European Stability Mechanism Bond Yields (EUR)
Fitted spot curve as of 2026-10-07
https://bondscovery.com/yield-curve/esm-bonds
European Stability Mechanism Bond Yields (EUR) as of 2026-10-07: 10Y at 3.83%, fitted curve 3M–30Y (2.83%–4.03%), 23 bonds. Live chart, constituents and forward rates on bondScovery.
Also quoted as ESM bond yields, ESM bonds and ESM yield curve. The curve below is fitted across 23 European Stability Mechanism issues, from the shortest bill to the longest bond, and rebuilt with every daily build.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 3M | 2.83% | — |
| 6M | 2.87% | 2.91% |
| 9M | 2.91% | 3.00% |
| 12M | 2.95% | 3.08% |
| 18M | 3.04% | 3.28% |
| 2Y | 3.12% | 3.28% |
| 3Y | 3.27% | 3.58% |
| 5Y | 3.51% | 3.92% |
| 6Y | 3.61% | 4.14% |
| 7Y | 3.68% | 4.21% |
| 8Y | 3.75% | 4.25% |
| 9Y | 3.79% | 4.26% |
| 10Y | 3.83% | 4.24% |
| 15Y | 3.92% | 4.17% |
| 20Y | 4.01% | 4.42% |
| 30Y | 4.03% | 4.08% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 3.12% and the 10-year 3.83%, a 10Y−2Y spread of +72 bp — positively sloped — as of 2026-10-07. The chart and table below track how they have moved.
Fitted 2Y and 10Y yields and their spread, sampled one build date per month. See all inverted curves today →
| Tenor | Latest2026-10-07 | 1m ago2026-09-07 | 2m ago2026-08-07 | 3m ago2026-07-09 | 4m ago2026-06-09 | 5m ago2026-05-11 | 6m ago2026-04-10 |
|---|---|---|---|---|---|---|---|
| 2Y | 3.12% | 3.11% | 2.82% | 2.71% | 2.73% | 2.70% | 2.69% |
| 10Y | 3.83% | 3.64% | 3.35% | 3.31% | 3.32% | 3.27% | 3.30% |
| 10Y − 2Y | +72 bp | +53 bp | +53 bp | +61 bp | +59 bp | +57 bp | +61 bp |
Bonds in this curve
The 25 bonds behind this curve. Greyed rows carry an older quote.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| ESM | 2.36% | 2026-11-05 | 0.00% | EU000A4DMLY0 |
| ESM | 2.55% | 2026-12-03 | 0.00% | EU000A4DMLZ7 |
| ESM | 1.57% | 2026-12-15 | 0.00% | EU000A1Z99N4 |
| ESM | 2.83% | 2027-03-15 | 0.75% | EU000A1Z99B9 |
| ESM | 3.23% | 2027-06-23 | 1.00% | EU000A1Z99Q7 |
| ESM | 2.43% | 2027-09-30 | 2.38% | EU000A1Z99V7 |
| ESM | 3.16% | 2028-03-15 | 3.00% | EU000A1Z99R5 |
| ESM | 2.64% | 2028-09-05 | 0.75% | EU000A1Z99F0 |
| ESM | 3.19% | 2028-11-17 | 2.12% | EU000A1Z99X3 |
| ESM | 3.31% | 2029-03-05 | 0.50% | EU000A1Z99H6 |
| ESM | 3.39% | 2029-09-18 | 2.62% | EU000A1Z99T1 |
| ESM | 3.41% | 2030-03-04 | 0.01% | EU000A1Z99L8 |
| ESM | 3.51% | 2031-06-02 | 2.75% | EU000A1Z99Z8 |
| ESM | 3.49% | 2031-10-15 | 0.01% | EU000A1Z99P9 |
| ESM | 3.48% | 2032-05-03 | 1.12% | EU000A1U9969 |
| ESM | 3.60% | 2033-05-23 | 1.20% | EU000A1Z99D5 |
| ESM | 3.62% | 2033-08-23 | 3.00% | EU000A1Z99S3 |
| ESM | 3.62% | 2034-09-15 | 2.75% | EU000A1Z99U9 |
| ESM | 3.73% | 2035-02-26 | 2.75% | EU000A1Z99W5 |
| ESM | 3.77% | 2036-02-25 | 3.00% | EU000A1Z99Y1 |
| ESM | 4.00% | 2036-11-17 | 1.62% | EU000A1U9928 |
| ESM | 3.98% | 2042-07-18 | 0.88% | EU000A1U9977 |
| ESM | 4.04% | 2045-10-20 | 1.75% | EU000A1U9902 |
| ESM | 4.07% | 2046-11-02 | 1.80% | EU000A1Z99A1 |
| ESM | 3.94% | 2055-12-01 | 1.85% | EU000A1U9936 |