Canada AAA–AA Non-Callable Corporate Bond Yields (CAD)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/cad-corporate-aaa-aa-canada-non-callable
Canada AAA–AA Non-Callable Corporate Bond Yields (CAD) as of 2026-07-27: 10Y at 4.27%, fitted curve 1M–40Y (2.88%–4.86%), 56 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 2.88% | — |
| 3M | 2.90% | 2.90% |
| 6M | 2.92% | 2.94% |
| 9M | 2.94% | 2.98% |
| 12M | 2.96% | 3.03% |
| 18M | 3.01% | 3.11% |
| 2Y | 3.07% | 3.23% |
| 3Y | 3.19% | 3.43% |
| 4Y | 3.33% | 3.75% |
| 5Y | 3.48% | 4.10% |
| 6Y | 3.65% | 4.46% |
| 7Y | 3.81% | 4.81% |
| 8Y | 3.97% | 5.12% |
| 9Y | 4.13% | 5.36% |
| 10Y | 4.27% | 5.52% |
| 15Y | 4.70% | 5.58% |
| 20Y | 4.84% | 5.26% |
| 25Y | 4.86% | 4.93% |
| 30Y | 4.83% | 4.70% |
| 40Y | 4.83% | 4.84% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 3.07% and the 10-year 4.27%, a 10Y−2Y spread of +120 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 | 3.07% | 2.93% | 3.09% | 2.90% | 3.14% | 2.80% | 2.77% |
| 10Y | 4.27% | 4.28% | 4.27% | — | — | 4.01% | — |
| 10Y − 2Y | +120 bp | +134 bp | +118 bp | — | — | +121 bp | — |
Bonds in this curve
A selection of 30 of the 110 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Hydro-Quebec | 2.34% | 2026-08-15 | 1.00% | CA44885ZJR25 |
| Royal Bank of Canada | 3.37% | 2026-11-02 | 5.24% | CA780086VV38 |
| Canadian Imperial Bank of Commerce | 2.87% | 2027-01-07 | 2.25% | CA13607HC349 |
| Bank of Montreal | 3.09% | 2027-04-01 | 3.65% | CA06368DW260 |
| Cppib Capital INC | 2.69% | 2027-06-01 | 2.85% | CA12593CAU59 |
| Royal Bank of Canada | 3.31% | 2027-07-26 | 4.61% | CA780086VK72 |
| Ontario Teachers Finance Trust | 2.79% | 2027-10-19 | 1.10% | CA68329AAF53 |
| Bank of Montreal | 3.21% | 2028-03-01 | 3.19% | CA06368BTX69 |
| Cppib Capital INC | 2.98% | 2028-03-08 | 3.25% | CA12593CAV33 |
| Royal Bank of Canada | 3.60% | 2028-05-01 | 4.63% | CA780086XL38 |
| Clarica Life Insurance CO. | 3.65% | 2028-05-15 | 6.30% | CA627912AB48 |
| PSP Capital INC | 3.24% | 2029-06-15 | 3.75% | CA69363TAS11 |
| Ontario Teachers Finance Trust | 3.30% | 2029-11-01 | 4.15% | CAC69798AW34 |
| British Columbia Investment Management | 3.39% | 2030-06-02 | 3.40% | CA110610AC64 |
| Royal Bank of Canada | 3.75% | 2030-06-24 | 5.23% | CA780086ZH08 |
| Cppib Capital INC | 3.40% | 2031-06-02 | 3.20% | CA12593CBC43 |
| Cppib Capital INC | 3.49% | 2031-12-01 | 2.25% | CA12593CAR21 |
| PSP Capital INC | 3.58% | 2032-03-01 | 2.60% | CAC75089AA76 |
| Cppib Capital INC | 3.60% | 2032-06-02 | 3.95% | CA12593ZAA80 |
| British Columbia Investment Management | 3.75% | 2033-06-02 | 4.90% | CA110610AA09 |
| PSP Capital INC | 3.72% | 2033-06-01 | 4.15% | CAC75089AB59 |
| Cppib Capital INC | 3.85% | 2034-06-02 | 4.30% | CA12593CAY71 |
| Royal Bank of Canada | 4.86% | 2034-09-10 | 4.60% | CA779926BN38 |
| British Columbia Investment Management | 4.00% | 2035-06-02 | 4.00% | CA110610AD48 |
| Ontario Teachers Finance Trust | 4.05% | 2036-06-02 | 4.00% | CAC69798BC60 |
| Royal Bank of Canada | 4.80% | 2039-08-30 | 4.30% | CA779926AV62 |
| Hydro-Quebec | 4.79% | 2045-02-15 | 5.00% | CA448814HZ92 |
| Hydro-Quebec | 4.87% | 2050-02-15 | 5.00% | CA448814JA24 |
| PSP Capital INC | 4.81% | 2055-12-01 | 4.25% | CAC75089AD16 |
| Hydro-Quebec | 4.85% | 2065-02-15 | 4.00% | CA448814BQ57 |