Canada Non-Callable Banks Corporate Bond Yields (CAD)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/cad-corporate-banks-canada-non-callable
Canada Non-Callable Banks Corporate Bond Yields (CAD) as of 2026-07-27: 10Y at 5.06%, fitted curve 3M–15Y (3.02%–5.06%), 32 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 3M | 3.02% | — |
| 6M | 3.03% | 3.04% |
| 9M | 3.14% | 3.37% |
| 12M | 3.32% | 3.86% |
| 18M | 3.74% | 4.57% |
| 2Y | 4.12% | 5.28% |
| 3Y | 4.65% | 5.71% |
| 4Y | 4.90% | 5.66% |
| 5Y | 5.00% | 5.41% |
| 6Y | 5.04% | 5.24% |
| 7Y | 5.06% | 5.14% |
| 8Y | 5.06% | 5.10% |
| 9Y | 5.06% | 5.08% |
| 10Y | 5.06% | 5.07% |
| 15Y | 5.06% | 5.06% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 4.12% and the 10-year 5.06%, a 10Y−2Y spread of +95 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 |
|---|---|---|
| 2Y | 4.12% | 3.60% |
| 10Y | 5.06% | 4.82% |
| 10Y − 2Y | +95 bp | +122 bp |
Yields by rating group
The same curve split by credit quality: 64 rated bonds across 2 rating bands, all maturities pooled. Median yield by band: AAA to AA- 4.48%, A+ to BBB- 4.85%.
Bonds in this curve
A selection of 30 of the 64 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Royal Bank of Canada | 3.37% | 2026-11-02 | 5.24% | CA780086VV38 |
| National Bank of Canada | 2.78% | 2026-12-07 | 4.97% | CA63306AHU30 |
| Canadian Imperial Bank of Commerce | 2.87% | 2027-01-07 | 2.25% | CA13607HC349 |
| Bank of Montreal | 3.09% | 2027-04-01 | 3.65% | CA06368DW260 |
| Royal Bank of Canada | 3.31% | 2027-07-26 | 4.61% | CA780086VK72 |
| National Bank of Canada | 3.03% | 2027-09-02 | 5.15% | CA136765BU77 |
| 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 |
| National Bank of Canada | 3.47% | 2028-06-14 | 5.22% | CA63306AHP45 |
| Toronto-Dominion Bank | 4.79% | 2028-10-13 | 4.11% | US89115KAE01 |
| National Bank of Canada | 3.54% | 2029-02-01 | 5.02% | CA63306AHT66 |
| Toronto-Dominion Bank | 4.85% | 2029-04-23 | 4.36% | US89115KAP57 |
| Toronto-Dominion Bank | 4.88% | 2029-07-27 | 4.85% | US89115KAS96 |
| 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 | 3.75% | 2030-06-24 | 5.23% | CA780086ZH08 |
| 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 |
| Bank of Montreal | 5.21% | 2033-07-07 | 5.00% | US06376LF848 |
| National Bank of Canada | 4.72% | 2034-02-15 | 5.28% | CA63309ZNM63 |
| Royal Bank of Canada | 4.86% | 2034-09-10 | 4.60% | CA779926BN38 |
| Royal Bank of Canada | 4.67% | 2035-01-15 | 4.20% | CA779926HH06 |
| Toronto-Dominion Bank | 5.47% | 2035-10-15 | 4.93% | US89115KAJ97 |
| Bank of Nova Scotia | 4.72% | 2036-05-29 | 4.60% | CA06419FTV09 |
| Bank of Montreal | 5.38% | 2036-07-14 | 5.25% | US06376LF434 |
| Bank of Nova Scotia | 5.06% | 2039-02-15 | 5.02% | CA0641644E35 |
| Royal Bank of Canada | 4.80% | 2039-08-30 | 4.30% | CA779926AV62 |