What Are German Bobl Bonds?
Von der Redaktion Financial World News · Pädagogische Erklärung · So beziehen wir Renditen
Bobls (Bundesobligationen) are medium-term German federal bonds, typically five years.
Die vollständige Fassung dieses Leitfadens ist auf Englisch. Titel, Kurzfassung und Navigation sind in Ihrer Sprache, damit Sie entscheiden können, ob Sie weiterlesen.
What Are German Bobl Bonds — the mechanics
Bobl sits between Schatz and Bund on the curve. Five-year duration is a common ‘intermediate’ sleeve in euro government portfolios.
Bobls (Bundesobligationen) sit around five years — the belly of the German curve. More duration than Schatz, less than a 10-year bund.
A 5-year is where ‘a bit of rate risk’ lives for euro cash that can wait. It is not a substitute for a 30-year liability match.
Compare Bobl YTM with Schatz and Bund 10-year on the same day to see the curve’s shape. That shape is the story, not the coupon printed in 2022.
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.
Die wichtigsten Punkte
- Bobls (Bundesobligationen) sit around five years — the belly of the German curve.
- 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
- Why not just buy a 5-year bund?
- Germany uses different lines and names by maturity bucket. Liquidity concentrates in the current Schatz, Bobl and Bund benchmarks.