Government bond yield · Germany
Germany 5-Year Bobl Auction
The Germany 5-Year Bobl 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 2026-11-03 وجاء عند 3.14%. هذا أقل من 3.22% في المرة السابقة.
خلال آخر 12 إصدارات تراوح بين 2.40% و3.28%، بمتوسط 2.86%. ظل يتراجع لثلاثة إصدارات متتالية.
| صدر | المدة | الفعلي | التوقعات | السابق |
|---|---|---|---|---|
| 3 Nov 2026 | – | 3.14% | – | 3.22% |
| 13 Oct 2026 | – | 3.22% | – | 3.28% |
| 22 Sep 2026 | – | 3.28% | – | 3.09% |
| 1 Sep 2026 | – | 3.09% | – | 2.93% |
| 11 Aug 2026 | – | 2.93% | – | 2.89% |
| 21 Jul 2026 | – | 2.89% | – | 2.64% |
| 16 Jun 2026 | – | 2.64% | – | 2.85% |
| 19 May 2026 | – | 2.85% | – | 2.74% |
| 14 Apr 2026 | – | 2.74% | – | 2.72% |
| 24 Mar 2026 | – | 2.72% | – | 2.43% |
| 3 Mar 2026 | – | 2.43% | – | 2.4% |
| 10 Feb 2026 | – | 2.4% | – | 2.47% |
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 5-Year Bobl Auction?
The Germany 5-Year Bobl 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 5-Year Bobl Auction?
3.14%, published on 3 November 2026.
When is the next Germany 5-Year Bobl Auction?
On Tuesday 1 December 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.