Euroområdets benchmarkkurva
Tyskland — Bunds
German 10-year bund (Maastricht): 3.19% per August 2026 · ECB IRS long-term rate. Metod
Tysk federal skuld emitteras av Finanzagentur som Schatz (cirka två år), Bobl (cirka fem), Bund (tio och trettio) och inflationslänkade rader. Den 10-åriga bunden är euroområdets riskfria referens; andra eurostater handlas som en spread mot den.
Negativa bundräntor förekom på 2010-talet. Kupong är inte ränta: en bund köpt till 140 kan fortfarande vara ”säker” kredit och en dålig avkastning till förfall.
Vi visar ECB:s tyska långränta (månadsvis) och ECB AAA 10-årig spot (daglig) så att du ser både den nationella noteringen och den supersuveräna kurvan.
- 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.