The yield on Germany 2 Year Bond Yield eased to 1.88% on July 14, 2025, marking a 0.02 percentage point decrease from the previous session. Over the past month, the yield has edged up by 0.04 points, though it remains 0.91 points lower than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. Germany 2 Year Schatz Yield - values, historical data, forecasts and news - updated on July of 2025.

Graph and download economic data for Interest Rates: Long-Term Government Bond Yields: 10-Year: Main (Including Benchmark) for Germany (IRLTLT01DEM156N) from May 1956 to May 2025 about long-term, Germany, 10-year, bonds, yield, government, interest rate, interest, and rate.

The yield on Germany 10Y Bond Yield rose to 2.69% on July 11, 2025, marking a 0.03 percentage point increase from the previous session. Over the past month, the yield has edged up by 0.21 points and is 0.19 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. Germany 10-Year Bond Yield - values, historical data, forecasts and news - updated on July of 2025.

The yield on German two-year treasure notes was equal to 2.09 percent as of the end of December 2024. For short term debt traded on the capital market, the German federal government issues a two-year treasury note called a 'Schatz' in German. This is then followed by five-year treasure notes called 'Bobl', then federal bonds with a maturity of between 10 and 30 years ('Bund' in German).

Prices for Germany 2Y including live quotes, historical charts and news. Germany 2Y was last updated by Trading Economics this July 14 of 2025.

Key information about Germany Short Term Government Bond Yield

• Germany Short Term Government Bond Yield: Daily: Germany: 2 Years was reported at 2.15 % pa in Mar 2025, compared with 2.13 % pa in the previous day.
• Germany Short Term Government Bond Yield data is updated daily, available from Jan 2014 to Mar 2025.
• The data reached an all-time high of 3.34 % pa in Mar 2023 and a record low of -1.02 % pa in Mar 2020.
• Short Term Government Bond Yield is reported by CEIC Data.

In January 2020, prior to the onset of the global coronavirus (COVID-19) pandemic, three of the seven largest economies by GDP had negative yields for two-year government bonds (Japan, Germany and France). With the onset of the pandemic, two-year bond yields in these countries actually rose slightly - in contrast to the other major economies, where yields fell over this period. As of December 2024, yields for two-year government bonds exhibited fluctuations across all countries. Notably, Japan showed a slight upward trend, while China experienced a modest decline.Negative yields assume that investors lack confidence in economic growth, meaning many investments (such as stocks) may lose value. Therefore, it is preferable to take a small loss on government debt that carries almost no risk to the investor, than risk a larger loss on other investments. As both the yen and euro are considered very safe assets, Japanese, German and French bonds were already being held by many investors prior to the pandemic as a hedge against economic downturn. Therefore, with the announcement of fiscal responses to the pandemic by many governments around March 2020, the value of these assets rose as confidence increased (slightly) that the worst case may be avoided. At the same time, yields on bonds with a higher return fell, as investors sought out investments with a higher return that were still considered safe.

As of April 16, 2025, the yield for a ten-year U.S. government bond was 4.34 percent, while the yield for a two-year bond was 3.86 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.

The yield on Germany 5 Year Bond Yield rose to 2.23% on July 11, 2025, marking a 0.02 percentage point increase from the previous session. Over the past month, the yield has edged up by 0.16 points, though it remains 0.24 points lower than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. Germany 5 Year Bobl Yield - values, historical data, forecasts and news - updated on July of 2025.

As of April 16, 2025, Germany's bond market displayed a positive spread of 77.2 basis points between 10-year and 2-year yields, indicating long-term rates above short-term ones. The 5-year versus 2-year spread was also positive, at 32.8 basis points. On the other hand, the 2-year versus 1-year spread was negative, at -8.5 basis points, suggesting a mildly inverted yield curve in shorter maturities. Negative spreads indicate a (partially) inverted yield curve. This often signals investor pessimism about short-term economic prospects, as investors seek the relative safety of long-term bonds, pushing those yields down relative to shorter-term bonds. An inverted yield curve is typically interpreted as a potential indicator of economic slowdown or recession, as it reflects expectations of lower interest rates in the future to stimulate the economy.

