Report’s Analytical Group has monitored the annual YTM of the state bonds issued in different countries.
The monitoring revealed that Venezuela is the country which promises the most revenue from investments in debt instruments.
Annual YTM of the government bonds in Venezuela, which has been facing political and economic crisis and hyperinflation in the recent times, is 92,871.4% and no country has a debt instrument with such a giant YTM.
However, the margin of income from securities is too high in some countries including Argentine (21.3-32.4%), Ukraine (16.7-19.2%), Turkey (15.1-19.2%), Egypt (16.1-17.7%), Uganda (9.2-16.3%), Nigeria (10.6-14.3%), Pakistan (10.6-13.6%), Kenya (3.7-13.2%), Sri-Lanka (9.6-11.5%) and Namibia (7.4-11.3%).
Annual YTM of government bonds in some countries ranges between 0% to 10%. Along with this, the bond interests in 17 European countries, as well as Japan, are negative. This means that those countries do not need to borrow.
| № | Country | Annual YTM on government bonds |
| America | ||
| 1 | USA | 2.4 – 3.1% |
| 2 | Argentine | 21.3 – 32.4% |
| 3 | Brazil | 6.3 – 8.9% |
| 4 | Chile | 3.3% - 4.3% |
| 5 | Canada | 1.6 – 2.1% |
| 6 | Columbia | 4.7 – 7.0% |
| 7 | Mexico | 7.9 – 8.5% |
| 8 | Peru | 4.4 – 6.1% |
| 9 | Venezuela | 7.9 – 92,571.4% |
| Europe | ||
| 10 | Germany | - 0.6 – 0.8% |
| 11 | Austria | - 0.5 – 1.3% |
| 12 | Belgium | - 0.5 – 1.3% |
| 13 | Bulgaria | - 0.5 – 0.7% |
| 14 | Great Britain | 0.5 – 1.7% |
| 15 | Czech Republic | 1.7 – 2.9% |
| 16 | Denmark | - 0.6 – 1.0% |
| 17 | Finland | - 0.5 – 1.0% |
| 18 | France | - 0.6 – 1.7% |
| 19 | Croatia | 0.0 – 2.0% |
| 20 | Ireland | - 0.5 – 1.6% |
| 21 | Iceland | 4.8 – 5.0% |
| 22 | Spain | - 0.4 – 2.3% |
| 23 | Sweden | - 0.4 – 1.0% |
| 24 | Switzerland | - 1.0 – 0.3% |
| 25 | Italy | - 0.3 – 3.6% |
| 26 | Cyprus | 0.3 – 1.8% |
| 27 | Latvia | 0.1 – 0.5% |
| 28 | Lithuania | 0.3 – 1.2% |
| 29 | Hungary | 0.2 – 3.8% |
| 30 | Malta | - 0.3 – 1.8% |
| 31 | Netherlands | - 0.6 – 0.8% |
| 32 | Norway | 1.1 – 2.5% |
| 33 | Poland | 1.3 – 2.9% |
| 34 | Portugal | - 0.4 – 2.4% |
| 35 | Romania | 2.7 – 4.9% |
| 36 | Russia | 7.6 – 8.6% |
| 37 | Serbia | 2.9 – 4.5% |
| 38 | Slovakia | - 0.3 – 1.4% |
| 39 | Slovenia | - 0.3 – 0.8% |
| 40 | Turkey | 15.1 – 19.2% |
| 41 | Ukraine | 16.7 – 19.2% |
| 42 | Greece | 1.0 – 4.8% |
| Mideast | ||
| 43 | Bahrain | 4.2 – 5.8% |
| 44 | Jordan | 3.7 – 6.9% |
| 45 | Israel | 0.3 – 3.3% |
| 46 | Qatar | 3.3 – 3.9% |
| 47 | Egypt | 16.1 – 17.7% |
| Asia – Pacific Ocean | ||
| 48 | Australia | 1.6 – 2.6% |
| 49 | Bangladesh | 3.4 – 8.5% |
| 50 | South Korea | 1.8 – 2.0% |
| 51 | China | 2.4 – 3.8% |
| 52 | Philippines | 5.2 – 6.4% |
| 53 | India | 6.4 – 7.8% |
| 54 | Hong Kong | 0.7 – 1.8% |
| 55 | Indonesia | 5.9 – 8.6% |
| 56 | Malaysia | 3.3 – 4.7% |
| 57 | Pakistan | 10.6 – 13.6% |
| 58 | Singapore | 1.9 – 2.6% |
| 59 | Sri-Lanka | 9.6 – 11.5% |
| 60 | Thailand | 1.7 – 3.1% |
| 61 | Taiwan | 0.6 – 1.3% |
| 62 | Vietnam | 3.0 – 4.8% |
| 63 | Japan | - 0.2 – 0.6% |
| 64 | New Zealand | 1.7 – 2.4% |
| Africa | ||
| 65 | Botswana | 1.7 – 5.0% |
| 66 | South Africa | 6.8 – 9.7% |
| 67 | Kenya | 3.7 – 13.2% |
| 68 | Mauritius | 3.2 – 6.1% |
| 69 | Morocco | 2.4 – 3.7% |
| 70 | Namibia | 7.4 – 11.3% |
| 71 | Nigeria | 10.6 – 14.3% |
| 72 | Uganda | 9.2 – 16.3% |
Annual YTM of Azerbaijan's Eurobonds, which will be in circulation until 2024, is 4.75%.