As of July 18, 2025, the major economy with the highest yield on 10-year government bonds was Turkey, with a yield of ** percent. This is due to the risks investors take when investing in Turkey, notably due to high inflation rates potentially eradicating any profits made when using a foreign currency to investing in securities denominated in Turkish lira. Of the major developed economies, United Kingdom had one the highest yield on 10-year government bonds at this time with **** percent, while Switzerland had the lowest at **** percent. How does inflation influence the yields of government bonds? Inflation reduces purchasing power over time. Due to this, investors seek higher returns to offset the anticipated decrease in purchasing power resulting from rapid price rises. In countries with high inflation, government bond yields often incorporate investor expectations and risk premiums, resulting in comparatively higher rates offered by these bonds. Why are government bond rates significant? Government bond rates are an important indicator of financial markets, serving as a benchmark for borrowing costs, interest rates, and investor sentiment. They affect the cost of government borrowing, influence the price of various financial instruments, and serve as a reflection of expectations regarding inflation and economic growth. For instance, in financial analysis and investing, people often use the 10-year U.S. government bond rates as a proxy for the longer-term risk-free rate.

As of December 2024, the countries with the highest 10-year yields are the United Kingdom, the United States and Australia with 4.68, 4.38 and 4.21 percent, respectively. Of the largest economies by GDP, the United States saw the sharpest fall in absolute terms for 10-year government bond yields due to the coronavirus (COVID-19) pandemic. From a level of 1.51 percent in January 2020, yields on 10-year government bonds fell to 0.65 percent by April 2020, and had further fallen to 0.53 percent by July 2020 before starting to recover towards the end of the year. Conversely, countries that went into 2020 with already low bond yields like Japan, Germany and France actually saw a small increase in March 2020 - although these already low yields mean that these small changes are significant in relative terms.

This dataset provides values for 30 YEAR BOND YIELD reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

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.

In June 2025, the average yield on ten-year government bonds in the United States was **** percent. This was the ******* of the selected developed economies considered in this statistic. Bonds and yields – additional information The bond yield indicates the level of return that the investor can expect from a given type of bond. The government of Italy, for instance, offered the investors **** percent yield on ten-year government bonds for borrowing their money in June 2025. In the United States, government needs are also financed by selling various debt instruments such as Treasury bills, notes, bonds and savings bonds to investors. The largest holders of U.S. debt are the Federal Reserve and Government accounts in the United States. The major foreign holders of the United States treasury securities are Japan, Mainland China, and the United Kingdom.

The yield on US 30 Year Bond Yield rose to 4.68% on September 12, 2025, marking a 0.02 percentage point increase from the previous session. Over the past month, the yield has fallen by 0.15 points, though it remains 0.70 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. United States 30 Year Bond Yield - values, historical data, forecasts and news - updated on September of 2025.

The yield on US 10 Year Note Bond Yield rose to 4.07% on September 12, 2025, marking a 0.04 percentage point increase from the previous session. Over the past month, the yield has fallen by 0.18 points, though it remains 0.41 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. US 10 Year Treasury Bond Note Yield - values, historical data, forecasts and news - updated on September of 2025.

The yield on Japan 10Y Bond Yield rose to 1.60% on September 12, 2025, marking a 0.02 percentage point increase from the previous session. Over the past month, the yield has edged up by 0.08 points and is 0.76 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. Japan 10 Year Government Bond Yield - values, historical data, forecasts and news - updated on September of 2025.

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.

Bond Fund Sales Market Outlook

The bond fund sales market size was valued at approximately USD 10 trillion in 2023 and is projected to reach around USD 15 trillion by 2032, growing at a compound annual growth rate (CAGR) of 4.5%. This growth is primarily driven by increasing investor demand for stable and diversified income streams amidst global economic uncertainties. The market size expansion is fostered by factors such as an aging global population seeking more conservative investment options, heightened volatility in equity markets, and favorable regulatory changes supporting bond fund investments.

One of the primary growth factors for the bond fund sales market is the demographic shift towards an aging population, particularly in developed regions such as North America and Europe. As more individuals approach retirement age, there is a heightened need for investment products that offer steady income with reduced risk exposure. Bond funds, known for their relatively stable returns and lower volatility compared to equity funds, serve as an attractive option for this demographic. Additionally, the increasing life expectancy rates globally are pushing retirees to seek long-term investment solutions that can provide consistent income streams over extended periods.

