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Economy & public finances/Germany
Economy & public finances·★ Primary KPI

Germany — Government borrowing rate

3.39%
10 years · Quote of Oct 23, 2026
−0.05 ptvs Oct 22, 2026
Horizon
Frequency

Zero-coupon yield of German Federal securities at a constant residual maturity, estimated daily by the Bundesbank from market prices (Svensson method).

Source: BCE · Deutsche Bundesbank· Data Oct 23, 2026Source type : Official
Secondary market, daily quotes

Definition — Yield at which the market lends to the State, by borrowing horizon: 1-, 5- and 10-year government bonds, daily quotes from the national central bank, with the euro-area overnight rate (€STR, ECB) as a reference. The lower it is, the cheaper the debt is to finance.

  • Germany — Bundesbank term structure: zero-coupon yield at 1, 5 or 10 years residual maturity, estimated daily (Svensson method) from the prices of listed Federal securities (Bund, Bobl, Schatz). It is what Federal borrowing at that horizon costs at the day's conditions.
  • 1 day: €STR, the rate at which euro-area banks borrow unsecured overnight (ECB). Not a State borrowing rate, but the benchmark for very short rates.
  • 1 week, 1 month, 3 and 6 months: not shown. The Bundesbank daily curve starts at 1 year residual maturity; issue yields of the Federal short-term paper (Bubills) are not released as an open daily series.
  • Weekly, monthly, annual: average of the period's daily quotes; the running period is dashed and is never the value shown.
  • 1 day : BCE — EST.B.EU000A2X2A25.WT (since Oct 1, 2019)
  • 1 year : Deutsche Bundesbank — BBSIS.D.I.ZST.ZI.EUR.S1311.B.A604.R01XX.R.A.A._Z._Z.A (since Nov 1, 2004)
  • 5 years : Deutsche Bundesbank — BBSIS.D.I.ZST.ZI.EUR.S1311.B.A604.R05XX.R.A.A._Z._Z.A (since Nov 1, 2004)
  • 10 years : Deutsche Bundesbank — BBSIS.D.I.ZST.ZI.EUR.S1311.B.A604.R10XX.R.A.A._Z._Z.A (since Nov 1, 2004)
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