Canada Senior Unsecured Callable Corporate Bond Yields (CAD)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/cad-corporate-senior-unsecured-canada-callable
Canada Senior Unsecured Callable Corporate Bond Yields (CAD) as of 2026-07-27: 10Y at 5.41%, fitted curve 3M–30Y (3.98%–5.94%), 72 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 3M | 3.98% | — |
| 6M | 4.03% | 4.07% |
| 9M | 4.07% | 4.17% |
| 18M | 4.21% | 4.35% |
| 2Y | 4.30% | 4.58% |
| 3Y | 4.48% | 4.84% |
| 4Y | 4.65% | 5.16% |
| 5Y | 4.81% | 5.44% |
| 6Y | 4.95% | 5.69% |
| 7Y | 5.09% | 5.89% |
| 8Y | 5.21% | 6.05% |
| 9Y | 5.31% | 6.17% |
| 10Y | 5.41% | 6.25% |
| 15Y | 5.72% | 6.34% |
| 20Y | 5.86% | 6.27% |
| 25Y | 5.91% | 6.14% |
| 30Y | 5.94% | 6.05% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 4.30% and the 10-year 5.41%, a 10Y−2Y spread of +110 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 ago2026-04-02 | 5m ago2026-02-25 | 6m ago2026-01-28 |
|---|---|---|---|---|---|---|---|
| 2Y | 4.30% | 3.44% | 3.45% | 3.27% | 3.34% | 2.98% | 2.91% |
| 10Y | 5.41% | — | — | — | — | — | — |
| 10Y − 2Y | +110 bp | — | — | — | — | — | — |
Yields by rating group
The same curve split by credit quality: 106 rated bonds across 3 rating bands, all maturities pooled. Median yield by band: AAA to AA- 4.82%, A+ to BBB- 4.92%, Speculative 6.21%.
Bonds in this curve
A selection of 30 of the 111 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| CDP Financial INC | 2.39% | 2026-10-19 | 1.50% | CAC23264AM38 |
| National Bank of Canada | 2.64% | 2027-02-08 | 4.27% | CA136765BZ64 |
| Allied Properties Real Estate Investment Trust | 3.52% | 2027-04-07 | 4.31% | CA019456AN20 |
| Toronto-Dominion Bank | 3.27% | 2027-06-01 | 4.21% | CA89117F7G86 |
| Toronto-Dominion Bank | 4.82% | 2027-12-17 | 4.15% | US89115JCJ07 |
| Toronto-Dominion Bank | 4.73% | 2028-01-13 | 3.91% | US89115KAK60 |
| Toronto-Dominion Bank | 4.43% | 2028-01-15 | 4.25% | US89115JCT88 |
| National Bank of Canada | 4.96% | 2028-07-08 | 4.50% | US63305TMD53 |
| Toronto-Dominion Bank | 5.08% | 2028-08-18 | 4.35% | US89115JBN28 |
| Toronto-Dominion Bank | 3.57% | 2029-01-08 | 4.68% | CA89117GRJ80 |
| Bank of Nova Scotia | 3.57% | 2029-02-01 | 4.68% | CA064164QM14 |
| Rogers Communications INC | 3.79% | 2029-05-01 | 3.25% | CA775109BJ98 |
| Hydro ONE INC | 4.02% | 2030-06-03 | 7.35% | CA448810AC58 |
| Bank of Nova Scotia | 3.77% | 2030-09-26 | 3.84% | CA06418MM430 |
| Toronto-Dominion Bank | 5.15% | 2031-05-19 | 4.65% | US89115JBZ57 |
| National Bank of Canada | 4.69% | 2031-07-15 | 4.55% | US63305TLV60 |
| Bombardier INC | 6.21% | 2032-06-01 | 7.00% | US097751CC35 |
| Cppib Capital INC | 3.63% | 2033-06-02 | 4.75% | CA12593CAW16 |
| Telus Corp | 4.49% | 2033-09-08 | 5.75% | CA87971MCC51 |
| Royal Bank of Canada | 4.61% | 2034-04-03 | 5.10% | CA7800863G73 |
| Bank of Montreal | 5.10% | 2034-07-14 | 5.00% | US06376LF681 |
| Toronto-Dominion Bank | 5.62% | 2035-06-30 | 5.35% | US89115JAY91 |
| National Bank of Canada | 5.59% | 2036-07-07 | 5.35% | US63305TMW35 |
| National Bank of Canada | 5.71% | 2036-07-16 | 5.55% | US63305TMX18 |
| Rogers Communications INC | 5.29% | 2039-11-04 | 6.68% | CA775109AP67 |
| Intact Financial Corporation | 5.00% | 2039-11-23 | 6.40% | CA45823ZAB81 |
| National Bank of Canada | 6.00% | 2046-07-15 | 6.00% | US63305TMN36 |
| Canadian Utilities Limited | 5.26% | 2052-06-03 | 4.85% | CA136717BD69 |
| National Bank of Canada | 6.25% | 2056-07-08 | 6.25% | US63305TLL88 |
| National Bank of Canada | 6.00% | 2056-07-15 | 6.00% | US63305TLW44 |