German state debt securities yield, 2 to 3 years
German state debt securities yield, 2 to 3 years stood at 3.47% on Oct 19, 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 19, 2026. The complete series with an interactive chart, free to download.
This indicator in the Bond yields and yield curves (daily) table
| Indicator | 19-10-2026 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Yields on State Debt Securities outstanding | |||||||||||
| Debt Securities outstanding, Residual maturity of more than 2 but not more than 3 years | 3.47 | 3.45 | 3.44 | 3.47 | 3.47 | 3.47 | 3.46 | 3.48 | 3.48 | 3.45 | |
| Debt Securities outstanding, Residual maturity of more than 3 but not more than 4 years | 3.52 | 3.5 | 3.48 | 3.54 | 3.53 | 3.54 | 3.53 | 3.57 | 3.56 | 3.52 |
Understanding german state debt securities yield, 2 to 3 years
Returns on regional statutory obligations transitioning into the medium-term space are tracked in this index, which isolates state debt securities holding a residual maturity of more than two but not more than three years. This segment specifically excludes the immediate money-market proxy of the one-to-two-year band and the longer-term structural debt of regional authorities. The underlying securities consist entirely of regional government issuances, systematically discarding federal paper, municipal bonds, and banking sector obligations. By zeroing in on the thirty-six-month horizon, the calculation provides a distinct window into how markets price sub-sovereign risk just beyond the direct influence of immediate monetary policy cycles.
Evaluating yields in the two-to-three-year bracket requires recognizing its role as a transition zone on the maturity spectrum. The securities here are highly sensitive to shifting expectations regarding future monetary tightening or easing cycles, often exhibiting more pronounced daily repricing than the heavily anchored short end. Market participants usually read this series alongside the corresponding federal segment to monitor changes in the regional credit premium over the medium term. When analyzing historical daily values, users must account for the mechanical churn of the basket, as bonds continuously enter from the three-to-four-year bucket and exit into shorter bands, occasionally causing slight structural breaks in the aggregate yield separate from pure trading activity.
Frequently asked questions
- Are corporate obligations included in the two-to-three-year bracket?
- The scope is strictly limited to regional government debt, leaving all private sector and banking securities out of the basket.
- Does the initial duration of the bond matter for inclusion?
- No, any regional government obligation currently possessing the required remaining lifespan is included, regardless of its original term.
- What drives the daily fluctuations in this specific maturity?
- Movements in this intermediate zone are primarily fueled by shifts in intermediate rate expectations and evolving risk appetite for sub-sovereign debt.