Government bond yield · Germany
Germany 20-Year Bund Auction
The Germany 20-Year Bund Auction is the yield on Germany's government debt of that maturity: the annual return an investor earns by buying the bond or bill at today's price and holding it to maturity.
- الأهمية
- Low
- صدر
- Monthly
- الإصدار التالي
- العملة
- EUR · euro
- البنك المركزي
- The European Central Bank (with the Bundesbank)
أحدث الأرقام
صدر آخر إصدار في 2026-10-14 وجاء عند 3.80%. هذا أعلى من 3.78% في المرة السابقة.
خلال آخر 7 إصدارات تراوح بين 3.36% و3.88%، بمتوسط 3.58%.
| صدر | المدة | الفعلي | التوقعات | السابق |
|---|---|---|---|---|
| 14 Oct 2026 | – | 3.80% | – | 3.78% |
| 23 Sep 2026 | – | 3.78% | – | 3.88% |
| 16 Sep 2026 | – | 3.88% | – | 3.60% |
| 24 Jun 2026 | – | 3.38% | – | 3.40% |
| 17 Jun 2026 | – | 3.40% | – | 3.47% |
| 22 Apr 2026 | – | 3.47% | – | 3.36% |
| 18 Mar 2026 | – | 3.36% | – | 3.15% |
لماذا يهم
Government yields are the base of every other interest rate. Short maturities follow the European Central Bank (with the Bundesbank)'s policy rate closely; long ones reflect expected growth, inflation and the risk of holding long debt. Higher yields relative to other countries attract capital and support the euro; the gap between long and short yields (the yield curve) is a classic recession signal when it turns negative.
طريقة الحساب
The yield is the interest rate that makes the present value of the bond's coupons and repayment equal to its price; on a calendar it often reports the average yield at a government auction.
Price = Σ coupon ÷ (1 + y)ᵗ + face ÷ (1 + y)ᵀ
Inflation-linked (TIPS) yield ≈ nominal yield − expected inflationما تعنيه التغيرات
- Yields rise when prices of bonds fall: strong data and hawkish central banks push yields up.
- An inverted curve (2-year above 10-year) has preceded most US recessions, with a lag of a year or more.
- Inflation-linked yields show the real (after-inflation) return.
لمحة تاريخية قصيرة
Government bond markets go back to the Dutch and English debt of the 17th century; the US Treasury yield curve has been watched as a recession signal since research by Campbell Harvey in the 1980s.
الأسئلة
What is the Germany 20-Year Bund Auction?
The Germany 20-Year Bund Auction is the yield on Germany's government debt of that maturity: the annual return an investor earns by buying the bond or bill at today's price and holding it to maturity.
What was the latest Germany 20-Year Bund Auction?
3.80%, published on 14 October 2026.
When is the next Germany 20-Year Bund Auction?
On Wednesday 11 November 2026 at 10:30 UTC.
محتوى تعليمي فقط، وليس نصيحة استثمارية. الأرقام هي النتائج المنشورة كما سجّلتها مفكرتنا؛ وردود فعل السوق الموصوفة نموذجية وليست مضمونة.