Canadian Non-Callable Corporate Bond Yields (CAD)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/cad-corporate-non-callable
Canadian Non-Callable Corporate Bond Yields (CAD) as of 2026-07-27: 10Y at 4.66%, fitted curve 1M–40Y (2.68%–5.24%), 186 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 2.68% | — |
| 3M | 2.74% | 2.77% |
| 6M | 2.84% | 2.95% |
| 9M | 2.96% | 3.19% |
| 12M | 3.08% | 3.43% |
| 18M | 3.29% | 3.70% |
| 2Y | 3.44% | 3.89% |
| 3Y | 3.65% | 4.09% |
| 4Y | 3.84% | 4.39% |
| 5Y | 4.01% | 4.69% |
| 6Y | 4.17% | 4.96% |
| 7Y | 4.31% | 5.18% |
| 8Y | 4.44% | 5.36% |
| 9Y | 4.56% | 5.50% |
| 10Y | 4.66% | 5.61% |
| 15Y | 5.02% | 5.72% |
| 20Y | 5.18% | 5.66% |
| 25Y | 5.24% | 5.47% |
| 30Y | 5.20% | 5.00% |
| 40Y | 4.77% | 3.51% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 3.44% and the 10-year 4.66%, a 10Y−2Y spread of +123 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 | 3.44% | 3.42% | 3.40% | 3.21% | 3.33% | 2.94% | 2.95% |
| 10Y | 4.66% | 4.41% | 4.42% | 4.39% | 4.37% | 4.13% | 4.09% |
| 10Y − 2Y | +123 bp | +98 bp | +103 bp | +118 bp | +103 bp | +120 bp | +115 bp |
Yields by rating group
The same curve split by credit quality: 238 rated bonds across 3 rating bands, all maturities pooled. Median yield by band: AAA to AA- 3.89%, A+ to BBB- 4.11%, Speculative 5.40%.
Bonds in this curve
A selection of 30 of the 256 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 |
| National Bank of Canada | 2.78% | 2026-12-07 | 4.97% | CA63306AHU30 |
| Daimler Truck Finance North America LLC | 2.47% | 2026-12-15 | 2.46% | CA233852AE28 |
| Deere & Company | 3.38% | 2027-01-20 | 4.36% | CA47788ZAQ42 |
| Bank of Montreal | 3.09% | 2027-04-01 | 3.65% | CA06368DW260 |
| Cppib Capital INC | 2.69% | 2027-06-01 | 2.85% | CA12593CAU59 |
| Deere & Company | 3.44% | 2027-06-14 | 4.95% | CA47788ZAN11 |
| Royal Bank of Canada | 3.31% | 2027-07-26 | 4.61% | CA780086VK72 |
| Cenovus Energy INC | 3.53% | 2028-02-07 | 3.50% | CA15135UAT66 |
| Bank of Montreal | 3.21% | 2028-03-01 | 3.19% | CA06368BTX69 |
| Royal Bank of Canada | 3.60% | 2028-05-01 | 4.63% | CA780086XL38 |
| Clarica Life Insurance CO. | 3.65% | 2028-05-15 | 6.30% | CA627912AB48 |
| National Bank of Canada | 3.54% | 2029-02-01 | 5.02% | CA63306AHT66 |
| Deere & Company | 3.53% | 2029-04-04 | 4.63% | CA47788ZAR25 |
| 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 |
| Bell Canada | 3.82% | 2031-03-17 | 3.00% | CA07813ZCG78 |
| Royal Bank of Canada | 5.04% | 2032-05-03 | 4.61% | US78017DAV01 |
| Transcanada Pipelines Limited | 4.23% | 2032-05-12 | 5.33% | CA89353ZCK27 |
| Toronto-Dominion Bank | 5.26% | 2033-04-22 | 4.87% | US89115KAR14 |
| National Bank of Canada | 4.72% | 2034-02-15 | 5.28% | CA63309ZNM63 |
| Toronto-Dominion Bank | 5.47% | 2035-10-15 | 4.93% | US89115KAJ97 |
| AT&T INC | 4.74% | 2036-03-12 | 4.50% | CA00206RNL29 |
| Rogers Communications INC | 5.31% | 2041-03-22 | 6.56% | CA775109AT89 |
| Suncor Energy INC | 6.23% | 2047-11-15 | 4.00% | US867224AB33 |
| Bell Canada | 5.61% | 2053-02-09 | 5.15% | CA07813ZCM47 |
| AT&T INC | 5.62% | 2056-03-12 | 5.25% | CA00206RNM02 |
| Hydro-Quebec | 4.85% | 2065-02-15 | 4.00% | CA448814BQ57 |