Euro Area - Euro yield curve: Maturity: 5 years was 2.19% in July of 2025, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Euro Area - Euro yield curve: Maturity: 5 years - last updated from the EUROSTAT on September of 2025. Historically, Euro Area - Euro yield curve: Maturity: 5 years reached a record high of 2.78% in October of 2023 and a record low of -0.74% in August of 2021.

Euro Area - Euro yield curve: Maturity: 1 year was 1.81% in June of 2025, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Euro Area - Euro yield curve: Maturity: 1 year - last updated from the EUROSTAT on July of 2025. Historically, Euro Area - Euro yield curve: Maturity: 1 year reached a record high of 3.51% in September of 2023 and a record low of -0.82% in November of 2021.

Euro Area - Euro yield curve: Maturity: 10 years was 2.73% in July of 2025, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Euro Area - Euro yield curve: Maturity: 10 years - last updated from the EUROSTAT on September of 2025. Historically, Euro Area - Euro yield curve: Maturity: 10 years reached a record high of 2.91% in October of 2023 and a record low of -0.46% in August of 2021.

Graph and download economic data for Interest Rates: Long-Term Government Bond Yields: 10-Year: Main (Including Benchmark) for Euro Area (19 Countries) (IRLTLT01EZM156N) from Jan 1970 to Jul 2025 about long-term, Euro Area, 10-year, Europe, bonds, yield, government, interest rate, interest, and rate.

A yield curve (which is known as the term structure of interest rates) represents the relationship between market remuneration (interest) rates and the remaining time to maturity of debt securities. The zero coupon yield curves and their corresponding time series are calculated using "AAA-rated" euro area central government bonds, i.e. debt securities with the most favourable credit risk assessment. They represent the yields to maturity of hypothetical zero coupon bonds. Source: European Central Bank.

Euro yield curve by maturity (1, 5 and 10 years)

The benchmark interest rate In the Euro Area was last recorded at 2.15 percent. This dataset provides - Euro Area Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Euro yield curves - annual data

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As of December 30, 2024, ** economies reported a negative value for their ten year minus two year government bond yield spread: Ukraine with a negative spread of ***** percent; Turkey, with a negative spread of 1332 percent; Nigeria with **** percent; and Russia with **** percent. At this time, almost all long-term debt for major economies was generating positive yields, with only the most stable European countries seeing smaller values. Why is an inverted yield curve important? Often called an inverted yield curve or negative yield curve, a situation where short term debt has a higher yield than long term debt is considered a main indicator of an impending recession. Essentially, this situation reflects an underlying belief among a majority of investors that short term interest rates are about to fall, with the lowering of interest rates being the orthodox fiscal response to a recession. Therefore, investors purchase safe government debt at today's higher interest rate, driving down the yield on long term debt. In the United States, an inverted yield curve for an extended period preceded (almost) all recent recessions. The exception to this is the economic downturn caused by the coronavirus (COVID-19) pandemic – however, the U.S. ten minus two year spread still came very close to negative territory in mid-2019. Bond yields and the coronavirus pandemic The onset of the coronavirus saw stock markets around the world crash in March 2020. This had an effect on bond markets, with the yield of both long term government debt and short term government debt falling dramatically at this time – reaching negative territory in many countries. With stock values collapsing, many investors placed their money in government debt – which guarantees both a regular interest payment and stable underlying value - in contrast to falling share prices. This led to many investors paying an amount for bonds on the market that was higher than the overall return for the duration of the bond (which is what is signified by a negative yield). However, the calculus is that the small loss taken on stable bonds is less that the losses likely to occur on the market. Moreover, if conditions continue to deteriorate, the bonds may be sold on at an even higher price, partly offsetting the losses from the negative yield.

Euro yield curves - quarterly data

Euro yield curves - annual data

Euro yield curves - daily data Copyright notice and free re-use of data on: https://ec.europa.eu/eurostat/about-us/policies/copyright

Treasury yield curves or treasury zero-coupon yield curve are derived from treasury benchmark curves. The main interest in the market to estimate treasury yield curves is to provide insights into the evolution of market expectations.

The zero coupon rate or zero rate, the most common form of interest rate, is the yield implied by the different between a zero coupon bond's current purchase price and the value it pays at maturity. A given zero rate applies only to a single point in the future and, as such, can only be used to discount cash flows occurring on this date. Zero rates can have different compoundings: continuously, semi-annually, annually, etc. The continuously compounded zero rate has the simplest expression and computation mathematically.

