German government bond yield, 26-year maturity
German government bond yield, 26-year maturity stood at 3.88% 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 26.0 years, monthly data | 3.88 | 3.74 | 3.6 | 3.36 | 3.45 | 3.55 | 3.43 | 3.28 | 3.42 | 3.4 | |
| Residual maturity of 27.0 years, monthly data | 3.89 | 3.75 | 3.61 | 3.37 | 3.46 | 3.55 | 3.44 | 3.29 | 3.43 | 3.4 |
Understanding german government bond yield, 26-year maturity
Extending deeply into the far end of the federal debt spectrum, this output calculates the precise zero-coupon yield for a 26-year horizon. The data point is generated by feeding the prices of all relevant outstanding national debt into a standardized mathematical model. This process filters out the varying coupon rates of actual market bonds, yielding an idealized, theoretical borrowing cost. It sits in a highly extended portion of the curve, offering a granular look at how investors price sovereign risk and time value well beyond standard timeframes.
Evaluating this series requires comparing the month-end snapshot against earlier periods to detect structural shifts in long-term fixed-income markets. Month-on-month changes are vastly more relevant than year-on-year calculations, as yield curves reprice continuously to incorporate forward-looking expectations. Because interest rates do not follow a calendar-based cycle, the data remains unadjusted for seasonality. Users must be careful not to mistake this derived figure for an actual tradable instrument, as the estimation process smooths over the specific liquidity constraints of individual bonds. Additionally, changes in the outstanding volume of exceptionally long-dated sovereign debt can influence the shape of the underlying curve in this region.
Frequently asked questions
- Why is the 26-year rate necessary when other long-term rates exist?
- It provides required granularity for liability-driven investors who must closely match the specific duration of their long-dated future payouts.
- Does the month-end estimate smooth out intraday market volatility?
- The figure represents a specific closing snapshot, meaning it captures the exact market conditions at that moment rather than an intraday average.
- Can tax effects distort this theoretical calculation?
- The model primarily focuses on gross market prices, so the resulting zero-coupon yield reflects pre-tax institutional pricing dynamics.