Australian Non-Callable Banks Corporate Bond Yields (AUD)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/aud-corporate-banks-non-callable
Australian Non-Callable Banks Corporate Bond Yields (AUD) as of 2026-07-27: 10Y at 6.17%, fitted curve 1M–20Y (5.27%–6.46%), 98 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 5.27% | — |
| 3M | 5.27% | 5.28% |
| 6M | 5.28% | 5.30% |
| 9M | 5.30% | 5.32% |
| 12M | 5.31% | 5.35% |
| 18M | 5.34% | 5.40% |
| 2Y | 5.37% | 5.47% |
| 3Y | 5.45% | 5.62% |
| 4Y | 5.56% | 5.86% |
| 5Y | 5.67% | 6.15% |
| 6Y | 5.80% | 6.42% |
| 7Y | 5.92% | 6.64% |
| 8Y | 6.02% | 6.76% |
| 9Y | 6.11% | 6.80% |
| 10Y | 6.17% | 6.76% |
| 15Y | 6.31% | 6.59% |
| 20Y | 6.46% | 6.91% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 5.37% and the 10-year 6.17%, a 10Y−2Y spread of +80 bp — positively sloped — as of 2026-07-27. The chart and table below track how they have moved.
Fitted 2Y and 10Y yields and their spread, sampled one build date per month. See all inverted curves today →
| Tenor | Latest2026-07-27 | 1m ago2026-06-26 | 2m ago2026-05-28 | 3m ago2026-04-28 | 4m ago2026-03-30 | 5m ago2026-02-27 | 6m ago2026-01-28 |
|---|---|---|---|---|---|---|---|
| 2Y | 5.37% | 5.20% | 5.45% | 5.55% | 5.58% | 4.99% | 4.85% |
| 10Y | 6.17% | 6.04% | 6.28% | 6.13% | 6.29% | 5.88% | 5.86% |
| 10Y − 2Y | +80 bp | +84 bp | +82 bp | +58 bp | +71 bp | +89 bp | +101 bp |
Yields by rating group
The same curve split by credit quality: 117 rated bonds across 2 rating bands, all maturities pooled. Median yield by band: AAA to AA- 5.47%, A+ to BBB- 5.66%.
Bonds in this curve
A selection of 30 of the 117 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Norfina LTD | 5.96% | 2026-08-24 | 3.25% | AU3CB0239267 |
| Bank of America Corporation | 4.94% | 2026-10-30 | 5.50% | AU3CB0303741 |
| National Australia Bank Limited | 5.85% | 2026-11-16 | 5.20% | AU3CB0304426 |
| National Australia Bank Limited | 5.11% | 2027-02-25 | 2.90% | AU3CB0286763 |
| DBS Group Holdings LTD | 5.05% | 2027-02-26 | 4.70% | AU3CB0306835 |
| Landwirtschaftliche Rentenbank | 5.28% | 2027-03-23 | 2.60% | AU3CB0239796 |
| Dekabank Deutsche Girozentrale | 5.71% | 2027-04-05 | 3.75% | DE000DK0KJR6 |
| Landesbank Baden-Wuerttemberg | 5.63% | 2027-06-29 | 4.90% | DE000LB1DV90 |
| Credit Agricole | 4.88% | 2027-07-06 | 4.40% | XS1641479750 |
| Lloyds Banking Group PLC | 5.44% | 2027-11-22 | 4.25% | AU3CB0248862 |
| Macquarie Group LTD | 4.88% | 2027-12-15 | 4.15% | AU3CB0249357 |
| UBS Group AG | 5.23% | 2028-05-12 | 5.00% | AU3CB0299378 |
| Landesbank Baden-Wuerttemberg | 5.85% | 2028-05-17 | 5.00% | DE000LB1P720 |
| BNP Paribas | 5.55% | 2029-02-15 | 5.29% | AU3CB0306629 |
| Landwirtschaftliche Rentenbank | 4.93% | 2029-02-14 | 4.30% | AU3CB0306660 |
| Emirates NBD Bank Pjsc | 6.04% | 2030-02-26 | 3.05% | AU0000078644 |
| Credit Agricole | 5.54% | 2030-08-26 | 4.57% | AU3CB0325132 |
| UBS Group AG | 5.44% | 2031-04-14 | 5.52% | AU3CB0333680 |
| Australia & NEW Zealand Banking Group LD | 5.35% | 2031-05-12 | 5.40% | AU3CB0334506 |
| Barclays Bank PLC | 5.61% | 2032-05-20 | 3.38% | AU3CB0280295 |
| Hsbc Holdings PLC | 5.84% | 2032-05-26 | 6.00% | AU3CB0335248 |
| Emirates NBD Bank Pjsc | 6.15% | 2033-02-21 | 6.10% | AU3CB0297018 |
| Hsbc Holdings PLC | 6.11% | 2034-03-21 | 6.21% | AU3CB0307890 |
| Banco Santander SA | 6.23% | 2034-07-17 | 6.44% | AU3CB0311298 |
| Banco Santander SA | 5.96% | 2035-03-06 | 5.80% | AU3CB0319184 |
| Hsbc Holdings PLC | 5.88% | 2035-03-12 | 5.72% | AU3CB0319473 |
| Commonwealth Bank of Australia | 5.79% | 2036-03-05 | 5.63% | AU3CB0332039 |
| Barclays Bank PLC | 6.33% | 2036-06-18 | 6.05% | AU3CB0322626 |
| National Australia Bank Limited | 6.30% | 2039-06-06 | 6.34% | AU3CB0310175 |
| Australia & NEW Zealand Banking Group LD | 6.42% | 2045-08-14 | 6.17% | AU3CB0324754 |