This dataset provides values for 2 YEAR NOTE YIELD reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

As of December 2024, all United Kingdom government debt securities were returning positive yields, regardless of maturity. This places the yield of both UK short term bonds and long term bonds above that of major countries like Germany, France and Japan, but lower than the United States. What are government bonds? Government bonds are debt instruments where a certain amount of money is given to the issuer, in exchange for regular payments of interest over a fixed period. At the end of this period the issuer then returns the amount in full. Bonds differ from a regular loan through how they can be traded on financial markets once issued. This ability to trade bonds makes it more complex to measure the return investors receive from bonds, as the price they buy a bond for on the market may differ from the price the same bond was initially issued at. The yield is therefore calculated as what investors can expect to receive based on current market prices paid for the bond, not the value it was issued at. In total, UK government debt amounted to over 2.4 trillion British pounds in 2023 – with the majority being comprised of different types of UK government bonds. Why are inverted yield curves important? UK government bond yields over recent years have taken on a typical shape, with short term bonds having a lower yield than bonds with a maturity of 10 to 20 years. The higher yield of longer-term bonds compensates investors for the higher level of uncertainty in the future. However, if investors are sufficiently worried about both a short term economic decline, and low long term growth, they may prefer to purchase short term bonds in order to secure assets with regular interest payments in the here and now (as opposed to shares, which can lose a lot of value in a short time). This can lead to an inverted yield curve, where shorter term debt has a higher yield. Inverted yield curves are generally seen as a reliable indicator of a recession, with inverted yields occurring before most recent U.S. recessions. The major exception to this is the recession from the coronavirus pandemic – but even then, U.S. yield curves came perilously close to being inverted in mid-2019.

Sources:

German Central Bank (ed.), 1975: Deutsches Geld- und Bankwesen in Zahlen 1876 – 1975. (German monetary system and banking system in numbers 1876 – 1975) German Central Bank (ed.), different years: monthly reports of the German Central Bank, statistical part, interest rates German Central Bank (ed.), different years: Supplementary statistical booklets for the monthly reports of the German Central Bank 1959 – 1992, security statistics Reich Statistical Office (ed.), different years: Statistical yearbook of the German empire Statistical Office (ed.), 1985: Geld und Kredit. Index der Aktienkurse (Money and Credit. Index of share prices) – Lange Reihe; Fachserie 9, Reihe 2. Statistical Office (ed.), 1987: Entwicklung der Nahrungsmittelpreise von 1800 – 1880 in Deutschland. (Development of food prices in Germany 1800 – 1880) Statistical Office (ed.), 1987: Entwicklung der Verbraucherpreise (Development of consumer prices) seit 1881 in Deutschland. (Development of consumer prices since 1881 in Germany) Statistical Office (ed.), different years: Fachserie 17, Reihe 7, Preisindex für die Lebenshaltung (price index for costs of living) Donner, 1934: Kursbildung am Aktienmarkt; Grundlagen zur Konjunkturbeobachtung an den Effektenmärkten. (Prices on the stock market; groundwork for observation of economic cycles on the stock market) Homburger, 1905: Die Entwicklung des Zinsfusses in Deutschland von 1870 – 1903. (Development of the interest flow in Germany, 1870 – 1903) Voye, 1902: Über die Höhe der verschiedenen Zinsarten und ihre wechselseitige Abhängigkeit.(On the values of different types of interests and their interdependence).

The yield on France 10Y Bond Yield rose to 3.43% on July 14, 2025, marking a 0.02 percentage point increase from the previous session. Over the past month, the yield has edged up by 0.21 points and is 0.32 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. France 10-Year Government Bond Yield - values, historical data, forecasts and news - updated on July of 2025.

