The yield on the 10-year Swiss government bond was at the 0.2% mark in late January, losing nearly 10bps since the start of the year to the lowest in nearly eight weeks as the latest economic developments favor a backdrop for the Swiss National Bank to remain accommodative in the medium term. The headline inflation rate was at 0.1% in December, remaining under the average from the year and well below the change in Switzerland's Eurozone neighbors. In the meantime, the last GDP data reflected a 0.5% contraction in the third quarter amid the impact of tariffs from the US. Also strengthening the argument for lower borrowing costs, the franc appreciated to a decade high amid the influx of foreign investors pivoting to a haven currency as the dollar plunges. While SNB policymakers indicated reservations in cutting rates to the negative territory, a small portion of the market has positioned for a rate cut by June.

The yield on Switzerland 10Y Bond Yield rose to 0.24% on February 2, 2026, marking a 0.03 percentage points increase from the previous session. Over the past month, the yield has fallen by 0.04 points and is 0.09 points lower than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. Historically, the Switzerland 10-Year Government Bond Yield reached an all time high of 5.63 in September of 1994. Switzerland 10-Year Government Bond Yield - data, forecasts, historical chart - was last updated on February 3 of 2026.

The yield on Switzerland 10Y Bond Yield rose to 0.24% on February 2, 2026, marking a 0.03 percentage points increase from the previous session. Over the past month, the yield has fallen by 0.04 points and is 0.09 points lower than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. The Switzerland 10-Year Government Bond Yield is expected to trade at 0.19 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 0.10 in 12 months time.



Bonds Yield Day Month Year Date
Switzerland 10Y 0.24 0.028% -0.040% -0.086% Feb/02
Switzerland 2Y -0.09 0.031% -0.045% -0.160% Feb/02



Related Last Previous Unit Reference
Switzerland Inflation Rate 0.10 0.00 percent Dec 2025
Switzerland Interest Rate 0.00 0.00 percent Dec 2025
Switzerland Unemployment Rate 3.10 2.90 percent Dec 2025

Switzerland 10-Year Government Bond Yield
Generally, a government bond is issued by a national government and is denominated in the country`s own currency. Bonds issued by national governments in foreign currencies are normally referred to as sovereign bonds. The yield required by investors to loan funds to governments reflects inflation expectations and the likelihood that the debt will be repaid.
Actual Previous Highest Lowest Dates Unit Frequency
0.24 0.21 5.63 -1.17 1994 - 2026 percent Daily

News Stream
Swiss 10-Year Yield Falls 10bps in January
The yield on the 10-year Swiss government bond was at the 0.2% mark in late January, losing nearly 10bps since the start of the year to the lowest in nearly eight weeks as the latest economic developments favor a backdrop for the Swiss National Bank to remain accommodative in the medium term. The headline inflation rate was at 0.1% in December, remaining under the average from the year and well below the change in Switzerland's Eurozone neighbors. In the meantime, the last GDP data reflected a 0.5% contraction in the third quarter amid the impact of tariffs from the US. Also strengthening the argument for lower borrowing costs, the franc appreciated to a decade high amid the influx of foreign investors pivoting to a haven currency as the dollar plunges. While SNB policymakers indicated reservations in cutting rates to the negative territory, a small portion of the market has positioned for a rate cut by June.
2026-01-28
Swiss 10-Year Bond Yield Edges Down
The Swiss 10-year government bond yield eased to around 0.26%, from two-week highs of 0.29% hit on January 21, as safe-haven demand waned following President Trump’s withdrawal of tariff threats linked to Greenland. Trump said in Davos he had secured a framework agreement on Greenland with NATO, satisfying his objectives on missile defense and access to strategic minerals. He emphasized that the US would not take the island by force and canceled threatened tariffs on European nations set to start February 1. However, risks persist, as Denmark reiterated that it would not negotiate ceding its territory to the US, while European lawmakers put the July EU–US trade agreement on hold. Meanwhile, Swiss National Bank (SNB) Chairman Martin Schlegel said at the World Economic Forum in Davos that Swiss inflation could turn negative in some months in 2026, but stressed this would not be a problem for the central bank, which remains focused on medium-term price stability.
2026-01-22
Swiss 10-Year Bond Yield Edges Up
The Swiss 10-year government bond yield rose to around 0.27%, as Trump’s tariff threats on European nations over Greenland stoked geopolitical tensions and drove safe-haven buying. President Trump has vowed to impose fresh tariffs on European countries, including major economies such as France, Germany, and the United Kingdom, that oppose the US acquisition of Greenland. The proposed tariffs are set to escalate, starting at 10% on February 1 and rising to 25% by June. Meanwhile, investor attention turns to the WEF in Davos from January 20, with speeches from global central bankers, including Swiss National Bank Chairman Martin Schlegel. Expectations remain that the SNB will maintain its 0% key rate in foreseeable future, with December meeting minutes signaling no need for immediate policy changes. Swiss CPI rose 0.1% year-on-year in December, the first increase since July, and is projected to rise gradually in the coming months.
2026-01-19