Canada Banks Corporate Bond Yields (CAD)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/cad-corporate-banks-canada
Canada Banks Corporate Bond Yields (CAD) as of 2026-07-27: 10Y at 5.12%, fitted curve 1M–30Y (2.24%–5.12%), 115 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 2.24% | — |
| 3M | 2.42% | 2.51% |
| 6M | 2.70% | 2.98% |
| 9M | 2.98% | 3.55% |
| 12M | 3.26% | 4.10% |
| 18M | 3.78% | 4.81% |
| 2Y | 4.20% | 5.47% |
| 3Y | 4.73% | 5.80% |
| 4Y | 4.97% | 5.68% |
| 5Y | 5.06% | 5.44% |
| 6Y | 5.10% | 5.28% |
| 7Y | 5.11% | 5.19% |
| 8Y | 5.12% | 5.15% |
| 9Y | 5.12% | 5.13% |
| 10Y | 5.12% | 5.13% |
| 15Y | 5.12% | 5.12% |
| 20Y | 5.12% | 5.12% |
| 30Y | 5.12% | 5.12% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 4.20% and the 10-year 5.12%, a 10Y−2Y spread of +92 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 | 4.20% | 3.62% | 3.75% | 3.41% | 3.56% | 2.86% | 2.99% |
| 10Y | 5.12% | 4.84% | 4.64% | — | — | 4.39% | 4.58% |
| 10Y − 2Y | +92 bp | +122 bp | +89 bp | — | — | +153 bp | +159 bp |
Yields by rating group
The same curve split by credit quality: 475 rated bonds across 3 rating bands, all maturities pooled. Median yield by band: AAA to AA- 2.66%, A+ to BBB- 2.80%, Speculative 2.85%.
Bonds in this curve
A selection of 30 of the 477 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Federation des Caisses Desjardins du Quebec | 2.18% | 2026-08-14 | 0.00% | CA31428BVF89 |
| National Bank of Canada | 2.28% | 2026-08-28 | 0.00% | CA633062VV37 |
| Canadian Imperial Bank of Commerce | 2.35% | 2026-10-06 | 0.00% | CA136060X626 |
| 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 Nova Scotia | 2.55% | 2027-01-25 | 0.00% | CA064162AS91 |
| Bank of Montreal | 3.09% | 2027-04-01 | 3.65% | CA06368DW260 |
| Toronto-Dominion Bank | 3.27% | 2027-06-01 | 4.21% | CA89117F7G86 |
| Royal Bank of Canada | 3.31% | 2027-07-26 | 4.61% | CA780086VK72 |
| National Bank of Canada | 3.03% | 2027-09-02 | 5.15% | CA136765BU77 |
| Toronto-Dominion Bank | 4.73% | 2028-01-13 | 3.91% | US89115KAK60 |
| Bank of Montreal | 3.21% | 2028-03-01 | 3.19% | CA06368BTX69 |
| Royal Bank of Canada | 3.60% | 2028-05-01 | 4.63% | CA780086XL38 |
| Toronto-Dominion Bank | 4.74% | 2028-06-02 | 4.57% | US89115KAD28 |
| Bank of Nova Scotia | 3.57% | 2029-02-01 | 4.68% | CA064164QM14 |
| National Bank of Canada | 3.54% | 2029-02-01 | 5.02% | CA63306AHT66 |
| Royal Bank of Canada | 4.83% | 2030-04-17 | 4.40% | US78017DAT54 |
| Toronto-Dominion Bank | 4.91% | 2030-06-03 | 4.81% | US89115KAB61 |
| Royal Bank of Canada | 5.01% | 2031-02-04 | 5.15% | US78017DAC20 |
| Royal Bank of Canada | 5.00% | 2031-11-03 | 4.30% | US78017DAQ16 |
| Royal Bank of Canada | 5.04% | 2032-05-03 | 4.61% | US78017DAV01 |
| Toronto-Dominion Bank | 5.26% | 2033-04-22 | 4.87% | US89115KAR14 |
| Toronto-Dominion Bank | 5.09% | 2033-07-17 | 5.10% | US89115JCV35 |
| National Bank of Canada | 4.72% | 2034-02-15 | 5.28% | CA63309ZNM63 |
| Royal Bank of Canada | 4.61% | 2034-04-03 | 5.10% | CA7800863G73 |
| Toronto-Dominion Bank | 5.47% | 2035-10-15 | 4.93% | US89115KAJ97 |
| National Bank of Canada | 5.59% | 2036-07-07 | 5.35% | US63305TMW35 |
| Royal Bank of Canada | 4.80% | 2039-08-30 | 4.30% | CA779926AV62 |
| National Bank of Canada | 6.00% | 2046-07-15 | 6.00% | US63305TMN36 |
| National Bank of Canada | 6.25% | 2056-07-08 | 6.25% | US63305TLL88 |