The researcher made in this study an attempt to give a recapitulatory description of the financing of both World Wars. Therefore according to a given definition of war expenditures only those expenditures were taken into account which arose during the war and which were accounted for in the national budget of the German Empire (Reichshaushalt).The so called post-war burdens, which arose after the respective ceasefire, were not taken into account.By comparing the financing methods of both wars, an insight into the background and the respective characteristics (caused by the different economic systems and economic conditions) shall be enabled. List of data tables (time series data) in the search and download system HISTAT (www.histat.gesis.org): A. The development of military spending in Germany A.1 Total and military expenditure of the German Reich in million marks (1910-1919)A.2 The monthly war expenditure in million marks (1914-1919)A.3 Total expenditure and military expenditure of the German Empire (1933-1945)A.4 Expenditure in the national budget in billions of RM (ordinary and special accounts) (1937/38-1944/45)A.5 total expenditure and expenditure on debt servicing (1914-1919, 1938-45) B. The funding in both wars through tax policies B.1 The most important tax revenue in million marks (1913-1918)B.2 The development of the customs revenue in Germany, England and France in millions of currency units of each country (1913-1918)B.3 The main groups of ordinary income (1913-1918)B.4 The total expenditure, the ordinary revenues, the need for extraordinary covering funds and the borrowing in million marks (1914-1918)B.5 actual revenue of the empire from taxes and customs duties in million RM (1933/34-1943/44)B.6 total expenditure, total revenue and revenue from taxes and customs duties (1938-1945)B.7 national budget in billions of RM (ordinary and extraordinary income) (1938/39-1944/45)B.8 Floating debt of the German Empire from discounted treasury bills, compared with the proceeds of war bonds (1914-1919) C. The funding in both wars by credit policy C.1 Results of the nine German war bonds in million marks (1914-1918)C.2 National debt in million marks (1900-1920)C.3 The bank deposits in billion RM in Germany (1940-1944)C.4 Public and private indebtedness in Germany (1932-1944)C.5A Total outstanding volume of debt securities in million RM (1933-1940)C.5B Total outstanding volume of debt securities in million RM (1933-1940)C.6 National debt in billions of RM (1933/34, 1937/38-1944/45)C.7 The internal debt of various countries (1939-1944)C.8 Development of public debt in various countries in millions of currency units of the country (1913/1920, 1939/45) D. Financing in both wars by monetary policy D.1 The Reichsbank, billion marks (1913-1918)D.2 Coverage of circulation of the Reichsbank and of the foreign funds as annual average in percent (1914-1919)D.3 Circulation in million RM (1928-1945)D.4 The sight liabilities of the Reichsbank in million RM (1940-1945) E. Financing in the two wars by the pricing policies and economic measures E.1 International wholesale index numbers as annual averages (1913-1922)E.2 General index of prices as an annual average (1928-1944)E.3 The wholesale price index as an annual average (1928-1944)E.4 Index numbers of commodity prices as an annual average (1928-1944)E.5 Import and export values in billions of German marks (1913-1917) F. The financing of both was from different point of view F.1 consumer goods production (1939-1944)F.2 The monthly Germany´s armaments production in the First and Second World War (1918, 1944/45)F.3 Empire index numbers for the cost of living as an annual average (1928-1944)F.4 Index number of earnings over the year (1928-1944) G. G. Further comparison tables other authors G.1 Defense spending and national income by Blaich (1932-1938)G.2 Share of defense production as a percentage of industrial production in the German Empire (Deutsches Reich) after Rolf Wagenfuhr (1939-1944). Timeseries are downloadable via the online system HISTAT (www.histat.gesis.org).

The yield on Italy 10Y Bond Yield rose to 3.61% on July 11, 2025, marking a 0.02 percentage point increase from the previous session. Over the past month, the yield has edged up by 0.20 points, though it remains 0.18 points lower than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. Italy 10-Year Government Bond Yield - values, historical data, forecasts and news - updated on July of 2025.

