Canadian Non-Callable Banks Corporate Bond Yields (CAD)
Fitted spot curve as of 2026-09-22
https://bondscovery.com/yield-curve/cad-corporate-banks-non-callable
Canadian Non-Callable Banks Corporate Bond Yields (CAD) as of 2026-09-22: 10Y at 4.74%, fitted curve 1M–15Y (2.33%–4.74%), 29 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 2.33% | — |
| 3M | 2.49% | 2.57% |
| 6M | 2.73% | 3.01% |
| 9M | 2.96% | 3.67% |
| 12M | 3.18% | 3.67% |
| 18M | 3.56% | 4.39% |
| 2Y | 3.87% | 4.90% |
| 4Y | 4.53% | 5.33% |
| 8Y | 4.73% | 5.04% |
| 9Y | 4.74% | 4.85% |
| 10Y | 4.74% | 4.83% |
| 15Y | 4.74% | 4.81% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 3.87% and the 10-year 4.74%, a 10Y−2Y spread of +87 bp — positively sloped — as of 2026-09-22. 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 | Latest2026-09-22 | 1m ago2026-08-24 | 2m ago2026-07-24 | 3m ago2026-06-24 | 4m ago— | 5m ago2026-04-23 |
|---|---|---|---|---|---|---|
| 2Y | 3.87% | 3.98% | 4.01% | 3.62% | — | 3.54% |
| 10Y | 4.74% | 4.68% | 4.94% | 4.79% | — | — |
| 10Y − 2Y | +87 bp | +69 bp | +93 bp | +117 bp | — | — |
Yields by rating group
The same curve split by credit quality: 56 rated bonds across 2 rating bands, all maturities pooled. Median yield by band: AAA to AA- 4.58%, A+ to BBB- 3.47%.
Bonds in this curve
A selection of 30 of the 56 bonds behind this curve, spread across maturities. Greyed rows carry an older quote.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Royal Bank of Canada | 1.60% | 2026-11-02 | 5.24% | CA780086VV38 |
| National Bank of Canada | 2.91% | 2026-12-07 | 4.97% | CA63306AHU30 |
| Canadian Imperial Bank of Commerce | 2.56% | 2027-01-07 | 2.25% | CA13607HC349 |
| Wells Fargo & Company | 2.53% | 2027-02-18 | 2.49% | CA949746SZ57 |
| Bank of Montreal | 3.08% | 2027-04-01 | 3.65% | CA06368DW260 |
| Royal Bank of Canada | 3.04% | 2027-07-26 | 4.61% | CA780086VK72 |
| National Bank of Canada | 3.21% | 2027-09-02 | 5.15% | CA136765BU77 |
| Bank of Montreal | 3.44% | 2028-03-01 | 3.19% | CA06368BTX69 |
| Royal Bank of Canada | 3.90% | 2028-05-01 | 4.63% | CA780086XL38 |
| Equitable Bank | 4.01% | 2028-05-05 | 3.74% | CA29446NAR13 |
| National Bank of Canada | 3.74% | 2028-06-14 | 5.22% | CA63306AHP45 |
| Royal Bank of Canada | 3.60% | 2028-12-10 | 3.63% | CA779926FY56 |
| National Bank of Canada | 3.87% | 2029-02-01 | 5.02% | CA63306AHT66 |
| Bank of Nova Scotia | 4.10% | 2029-09-25 | 4.05% | CA06418MJ543 |
| Royal Bank of Canada | 3.99% | 2030-06-24 | 5.23% | CA780086ZH08 |
| Royal Bank of Canada | 5.05% | 2034-03-26 | 5.05% | CA7800864A94 |
| Royal Bank of Canada | 4.82% | 2034-09-17 | 4.10% | CA779926BV53 |
| Canadian Imperial Bank of Commerce | 5.24% | 2035-06-25 | 5.35% | CA13607P4D33 |
| Bank of Nova Scotia | 5.16% | 2035-08-27 | 4.45% | CA06419FBT45 |
| Bank of Nova Scotia | 4.59% | 2035-09-17 | 4.55% | CA06419FCQ96 |
| Bank of Nova Scotia | 4.66% | 2035-10-30 | 4.20% | CA06419FFA18 |
| Bank of Nova Scotia | 4.69% | 2035-11-12 | 4.15% | CA06419FFT09 |
| Bank of Nova Scotia | 4.59% | 2035-12-05 | 4.30% | CA06419FGW29 |
| Bank of Nova Scotia | 4.76% | 2035-12-17 | 4.35% | CA06419FHP68 |
| Bank of Nova Scotia | 4.68% | 2035-12-23 | 4.50% | CA06419FJD11 |
| Bank of Nova Scotia | 4.84% | 2036-01-15 | 4.45% | CA06419FKD91 |
| Bank of Nova Scotia | 4.95% | 2036-04-30 | 4.55% | CA06419FRX82 |
| Bank of Nova Scotia | 4.99% | 2039-02-15 | 5.02% | CA0641644E35 |
| Royal Bank of Canada | 4.93% | 2039-08-30 | 4.30% | CA779926AV62 |
| Bank of Nova Scotia | 4.83% | 2039-09-25 | 4.05% | CA06418MH315 |