United Kingdom Non-Callable Corporate Bond Yields (GBP)
Fitted spot curve as of 2026-09-10
https://bondscovery.com/yield-curve/gbp-corporate-united-kingdom-non-callable
United Kingdom Non-Callable Corporate Bond Yields (GBP) as of 2026-09-10: 10Y at 6.28%, fitted curve 1M–25Y (5.26%–6.91%), 149 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 5.26% | — |
| 3M | 5.27% | 5.28% |
| 6M | 5.29% | 5.45% |
| 9M | 5.31% | 5.45% |
| 12M | 5.33% | 5.45% |
| 18M | 5.38% | 5.54% |
| 2Y | 5.42% | 5.64% |
| 3Y | 5.52% | 5.81% |
| 4Y | 5.62% | 6.06% |
| 5Y | 5.73% | 6.34% |
| 6Y | 5.85% | 6.64% |
| 7Y | 5.96% | 6.93% |
| 8Y | 6.07% | 7.23% |
| 9Y | 6.18% | 7.50% |
| 10Y | 6.28% | 7.73% |
| 15Y | 6.66% | 8.15% |
| 20Y | 6.84% | 8.18% |
| 25Y | 6.91% | 7.83% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 5.42% and the 10-year 6.28%, a 10Y−2Y spread of +86 bp — positively sloped — as of 2026-09-10. 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 | Latest2026-09-10 | 1m ago2026-08-11 | 2m ago2026-07-13 | 3m ago2026-06-12 | 4m ago2026-05-13 | 5m ago2026-04-13 | 6m ago2026-03-13 |
|---|---|---|---|---|---|---|---|
| 2Y | 5.42% | 5.14% | 5.13% | 5.09% | 5.38% | 5.11% | 4.79% |
| 10Y | 6.28% | 6.06% | 5.96% | 5.93% | 6.00% | 5.85% | 5.69% |
| 10Y − 2Y | +86 bp | +92 bp | +83 bp | +84 bp | +62 bp | +74 bp | +91 bp |
Yields by rating group
The same curve split by credit quality: 172 rated bonds across 3 rating bands, all maturities pooled. Median yield by band: AAA to AA- 5.60%, A+ to BBB- 6.02%, Speculative 6.58%.
Bonds in this curve
A selection of 30 of the 188 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Lendinvest Secured Income II PLC | 4.61% | 2026-10-03 | 11.50% | XS2677624657 |
| Close Brothers Finance PLC | 7.97% | 2026-10-19 | 2.75% | XS1506033239 |
| ABP Finance PLC | 6.08% | 2026-12-14 | 6.25% | XS0718981995 |
| Motability Operations Group PLC | 5.35% | 2027-02-08 | 4.38% | XS0742069726 |
| Barclays Bank PLC | 4.62% | 2027-02-12 | 3.25% | XS1472663670 |
| London Power Networks PLC | 4.89% | 2027-06-07 | 6.12% | XS0148889420 |
| National Grid Electricity Transmission PLC | 5.31% | 2027-06-08 | 4.00% | XS0789331948 |
| Anglian Water Services Financing PLC | 5.75% | 2027-10-05 | 4.50% | XS0764876693 |
| Natwest Group PLC | 5.28% | 2027-11-08 | 6.38% | XS2540612129 |
| United Utilities Water Finance PLC | 5.40% | 2027-12-20 | 5.62% | XS0159728236 |
| Glaxosmithkline Capital | 4.91% | 2027-12-20 | 3.38% | XS0866588527 |
| Weir Group PLC (the) | 6.05% | 2028-06-14 | 6.88% | XS2630496672 |
| Close Brothers Finance PLC | 6.13% | 2028-06-14 | 7.75% | XS2635182509 |
| Centrica PLC | 5.52% | 2029-03-13 | 4.38% | XS0753789980 |
| Southern GAS Networks PLC | 5.32% | 2029-03-21 | 4.88% | XS0232335769 |
| Yorkshire Water Finance | 6.04% | 2030-04-28 | 5.25% | XS2591021113 |
| Burberry Group PLC | 6.03% | 2030-06-20 | 5.75% | XS2831553073 |
| Anglian Water Services Financing PLC | 6.04% | 2031-06-20 | 5.88% | XS2638380506 |
| Lloyds Banking Group PLC | 5.62% | 2031-10-16 | 5.25% | XS3073633722 |
| Motability Operations Group PLC | 5.73% | 2032-03-14 | 2.38% | XS1578213933 |
| Southern Electric Power Distribution PLC | 5.74% | 2032-06-07 | 5.50% | XS0139563166 |
| Legal & General Group PLC | 5.72% | 2033-04-05 | 5.88% | XS0145680426 |
| Hsbc Holdings PLC | 5.80% | 2033-05-22 | 5.81% | XS3077192071 |
| Manchester Airport Group Funding PLC | 5.92% | 2034-03-31 | 4.75% | XS1032630771 |
| Pearson Funding PLC | 6.26% | 2034-09-12 | 5.38% | XS2887786478 |
| ABP Finance PLC | 6.23% | 2035-04-14 | 5.62% | XS3200135005 |
| Bunzl Finance PLC | 6.25% | 2036-03-18 | 5.75% | XS3022685500 |
| Anglian Water Services Financing PLC | 6.94% | 2039-06-20 | 6.00% | XS2638381819 |
| Motability Operations Group PLC | 6.90% | 2045-01-22 | 6.25% | XS2978917404 |
| Vodafone Group PLC | 6.97% | 2049-08-08 | 3.38% | XS1468494239 |