Bund

The Bund is the German government bond (Treasury bond) that serves as a benchmark in the European bond market. Germany, benefiting from one of the highest ratings assigned by rating agencies, is considered the safest issuer; consequently, its rates are the lowest in the eurozone.

It is from its 10-year issuance rate level that the spread demanded by financial markets to subscribe to the issuances of other eurozone states is observed. The 10-year Bund futures contract is the most liquid in Europe.