The yield on Euro Area 10Y Bond Yield eased to 3.16% on July 31, 2025, marking a 0.02 percentage point decrease from the previous session. Over the past month, the yield has edged up by 0.08 points and is 0.27 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. This dataset includes a chart with historical data for Euro Area Government Bond 10y.

As of July 22, 2025, the yield for a ten-year U.S. government bond was 4.38 percent, while the yield for a two-year bond was 3.88 percent. This represents an inverted yield curve, whereby bonds of longer maturities provide a lower yield, reflecting investors' expectations for a decline in long-term interest rates. Hence, making long-term debt holders open to more risk under the uncertainty around the condition of financial markets in the future. That markets are uncertain can be seen by considering both the short-term fluctuations, and the long-term downward trend, of the yields of U.S. government bonds from 2006 to 2021, before the treasury yield curve increased again significantly in the following years. What are government bonds? Government bonds, otherwise called ‘sovereign’ or ‘treasury’ bonds, are financial instruments used by governments to raise money for government spending. Investors give the government a certain amount of money (the ‘face value’), to be repaid at a specified time in the future (the ‘maturity date’). In addition, the government makes regular periodic interest payments (called ‘coupon payments’). Once initially issued, government bonds are tradable on financial markets, meaning their value can fluctuate over time (even though the underlying face value and coupon payments remain the same). Investors are attracted to government bonds as, provided the country in question has a stable economy and political system, they are a very safe investment. Accordingly, in periods of economic turmoil, investors may be willing to accept a negative overall return in order to have a safe haven for their money. For example, once the market value is compared to the total received from remaining interest payments and the face value, investors have been willing to accept a negative return on two-year German government bonds between 2014 and 2021. Conversely, if the underlying economy and political structures are weak, investors demand a higher return to compensate for the higher risk they take on. Consequently, the return on bonds in emerging markets like Brazil are consistently higher than that of the United States (and other developed economies). Inverted yield curves When investors are worried about the financial future, it can lead to what is called an ‘inverted yield curve’. An inverted yield curve is where investors pay more for short term bonds than long term, indicating they do not have confidence in long-term financial conditions. Historically, the yield curve has historically inverted before each of the last five U.S. recessions. The last U.S. yield curve inversion occurred at several brief points in 2019 – a trend which continued until the Federal Reserve cut interest rates several times over that year. However, the ultimate trigger for the next recession was the unpredicted, exogenous shock of the global coronavirus (COVID-19) pandemic, showing how such informal indicators may be grounded just as much in coincidence as causation.

Graph and download economic data for Interest Rates: 3-Month or 90-Day Rates and Yields: Interbank Rates: Total for Euro Area (19 Countries) (IR3TIB01EZM156N) from Jan 1994 to Jun 2025 about interbank, Euro Area, 3-month, Europe, yield, interest rate, interest, and rate.

Graph and download economic data for ICE BofA Euro High Yield Index Effective Yield (BAMLHE00EHYIEY) from 1997-12-31 to 2025-08-28 about Euro Area, Europe, yield, interest rate, interest, rate, and indexes.

In June 2024, the European Central Bank (ECB) began reducing its fixed interest rate for the first time since 2016, implementing a series of cuts. The rate decreased from 4.5 percent to 3.15 percent by year-end: a 0.25 percentage point cut in June, followed by additional reductions in September, October, and December. The central bank implemented other cuts in the first half of 2025, setting the rate at 2.15 percent in June 2025. This marked a significant shift from the previous rate hike cycle, which began in July 2022 when the ECB raised rates to 0.5 percent and subsequently increased them almost monthly, reaching 4.5 percent by December 2023 - the highest level since the 2007-2008 global financial crisis. How does this ensure liquidity? Banks typically hold only a fraction of their capital in cash, measured by metrics like the Tier 1 capital ratio. Since this ratio is low, banks prefer to allocate most of their capital to revenue-generating loans. When their cash reserves fall too low, banks borrow from the ECB to cover short-term liquidity needs. On the other hand, commercial banks can also deposit excess funds with the ECB at a lower interest rate. Reasons for fluctuations
The ECB’s primary mandate is to maintain price stability. The Euro area inflation rate is, in theory, the key indicator guiding the ECB's actions. When the fixed interest rate is lower, commercial banks are more likely to borrow from the ECB, increasing the money supply and, in turn, driving inflation higher. When inflation rises, the ECB increases the fixed interest rate, which slows borrowing and helps to reduce inflation.

Euro Area - Long term gov. bond yields was 3.10% in July of 2025, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Euro Area - Long term gov. bond yields - last updated from the EUROSTAT on September of 2025. Historically, Euro Area - Long term gov. bond yields reached a record high of 3.59% in October of 2023 and a record low of -0.08% in August of 2021.