Canadian AAA–AA Senior Unsecured Banks Corporate Bond Yields (CAD)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/cad-corporate-senior-unsecured-aaa-aa-banks
Canadian AAA–AA Senior Unsecured Banks Corporate Bond Yields (CAD) as of 2026-07-27: 10Y at 5.35%, fitted curve 3M–30Y (3.12%–5.43%), 45 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 3M | 3.12% | — |
| 6M | 3.24% | 3.37% |
| 9M | 3.36% | 3.61% |
| 12M | 3.49% | 3.85% |
| 18M | 3.72% | 4.19% |
| 2Y | 3.94% | 4.60% |
| 3Y | 4.33% | 5.11% |
| 4Y | 4.64% | 5.58% |
| 5Y | 4.87% | 5.82% |
| 7Y | 5.17% | 5.91% |
| 8Y | 5.25% | 5.85% |
| 10Y | 5.35% | 5.74% |
| 15Y | 5.42% | 5.56% |
| 20Y | 5.43% | 5.45% |
| 30Y | 5.43% | 5.43% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 3.94% and the 10-year 5.35%, a 10Y−2Y spread of +141 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 ago2026-05-22 | 3m ago2026-04-28 | 4m ago2026-04-13 | 5m ago2026-02-26 | 6m ago2026-01-29 |
|---|---|---|---|---|---|---|---|
| 2Y | 3.94% | 3.26% | 3.45% | 3.30% | 3.34% | 3.04% | 2.97% |
| 10Y | 5.35% | — | — | — | 4.62% | 4.48% | — |
| 10Y − 2Y | +141 bp | — | — | — | +128 bp | +144 bp | — |
Bonds in this curve
A selection of 30 of the 76 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| 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 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 |
| Toronto-Dominion Bank | 3.39% | 2028-01-18 | 4.48% | CA89117GTQ06 |
| Bank of Montreal | 3.21% | 2028-03-01 | 3.19% | CA06368BTX69 |
| Royal Bank of Canada | 3.60% | 2028-05-01 | 4.63% | CA780086XL38 |
| National Bank of Canada | 4.96% | 2028-07-08 | 4.50% | US63305TMD53 |
| Toronto-Dominion Bank | 3.57% | 2029-01-08 | 4.68% | CA89117GRJ80 |
| Bank of Nova Scotia | 3.57% | 2029-02-01 | 4.68% | CA064164QM14 |
| National Bank of Canada | 4.82% | 2029-07-08 | 4.80% | US63305TLK06 |
| Bank of Montreal | 3.67% | 2029-07-17 | 4.42% | CA06368L5G77 |
| Royal Bank of Canada | 3.75% | 2030-06-24 | 5.23% | CA780086ZH08 |
| Bank of Nova Scotia | 3.77% | 2030-09-26 | 3.84% | CA06418MM430 |
| Canadian Imperial Bank of Commerce | 3.79% | 2030-12-10 | 3.80% | CA13607LF997 |
| National Bank of Canada | 4.69% | 2031-07-15 | 4.55% | US63305TLV60 |
| National Bank of Canada | 5.17% | 2031-07-14 | 5.00% | US63305TPE00 |
| National Bank of Canada | 5.28% | 2031-07-24 | 5.20% | US63305TPF74 |
| Bank of Montreal | 5.21% | 2033-07-07 | 5.00% | US06376LF848 |
| Royal Bank of Canada | 4.61% | 2034-04-03 | 5.10% | CA7800863G73 |
| Royal Bank of Canada | 4.86% | 2034-09-10 | 4.60% | CA779926BN38 |
| Royal Bank of Canada | 4.67% | 2035-01-15 | 4.20% | CA779926HH06 |
| National Bank of Canada | 5.59% | 2036-07-07 | 5.35% | US63305TMW35 |
| National Bank of Canada | 5.71% | 2036-07-16 | 5.55% | US63305TMX18 |
| Bank of Nova Scotia | 5.06% | 2039-02-15 | 5.02% | CA0641644E35 |
| 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 |
| National Bank of Canada | 6.00% | 2056-07-15 | 6.00% | US63305TLW44 |