German Bund 2-year Yield (Daily)

## What this measures

The 2-year point on the German government yield curve: the yield of a zero-coupon Bund of exactly 2-year to maturity, estimated by the Bundesbank each trading day with the Svensson method from the prices of listed Federal securities. Percent per year.

## Why it matters

The two-year Bund (the Schatz) is the euro area's policy-expectations benchmark, the counterpart of the U.S. 2-year Treasury.

## How to read it

Higher means the market expects tighter ECB policy over two years. A high of 5.32% on 21 August 2000, a low of -1.02% on 12 March 2020 (the lowest in records back to 1997) and 3.08% on 8 October 2026. Read against the 10-year for the curve slope.

## What it does not say

It is an estimated zero-coupon yield, not the quoted yield of any single bond, and the Bundesbank revises recent estimates. Before August 1997 the Bundesbank published month-end values only; this series starts with the daily record on 7 August 1997. Non-trading days are blank.

## Source

Deutsche Bundesbank, time series database, "Term structure of interest rates on listed Federal securities (Svensson method)", 2-year residual maturity, daily values (series BBSIS/D.I.ZST.ZI.EUR.S1311.B.A604.R02XX.R.A.A._Z._Z.A). Palanor reads it from the Bundesbank SDMX REST API every weekday and rewrites the last 60 days so revisions carry through.

Source: Deutsche Bundesbank. Reused under the ESCB terms for the reuse of statistics as published by the Bundesbank: "All publicly available ESCB statistics may be reused free of charge on the condition that the source is quoted … and that the statistics (including metadata) are not modified."