German government bond yield, 22-year maturity
German government bond yield, 22-year maturity stood at 3.85% in Sep 2026, according to Deutsche Bundesbank. It is one of the indicators in the Interest rates (monthly) table (Value · Monthly), with a complete series running from Jan 2000 to Sep 2026. The complete series with an interactive chart, free to download.
This indicator in the Interest rates (monthly) table
| Indicator | 09-2026 | 08-2026 | 07-2026 | 06-2026 | 05-2026 | 04-2026 | 03-2026 | 02-2026 | 01-2026 | 12-2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Government yield curve: month-end estimates | |||||||||||
| Residual maturity of 22.0 years, monthly data | 3.85 | 3.69 | 3.55 | 3.3 | 3.4 | 3.5 | 3.39 | 3.23 | 3.37 | 3.36 | |
| Residual maturity of 23.0 years, monthly data | 3.86 | 3.71 | 3.56 | 3.32 | 3.41 | 3.51 | 3.4 | 3.25 | 3.39 | 3.37 |
Understanding german government bond yield, 22-year maturity
Situated deep within the extended duration landscape, this specific metric evaluates the theoretical financing cost for the national sovereign over a 22.0-year horizon. The calculation synthesizes the prevailing market prices of straight, fixed-coupon federal bonds, deliberately avoiding the inclusion of specialized debt or bonds approaching maturity to maintain estimation integrity. Unlike the more congested benchmark nodes, this exact segment illustrates the true cost of prolonged capital commitment without the distortion of futures-market hedging activities that often concentrate on standardized tenors. It measures solely the time value of money and sovereign term premium.
The recorded data represents the finalized state of the bond market at the close of the month, making it inherently non-seasonal, as capital market returns respond to fiscal outlooks rather than weather or cyclical consumption. Month-to-month comparisons are the most effective method for identifying rapid shifts in the macroeconomic consensus, whereas annual evaluations often obscure intermediate pivots in central bank messaging. Because this is a mathematically fitted value rather than a directly observed trade, the parameters governing the curve model can occasionally undergo technical recalibrations, leading to minor historical adjustments. It is important to separate this continuous sovereign measure from similarly dated swaps, which incorporate banking sector risk.
Frequently asked questions
- Is the 22-year residual maturity determined by tracking one specific bond?
- No, it is calculated using a mathematical formula that fits a curve through the yields of multiple outstanding government bonds.
- What happens if there is no actual sovereign bond maturing in exactly 22 years?
- The curve-fitting methodology interpolates the correct yield based on the pricing of bonds maturing both before and after this horizon.
- Are these monthly figures adjusted for seasonal economic variations?
- Financial market yields are not seasonally adjusted because they instantly price in forward-looking expectations rather than historical cyclicality.