Another significant growth driver is the evolving regulatory landscape that favors bond investments. Governments and financial regulatory bodies in various regions are implementing rules and guidelines that promote transparency and investor protection in the bond markets. These regulatory changes increase investor confidence and make bond funds more appealing to both retail and institutional investors. Furthermore, the introduction of green bonds and other socially responsible investment (SRI) products within the bond fund market is drawing interest from a growing segment of environmentally and socially conscious investors.

Technological advancements and the proliferation of digital investment platforms are also contributing to the growth of the bond fund sales market. Online platforms and robo-advisors are making it easier for retail investors to access and manage bond fund investments with lower fees and greater convenience. These platforms provide investors with tools and resources to make informed investment decisions, thereby increasing the participation rate of individual investors in the bond market. This digital transformation is democratizing access to bond funds and expanding the market's reach across various investor segments.

Regionally, the bond fund sales market exhibits diverse growth patterns. North America and Europe are expected to maintain their dominance due to their mature financial markets and high levels of investor awareness and engagement. However, the Asia-Pacific region is anticipated to exhibit the highest CAGR during the forecast period, driven by rapid economic growth, rising disposable incomes, and increasing investor sophistication. Latin America and the Middle East & Africa regions are also witnessing growing interest in bond funds, albeit at a slower pace, as these markets gradually develop and integrate into the global financial system.

Fund Type Analysis

Government bond funds are a cornerstone of the bond fund market, offering investors a relatively low-risk investment option backed by government securities. These funds have been traditionally appealing to risk-averse investors, including retirees and conservative institutional investors. The demand for government bond funds is amplified during periods of economic uncertainty, as they are perceived as safe havens. The increasing issuance of government bonds to finance fiscal stimulus and infrastructure projects globally is also contributing to the growth of this segment. Moreover, central banks' policies, such as quantitative easing, have increased the liquidity and attractiveness of these bonds.

Corporate bond funds represent a significant portion of the bond fund market, providing higher yields compared to government bonds, albeit with increased risk. These funds invest in bonds issued by corporations to finance their operations and expansions. The corporate bond market is highly dynamic, with companies frequently entering and exiting the market based on their financing needs and credit ratings. The growth of this segment is supported by strong corporate earnings and favorable economic conditions that enhance companies' ability to service their debt. Additionally, the trend towards globalization and cross-border investments is expanding the market for corporate bond funds.

Fixed Income Asset Management Market Outlook

The global fixed income asset management market size was valued at approximately USD 5.7 trillion in 2023 and is projected to grow to USD 9.3 trillion by 2032, expanding at a compound annual growth rate (CAGR) of 5.5% over the forecast period. The growth of this market is primarily driven by the increasing demand for stable and predictable returns in an uncertain economic environment.

One of the significant growth factors for the fixed income asset management market is the aging global population. As more individuals approach retirement age, the demand for fixed income investments that offer stable returns and lower risk compared to equities is increasing. Retirees and near-retirees often prioritize capital preservation and income generation, which fixed income products are well-suited to provide. This demographic trend is particularly prominent in developed countries but is also becoming more relevant in emerging markets as their populations age and accumulate wealth.

Another crucial growth driver is the rising interest rate environment. As central banks around the world shift towards tightening monetary policies to combat inflation, interest rates are gradually increasing. Higher interest rates make newly issued bonds more attractive to investors due to their higher yields. This situation creates opportunities for fixed income asset managers to attract new investments and cater to clients looking for better returns in a higher interest rate environment. Additionally, higher yields can enhance the overall performance of fixed income portfolios, making them more appealing to both institutional and retail investors.

The increasing complexity and diversity of fixed income products is also contributing to market growth. The fixed income market has evolved to include a wide range of instruments beyond traditional government and corporate bonds. Products such as mortgage-backed securities, municipal bonds, and various structured financial instruments offer different risk-return profiles and investment opportunities. This diversification allows asset managers to tailor portfolios to meet specific client needs and preferences, thereby attracting a broader investor base. The development of innovative fixed income products continues to drive growth in this market by expanding the range of investment options available.

