Treasury Bonds
Sovereign debt market

Treasury Bonds

Every public country opens its bond programme with a first emission of 10,000 treasury bonds — private countries have no parliament to vote a loan, so they never issue any. Every bond in the world is worth the same: a face value of $0.10, paid in the issuer's own national currency at the exchange rate of the day the emission opened — so the price differs from country to country but the value never does. Each emission is a separate tranche with its own daily coupon rate and its own maturity date, so two bonds from the same country can pay differently and redeem on different days. Hold a bond and the state budget pays its emission's coupon every single day; when the emission matures the treasury buys it back at face value. Buy straight from the treasury or from other citizens, then hold for the coupon or list your own at any price you like. A country's credit rating climbs and falls with its budget — and if the treasury can no longer cover its coupons, it defaults on its debt until its finances recover.

DE

Germany

D · Default In default
In default

This treasury could not cover its coupon and has defaulted. Bond payments are suspended until the budget recovers above 100.

Credit rating
D
Default
$1,111.91
State budget
969.16
EUR · $1,111.91
Held by players
78
6 Holders
Paid per day
0.0171
EUR /day
Bonds issued
10,000
On market
9,922
Best ask
0.0879
EUR
Active emissions
1
0.25%/day

Order book

1 result(s)
DE
Germany D
$1,111.91
Primary · Emission #81 · Opening emission
Interest
0.25%/day
0.0002 EUR/day per bond
Maturity
Jul 24, 2027
Issued Jul 24, 2026
Price
0.0879 EUR
face 0.0879
Qty
9,922
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