Canada Non-Callable Corporate Bond Yields (CAD)
Fitted spot curve as of 2026-09-11
https://bondscovery.com/yield-curve/cad-corporate-canada-non-callable
Canada Non-Callable Corporate Bond Yields (CAD) as of 2026-09-11: 10Y at 4.63%, fitted curve 1M–40Y (3.06%–5.66%), 99 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 3.06% | — |
| 3M | 3.06% | 3.06% |
| 6M | 3.08% | 3.14% |
| 9M | 3.11% | 3.28% |
| 12M | 3.16% | 3.28% |
| 18M | 3.37% | 3.83% |
| 2Y | 3.51% | 3.97% |
| 3Y | 3.58% | 3.78% |
| 4Y | 3.65% | 3.92% |
| 5Y | 3.75% | 4.21% |
| 6Y | 3.87% | 4.64% |
| 7Y | 4.03% | 5.20% |
| 8Y | 4.22% | 5.87% |
| 9Y | 4.42% | 6.58% |
| 10Y | 4.63% | 7.23% |
| 15Y | 5.37% | 7.89% |
| 20Y | 5.66% | 7.55% |
| 25Y | 5.62% | 5.18% |
| 30Y | 5.18% | -0.05% |
| 40Y | 4.96% | 3.46% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 3.51% and the 10-year 4.63%, a 10Y−2Y spread of +112 bp — positively sloped — as of 2026-09-11. 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 | Latest2026-09-11 | 1m ago2026-08-12 | 2m ago2026-07-13 | 3m ago2026-06-12 | 4m ago2026-05-14 | 5m ago2026-04-14 | 6m ago2026-03-16 |
|---|---|---|---|---|---|---|---|
| 2Y | 3.51% | 3.58% | 3.12% | 3.32% | 3.20% | 3.33% | 2.97% |
| 10Y | 4.63% | 4.29% | 4.30% | — | 4.12% | 4.19% | 4.12% |
| 10Y − 2Y | +112 bp | +71 bp | +118 bp | — | +92 bp | +86 bp | +115 bp |
Yields by rating group
The same curve split by credit quality: 137 rated bonds across 2 rating bands, all maturities pooled. Median yield by band: AAA to AA- 4.07%, A+ to BBB- 4.30%.
Bonds in this curve
A selection of 30 of the 147 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Royal Bank of Canada | 4.07% | 2026-11-02 | 5.24% | CA780086VV38 |
| National Bank of Canada | 2.74% | 2026-12-07 | 4.97% | CA63306AHU30 |
| Canadian Imperial Bank of Commerce | 2.55% | 2027-01-07 | 2.25% | CA13607HC349 |
| Rogers Communications INC | 3.50% | 2027-03-01 | 3.80% | CA775109CM19 |
| Bank of Montreal | 3.08% | 2027-04-01 | 3.65% | CA06368DW260 |
| Cppib Capital INC | 2.71% | 2027-06-01 | 2.85% | CA12593CAU59 |
| Royal Bank of Canada | 3.53% | 2027-07-26 | 4.61% | CA780086VK72 |
| National Bank of Canada | 3.14% | 2027-09-02 | 5.15% | CA136765BU77 |
| Ontario Teachers Finance Trust | 2.40% | 2027-10-19 | 1.10% | CA68329AAF53 |
| Bank of Montreal | 3.48% | 2028-03-01 | 3.19% | CA06368BTX69 |
| Royal Bank of Canada | 3.92% | 2028-05-01 | 4.63% | CA780086XL38 |
| National Bank of Canada | 3.77% | 2028-06-14 | 5.22% | CA63306AHP45 |
| Royal Bank of Canada | 3.64% | 2028-12-10 | 3.63% | CA779926FY56 |
| Ontario Teachers Finance Trust | 3.66% | 2029-11-01 | 4.15% | CAC69798AW34 |
| Bell Canada | 4.24% | 2030-02-09 | 4.55% | CA07813ZCL63 |
| Royal Bank of Canada | 4.11% | 2030-06-24 | 5.23% | CA780086ZH08 |
| Saputo INC | 4.35% | 2030-11-20 | 5.49% | CA80310ZAM10 |
| Bell Canada | 4.11% | 2031-03-17 | 3.00% | CA07813ZCG78 |
| Enbridge INC | 4.07% | 2031-05-12 | 2.82% | CA29251ZCS44 |
| Transcanada Pipelines Limited | 4.58% | 2032-05-12 | 5.33% | CA89353ZCK27 |
| Cppib Capital INC | 3.78% | 2032-06-02 | 3.95% | CA12593ZAA80 |
| PSP Capital INC | 3.90% | 2033-06-01 | 4.15% | CAC75089AB59 |
| Cppib Capital INC | 4.01% | 2034-06-02 | 4.30% | CA12593CAY71 |
| British Columbia Investment Management | 4.17% | 2035-06-02 | 4.00% | CA110610AD48 |
| Bank of Nova Scotia | 4.79% | 2036-04-30 | 4.55% | CA06419FRX82 |
| Rogers Communications INC | 5.67% | 2041-03-22 | 6.56% | CA775109AT89 |
| Hydro-Quebec | 4.81% | 2045-02-15 | 5.00% | CA448814HZ92 |
| Bell Canada | 5.98% | 2053-02-09 | 5.15% | CA07813ZCM47 |
| Bell Canada | 5.93% | 2056-06-03 | 5.30% | CA07816ZA274 |
| Hydro-Quebec | 5.01% | 2063-02-15 | 4.00% | CA448814JD62 |