In the realm of private equity, the PE Fund Management Fee plays a crucial role in shaping the investment landscape. These fees are typically charged by fund managers to cover the operational costs of managing the fund, including research, administration, and portfolio management. The structure of these fees can vary, often comprising a management fee based on the committed capital and a performance fee tied to the fund's returns. Understanding the intricacies of these fees is essential for investors, as they can significantly impact the net returns on their investments. As private equity continues to grow as an asset class, the transparency and justification of management fees are becoming increasingly important to investors seeking to maximize their returns while ensuring alignment of interests with fund managers.

From a regional perspective, North America remains the largest market for fixed income asset management, driven by the presence of a well-established financial industry, a large pool of institutional investors, and a high level of individual wealth. However, the Asia Pacific region is expected to exhibit the highest growth rate during the forecast period. Rapid economic growth, increasing financial literacy, and a burgeoning middle class are driving demand for fixed income investments in countries such as China and India. Additionally, regulatory reforms aimed at developing local bond markets and attracting foreign investment are further propelling the market in this region.

Asset Type Analysis

The fixed income asset management market can be categorized by asset type into government bonds, corporate bonds, municipal bonds, mortgage-backed securities, and others. Each of these asset types offers unique characteristics and appeals to different segments of investors, contributing to the overall growth and diversification of the market.

Government bonds are one of the most significant segments in the fixed income market. Issued by national governments, these bonds are considered low-risk investments due to the backing of the issuing g

The yield on India 10Y Bond Yield eased to 6.48% on September 12, 2025, marking a 0.01 percentage point decrease from the previous session. Over the past month, the yield has edged up by 0.03 points, though it remains 0.30 points lower than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. India 10-Year Government Bond Yield - values, historical data, forecasts and news - updated on September of 2025.

Government Bond Yield: Daily: 10 Years data was reported at 7.300 % in 03 Jul 2019. This records an increase from the previous number of 7.240 % for 02 Jul 2019. Government Bond Yield: Daily: 10 Years data is updated daily, averaging 10.410 % from Jan 2016 (Median) to 03 Jul 2019, with 852 observations. The data reached an all-time high of 16.890 % in 26 Jan 2016 and a record low of 7.240 % in 02 Jul 2019. Government Bond Yield: Daily: 10 Years data remains active status in CEIC and is reported by National Treasury Secretariat. The data is categorized under Brazil Premium Database’s Interest and Foreign Exchange Rates – Table BR.MI001: Government Bonds Yield. Public Title name: NTN-F 2027 Available rate for the investor to resell the title to the National Treasury. The selling rate is always slightly higher than the purchase rate to protect National Treasury from fluctuations between one pricing and another. Disclose only the selling price at opening.

The global high-yield bonds market size reached approximately USD 5.31 Trillion in 2024. The market is projected to grow at a CAGR of 4.30% between 2025 and 2034, reaching a value of around USD 8.09 Trillion by 2034.

Key information about US Short Term Government Bond Yield

• United States Short Term Government Bond Yield: Daily: United States: 1 Year was reported at 4.09 % pa in Mar 2025, compared with 4.11 % pa in the previous day.
• US Short Term Government Bond Yield data is updated daily, available from Jan 1962 to Mar 2025.
• The data reached an all-time high of 5.49 % pa in Oct 2023 and a record low of 0.04 % pa in Jun 2021.
• Short Term Government Bond Yield is reported by CEIC Data.

View data of the effective yield of an index of non-investment grade publically issued corporate debt in the U.S.

Key information about EU Short Term Government Bond Yield

• European Union Short Term Government Bond Yield: Month Avg: Euro Area: 2 Years was reported at 2.23 % pa in Feb 2025, compared with 2.38 % pa in the previous month.
• EU Short Term Government Bond Yield data is updated monthly, available from Jan 1970 to Feb 2025.
• The data reached an all-time high of 13.56 % pa in Feb 2012 and a record low of -0.65 % pa in Nov 2021.
• Short Term Government Bond Yield is reported by CEIC Data.

The yield on Romania 10Y Bond Yield eased to 7.59% on September 12, 2025, marking a 0.16 percentage point decrease from the previous session. Over the past month, the yield has edged up by 0.24 points and is 0.70 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. Romania 10-Year Government Bond Yield - values, historical data, forecasts and news - updated on September of 2025.

As of 2023, the United States had the largest bond market worldwide, accounting for nearly 40 percent of the total. The European Union was second in the ranking, accouting for almost one fifth of the total outstanding value of corporate and government bonds worldwid, followed by China with 16.3 percent.

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.