Market reference date: 21 September 2026.
The Belgian ten-year government rate was approximately 4.10%, the EUR ten-year mid-swap approximately 3.48% to 3.50%, and the Belgian prime logistics yield approximately 4.90% in Q2 2026.
Indicative spreads
- Prime logistics yield minus Belgian 10-year rate: approximately 80 basis points
- Prime logistics yield minus EUR 10-year swap: approximately 140 basis points
Interpretation
- The OLO is a sovereign reference. The swap is commonly relevant to fixing or hedging debt. The property yield represents an unlevered income return. These measures must be assessed alongside credit margins, costs, leases, tenant quality, capex and risk.
CEUSTERS’ perspective
- Yield spreads are useful but do not replace asset-level underwriting.
Key facts
| Belgian 10-year rate | Approximately 4.10% |
|---|---|
| EUR 10-year swap | Approximately 3.48%-3.50% |
| Prime logistics yield | Approximately 4.90% |
| Spread to OLO | Approximately 80 bps |
| Spread to swap | Approximately 140 bps |
FAQ
-
A linear bond issued by the Belgian government.
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The fixed rate exchanged against floating payments in an interest-rate swap.
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No, it is a comparative market metric.
Disclaimer
Rates and yields fluctuate. This is general market insight, not investment or financing advice.
Related expertise
- Logistics Investment
- Real-Estate Capital Markets
- Valuation Advisory
- Debt and Yield Analysis