Business development

Interest rate environment

YIELD ON TEN-YEAR GERMAN FEDERAL BONDS / %

2021

2020

Change
(percentage
points)

Average yield

–0.31

–0.48

+0.17

Highest yield

–0.06

–0.14

+0.08

Lowest yield

–0.62

–0.91

+0.29

Year-end yield

–0.18

–0.58

+0.40

Source: Thomson Reuters

Yields in the Eurozone were no longer at the historical lows they had reached in 2020, but still remained very low. High inflation rates in the second half of 2021 raised the interest rate somewhat. However, the bond purchasing programs of central banks significantly curbed the impact of this.

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