PSX · POLICY RATE
11.00%
GOVERNMENT YIELD CURVE · PKR · PREVIEW
3M
11.10%
−8.40 vs 1Y
1Y
11.50%
−6.90 vs 1Y
5Y
12.50%
−3.30 vs 1Y
10Y
13.00%
−2.20 vs 1Y
01 / Pakistan Government CurveAS OF 22 JUN 2026 · EOD
NOW 1M AGO 1Y AGO
02 / Rates Note
FAS DESK · FIRST ASIA SECURITIES RESEARCH · 22 JUN 2026 · EOD
Curve grinds lower as the easing cycle matures
Yields sit far below a year ago — the 10Y PIB near 13.0% versus ~15.2% twelve months back — as disinflation let the SBP take the policy rate to 11.0%.
The curve is mildly upward-sloping; the front end tracks the policy rate while the long end prices a slower path of further cuts.
Preview market — figures shown are illustrative until the live fixed-income feed is connected.
— GENERATED BY FIRST ASIA SECURITIES · NOT INVESTMENT ADVICE
03 / Government SecuritiesALL BONDS & SUKUK →
| Instrument | Type | Coupon | Maturity | YTM ▼ | Price | Spread | Dur | Rating |
|---|---|---|---|---|---|---|---|---|
| Pakistan Investment Bond 10YPKR | Sovereign | 13.00% | 2036 | 13.00% | 100.0 | — | 6.8 | AAA (gov) |
| Pakistan Investment Bond 5YPKR | Sovereign | 12.50% | 2031 | 12.50% | 100.0 | — | 4.1 | AAA (gov) |
| Pakistan Investment Bond 3YPKR | Sovereign | 12.00% | 2029 | 12.10% | 99.7 | — | 2.6 | AAA (gov) |
| GoP T-Bill 12MPKR | T-Bill | — | 2027 | 11.50% | 89.7 | — | 1.0 | AAA (gov) |
| GoP T-Bill 6MPKR | T-Bill | — | 2026 | 11.30% | 94.7 | — | 0.5 | AAA (gov) |
| Pakistan 7.375% 2031USD | Sovereign | 7.38% | 2031 | 9.80% | 88.2 | 560 | 4.5 | CCC+ |