 0.02 -0.02% 1.38 1.41 1.44 1.47
China 30Y 3.93 0.02 -0.02% 3.97 4.00 4.02 4.05
China 3Y 3.10 0.05 -0.05% 3.12 3.15 3.18 3.22
Hong Kong 0.67 0.01 0.01% 0.69 0.71 0.74 0.76
India 5.90 0.03 0.02% 5.93 5.99 6.05 6.10
India 52W 3.38 0.00 0.00% 3.42 3.47 3.51 3.56
India 2Y 3.94 0.03 -0.03% 3.98 4.01 4.04 4.07
India 30Y 6.65 0.03 0.03% 6.69 6.73 6.78 6.82
India 3Y 4.43 0.01 0.01% 4.47 4.51 4.54 4.58
India 5Y 5.08 0.02 0.02% 5.12 5.17 5.22 5.27
India 7Y 5.81 0.01 0.01% 5.87 5.92 5.98 6.04
South Korea 52W 0.64 0.01 -0.01% 0.65 0.66 0.67 0.68
South Korea 2Y 0.87 0.01 -0.01% 0.89 0.91 0.93 0.95
Israel 0.79 0.00 0.00% 0.82 0.86 0.90 0.95
China 3.29 0.08 -0.08% 3.32 3.35 3.38 3.40
China 5Y 3.16 0.04 -0.04% 3.18 3.21 3.24 3.27
China 7Y 3.32 0.04 -0.04% 3.35 3.38 3.40 3.43
China 2Y 3.08 0.04 -0.04% 3.12 3.16 3.20 3.23
Vietnam 2.54 0.00 0.00% 2.57 2.60 2.63 2.67
Taiwan 0.30 0.00 0.00% 0.30 0.31 0.31 0.32
Qatar 1.70 0.00 0.00% 1.74 1.78 1.82 1.86
Philippine 3.02 0.05 -0.05% 3.06 3.11 3.15 3.20

Australia Yield Day Q4/20 Q1/21 Q2/21 Q3/21
New Zealand 0.83 0.01 -0.01% 0.86 0.89 0.92 0.95
Australia 52W 0.05 0.01 -0.01% 0.05 0.06 0.06 0.06
Australia 20Y 1.53 0.01 0.01% 1.55 1.60 1.65 1.70
Australia 2Y 0.10 0.01 -0.01% 0.11 0.11 0.11 0.12
Australia 30Y 1.86 0.01 0.01% 1.89 1.94 1.99 2.05
Australia 5Y 0.30 0.00 0.00% 0.31 0.32 0.34 0.35
Australia 7Y 0.52 0.00 0.00% 0.53 0.56 0.58 0.61
Australia 0.88 0.01 0.01% 0.89 0.93 0.97 1.01
Australia 3Y 0.13 0.00 0.00% 0.13 0.14 0.14 0.15
New Zealand 2Y Bond Yield 1.05 0.00 0.00% 1.09 1.13 1.17 1.22

Africa Yield Day Q4/20 Q1/21 Q2/21 Q3/21
Kenya 12.03 0.48 0.48% 12.24 12.45 12.67 12.89
South Africa 3M 4.55 0.52 0.52% 4.42 4.86 5.33 5.86
South Africa 8.90 0.09 0.08% 8.95 9.05 9.16 9.26
South Africa 20Y 10.99 0.03 0.03% 11.08 11.16 11.24 11.32
South Africa 2Y 4.20 0.01 0.01% 4.27 4.31 4.35 4.39
South Africa 30Y 11.02 0.02 0.02% 11.11 11.19 11.27 11.35
South Africa 5Y 7.00 0.06 0.06% 7.08 7.19 7.31 7.42
Nigeria 4.41 0.00 0.00% 4.47 4.53 4.59 4.66
Zambia Government Bond 10y 38.00 4.25 4.25% 39.12 40.28 41.46 42.69

TRADING ECONOMICS expects yields from Government Bonds to rise in 2020 on inflation concerns triggered by tight labour costs and high oil prices possibly caused by a rise in geopolitical tensions in the middle east. TRADING ECONOMICS provides forecasts for Bonds based on its analysts expectations and proprietary global macro models. The current forecasts were last revised on November 23 of 2020. Please consider that while TRADING ECONOMICS forecasts for Bonds are made using our best efforts, they are not investment recommendations.