The mortgage interest rate in Germany decreased notably between 2013 and 2022, falling below 1.5 percent. This was part of an overall trend of falling mortgage interest rates in Europe. The mortgage interest rate in Germany has since increased to 3.9 percent in the second quarter of 2024. The German mortgage market In Europe, Germany is the second-largest mortgage market, with a total value of mortgages outstanding amounting to over 1.8 trillion euros. Mortgage loans are one of the oldest bank products. Among the factors that influence mortgage interest rates are inflation, economic growth, monetary policies, the bond market, the stability of lenders, and the overall conditions of the housing market. Mortgage loans The higher cost of borrowing has a significant effect on the market: While the interest rates were at their lowest, mortgage lending was on the rise. In 2023, when the rates reached a 10-year-high, the quarterly gross mortgage lending fell to the lowest value since 2014. Meanwhile, house prices have also increased substantially in recent years. According to the House Price Index in Germany, between 2015 and 2022, house prices increased by over 60 percent.

As of December 2024, Japan held United States treasury securities totaling about 1.06 trillion U.S. dollars. Foreign holders of United States treasury debt According to the Federal Reserve and U.S. Department of the Treasury, foreign countries held a total of 8.5 trillion U.S. dollars in U.S. treasury securities as of December 2024. Of the total held by foreign countries, Japan and Mainland China held the greatest portions, with China holding 759 billion U.S. dollars in U.S. securities. The U.S. public debt In 2023, the United States had a total public national debt of 33.2 trillion U.S. dollars, an amount that has been rising steadily, particularly since 2008. In 2023, the total interest expense on debt held by the public of the United States reached 678 billion U.S. dollars, while 197 billion U.S. dollars in interest expense were intra governmental debt holdings. Total outlays of the U.S. government were 6.1 trillion U.S. dollars in 2023. By 2029, spending is projected to reach 8.3 trillion U.S. dollars.

The German confectionery industry is one of the largest producers and exporters of confectionery in Europe and the world's largest chocolate manufacturer. In the period from 2020 to 2025, industry turnover grew by an average of 1.9% per year. In 2020 and 2021, the coronavirus crisis not only made international trade more difficult, but also had a negative impact on consumer confidence and national and international travel. This in turn led to a drop in sales of chocolate, gummy bears and other confectionery at airports, train stations, petrol stations and kiosks. In addition, the lockdown in spring 2020 deprived many confectionery manufacturers of Easter business and thus slowed sales growth. In the current year, higher sales prices and rising confectionery exports are likely to contribute to sales growth of 1.8% to 16.2 billion euros. The industry obtains most of its input factors from abroad, meaning that its cost structure is heavily influenced by the development of world market prices, particularly for cocoa and sugar. In recent years, this has led to uncertainties with regard to cost and price calculations and is likely to remain a factor of uncertainty in the future. In addition, current trends towards more conscious consumer behaviour pose further challenges for industry players, including both the compatibility of their products with a healthier diet and the consideration of production conditions and sustainability aspects along the value chain. Over the past five years, many companies have been able to gain a competitive advantage by selling fair trade, vegan and sugar-reduced products, for example. Demand for fair trade and premium products has also been boosted by rising household incomes over the past five years.In the period from 2025 to 2030, turnover in the industry is expected to grow by an average of 2.2% per year, reaching 18 billion euros in 2030. The industry is likely to remain dominated by well-known brand manufacturers in the future, who will continue to invest in the development of new products due to the ongoing competitive pressure.

Graph and download economic data for ICE BofA Euro High Yield Index Option-Adjusted Spread (BAMLHE00EHYIOAS) from 1997-12-31 to 2025-07-10 about option-adjusted spread, Euro Area, Europe, yield, interest rate, interest, rate, and indexes.