Luxembourg government bonds
Luxembourg's bonds as US funds mark them in their filings (SEC Form N-PORT), by currency. Fund marks as of Jul 2026; they lag the market by about two months.
By currency
| Bonds | Measured against | Count | Spread | 10-year spread | Priced-in 5y odds | 1-month change | Median yield | Held by US funds |
|---|---|---|---|---|---|---|---|---|
| EUR Euro members, euro bonds (vs German Bunds) | vs German Bunds | 6 | 16 bp | — | 1.3% | -4 bp | 3.17% | $59.9M |
| USD Developed markets, US-dollar bonds | vs US Treasuries | 1 | n/a | — | — | — | — | $2.8M |
Priced-in odds = spread ÷ (1 − 40% recovery) over five years; it includes a risk premium and overstates actual defaults. Own-currency bonds get a yield and no odds: a government can print its own currency.
EUR spread history
Median spread vs German Bunds, month-ends with complete filings. Fund-reported.
Luxembourg's EUR curve
Yield to maturity of each EUR bond US funds hold (61 bonds, government and government-related issuers, index-linked excluded), Jul 2026 fund marks. Hover a point for the bond.
Luxembourg's USD curve
Yield to maturity of each USD bond US funds hold (7 bonds, government and government-related issuers, index-linked excluded), Jul 2026 fund marks. Hover a point for the bond.
Who holds Luxembourg's debt
Fund series holding Luxembourg's government and government-related bonds in their latest quarterly report: 401 now, 406 a quarter earlier. Names as reported in the filings.
| Fund series | Report | Bonds | Face value | Value |
|---|---|---|---|---|
| VANGUARD TOTAL INTERNATIONAL BOND II INDEX FUND | 2026-07-31 | 40 | $1.26B | $1.35B |
| VANGUARD TOTAL INTERNATIONAL BOND INDEX FUND | 2026-07-31 | 40 | $1.06B | $1.11B |
| PIMCO Income Fund | 2026-06-30 | 1 | $969.4M | $974.5M |
| Bond Fund of America | 2026-06-30 | 2 | $784.0M | $788.2M |
| American Balanced Fund | 2026-06-30 | 1 | $324.4M | $326.1M |
| Income Fund of America | 2026-07-31 | 2 | $286.2M | $286.1M |
| DFA FIVE-YEAR GLOBAL FIXED INCOME PORTFOLIO | 2026-07-31 | 2 | $232.5M | $263.7M |
| PIMCO International Bond Fund (U.S. Dollar-Hedged) | 2026-06-30 | 2 | $216.5M | $235.8M |
| VANGUARD SHORT-TERM INVESTMENT-GRADE FUND | 2026-07-31 | 1 | $221.7M | $221.3M |
| Lord Abbett Short Duration Income Fund | 2026-05-31 | 1 | $207.4M | $208.8M |
| DFA TWO-YEAR GLOBAL FIXED INCOME PORTFOLIO | 2026-07-31 | 3 | $103.5M | $118.5M |
| PIMCO Total Return Fund | 2026-06-30 | 1 | $116.0M | $116.6M |
| JPMorgan Core Bond Fund | 2026-05-31 | 1 | $94.9M | $95.4M |
| American Funds Strategic Bond Fund | 2026-06-30 | 1 | $94.5M | $95.0M |
| The Bond Fund of America | 2026-06-30 | 2 | $83.3M | $83.7M |
| PIMCO Low Duration Income Fund | 2026-06-30 | 1 | $75.7M | $76.1M |
| iShares J.P. Morgan USD Emerging Markets Bond ETF | 2026-07-31 | 1 | $73.6M | $73.5M |
| PIMCO Emerging Markets Bond Fund | 2026-06-30 | 3 | $72.2M | $72.4M |
| iShares Core International Aggregate Bond ETF | 2026-07-31 | 54 | $66.7M | $70.2M |
| Bridge Builder Core Plus Bond Fund | 2026-06-30 | 1 | $68.2M | $68.5M |
ETFs holding Luxembourg's bonds
From each ETF's own latest N-PORT report, as a share of its net assets. A holdings list, not a recommendation.
| ETF | Report | Bonds | Value | % of net assets |
|---|---|---|---|---|
| BNDX VANGUARD TOTAL INTERNATIONAL BOND INDEX FUND | 2026-07-31 | 40 | $1.11B | 0.91% |
| EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | 2026-07-31 | 1 | $73.5M | 0.50% |
| IAGG iShares Core International Aggregate Bond ETF | 2026-07-31 | 54 | $70.2M | 0.63% |
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 1 | $68.0M | 0.31% |
| VWOB VANGUARD EMERGING MARKETS GOVERNMENT BOND INDEX FUND | 2026-07-31 | 2 | $59.0M | 0.88% |
| CGCB Capital Group Core Bond ETF | 2026-06-30 | 2 | $42.7M | 0.77% |
| NXUS Nuveen International Aggregate Bond ETF | 2026-06-30 | 12 | $31.3M | 0.81% |
| CGCP Capital Group Core Plus Income ETF | 2026-06-30 | 1 | $25.6M | 0.31% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 4 | $17.5M | 0.04% |
| SPSK Sp Funds Dow Jones Global Sukuk ETF | 2026-05-31 | 3 | $14.8M | 2.78% |
| USIG iShares Broad USD Investment Grade Corporate Bond ETF | 2026-05-31 | 1 | $13.9M | 0.08% |
| GTO Invesco Total Return Bond ETF | 2026-07-31 | 1 | $12.3M | 0.50% |
| BOND PIMCO Active Bond Exchange-Traded Fund | 2026-06-30 | 1 | $12.1M | 0.15% |
| DFGP Dimensional Global Core Plus Fixed Income ETF | 2026-07-31 | 5 | $9.2M | 0.27% |
| VCRB VANGUARD CORE BOND ETF | 2026-06-30 | 2 | $9.1M | 0.12% |
Sources: fund holdings and fund-reported marks from SEC Form N-PORT (published about 60 days after each month-end); 13F filings; House and Senate periodic transaction reports and OGE Form 278-T; Treasury yields from FRED. Findings from filings, not advice. How each number is computed.