The instruments and their indicative prices.
Prices come from the catalog or the live feed; the trading price appears in SuperTrader.
- US10YUS Ten-Year Note112.450
- US30YUS Thirty-Year Bond117.800
- DE10YGerman Ten-Year Bund130.150
- UK10YUK Ten-Year Gilt93.600
Prices are indicative.
4 instruments here, the whole bond class in the platform. 8 markets and 1,250+ instruments, in one account.
All bond instruments
How the bond market works.
The price of government debt; it moves against the interest rate.
Price and yield
A bond's price and its yield move in opposite directions: when rate expectations rise the price falls, when they fall the price rises. You take a position on the price.
Maturity and sensitivity
A ten-year bond reacts to the same rate change harder than a short-dated one, a thirty-year harder still. A longer maturity means a bigger price move.
What moves the price
Central bank meetings, inflation and jobs data, treasury auctions and risk appetite. In uncertain times demand for government bonds rises and so does the price.
Rollover
Bond CFDs follow the price of a futures contract; at expiry the price moves to the next one and open positions receive an adjustment. You receive no coupon.
Hours
They follow the hours of the futures markets they track; US and European bonds open at different times. The hours are in the instrument details.
Cost and margin
The gap between the sell and buy price shows before the order; a position held overnight carries a financing charge. Bonds move in small steps; leverage enlarges those steps, and the margin shows before you confirm.
The dates that move this market.
The events on the economic calendar that touch this class's price the most.
Central bank meetings
The rate decision and the forward guidance set the bond yield directly; the price reacts the other way.
Inflation data
Inflation above expectations raises rate expectations and lowers the bond price.
Treasury auctions
The strength of demand at new issues shows in long-dated bond prices the same day.
Frequently asked questions
Do I receive coupon payments on a bond CFD?
No. A CFD closes on the price difference only; you do not own the bond, so there is no coupon.
Why do bond prices fall when rates rise?
New bonds come with a higher rate, so older bonds with a lower rate become less attractive and their prices fall.
Which bonds are available?
US ten- and thirty-year, German ten-year and UK ten-year government bonds. The list is written in the instrument details on the platform.
The call is yours.
No rush. The prices and the terms are here; when you are ready, sign-up is in the secure client area.