German state debt securities yield, 1 to 2 years
German state debt securities yield, 1 to 2 years stood at 3.32% on Oct 16, 2026, according to Deutsche Bundesbank. It is one of the indicators in the Bond yields and yield curves (daily) table (Value · Daily), with a complete series running from Jan 3, 2011 to Oct 16, 2026. The complete series with an interactive chart, free to download.
This indicator in the Bond yields and yield curves (daily) table
| Indicator | 16-10-2026 | 15-10-2026 | 14-10-2026 | 13-10-2026 | 12-10-2026 | 09-10-2026 | 08-10-2026 | 07-10-2026 | 06-10-2026 | 05-10-2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Yields on State Debt Securities outstanding | |||||||||||
| Debt Securities outstanding, Residual maturity of more than 1 but not more than 2 years | 3.32 | 3.36 | 3.34 | 3.38 | 3.39 | 3.32 | 3.37 | 3.38 | 3.38 | 3.38 | |
| Debt Securities outstanding, Residual maturity of more than 2 but not more than 3 years | 3.45 | 3.44 | 3.47 | 3.47 | 3.47 | 3.46 | 3.48 | 3.48 | 3.45 | 3.46 |
Understanding german state debt securities yield, 1 to 2 years
Focusing strictly on the immediate horizon for regional government funding, this specific series calculates the market return on state debt securities with a residual maturity of more than one but not more than two years. The underlying basket filters out the vast majority of outstanding regional bonds, isolating only those obligations approaching the final phase of their lifecycle. It differs from both the aggregate state debt index and longer-term equivalents by eliminating duration risk almost entirely. The metric is insulated from municipal and federal paper, tracking only the instruments issued by regional authorities that will mature within the next twenty-four months.
Reading the short-end of the regional curve involves understanding its heavy tether to central bank policy rather than long-term economic growth expectations. Because these bonds are so close to maturity, their secondary market pricing exhibits minimal daily volatility and heavily tracks prevailing short-term interest rate decisions. Analysts routinely compare this specific band against identical duration federal paper to extract a pure liquidity and credit spread, unpolluted by duration risk. Users should avoid comparing this series directly against freshly issued long-term debt, as the securities here are typically older bonds that have naturally aged into the one-to-two-year window, meaning their trading volume and liquidity profiles have evolved significantly since their initial launch.
Frequently asked questions
- Do these figures represent newly issued two-year notes?
- Not necessarily; the series captures any outstanding regional bond that has rolled down the curve to have between one and two years left.
- Is this yield primarily driven by inflation forecasts?
- Short-end returns are much more heavily influenced by immediate monetary policy expectations than by long-term inflation dynamics.
- Can this be used to gauge regional default risk?
- While it incorporates a credit spread, the very short time to maturity means liquidity factors often dominate the pricing more than pure solvency concerns.