Japanese Government-Guaranteed Corporate Bond Yields (JPY)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/jpy-corporate-guaranteed
Japanese Government-Guaranteed Corporate Bond Yields (JPY) as of 2026-07-27: 10Y at 3.01%, fitted curve 1M–40Y (1.10%–4.24%), 68 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 1.10% | — |
| 3M | 1.14% | 1.16% |
| 6M | 1.21% | 1.29% |
| 9M | 1.30% | 1.47% |
| 12M | 1.38% | 1.63% |
| 18M | 1.52% | 1.80% |
| 2Y | 1.63% | 1.97% |
| 3Y | 1.83% | 2.24% |
| 4Y | 2.02% | 2.58% |
| 5Y | 2.20% | 2.91% |
| 6Y | 2.36% | 3.18% |
| 7Y | 2.52% | 3.48% |
| 8Y | 2.69% | 3.93% |
| 9Y | 2.86% | 4.22% |
| 10Y | 3.01% | 4.34% |
| 15Y | 3.56% | 4.67% |
| 30Y | 4.17% | 4.78% |
| 40Y | 4.24% | 4.47% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 1.63% and the 10-year 3.01%, a 10Y−2Y spread of +138 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 |
|---|---|---|---|---|---|---|
| 2Y | 1.63% | 1.51% | 1.47% | 1.46% | 1.47% | 1.32% |
| 10Y | 3.01% | 2.81% | 2.87% | 2.66% | 2.56% | 2.33% |
| 10Y − 2Y | +138 bp | +130 bp | +140 bp | +120 bp | +109 bp | +101 bp |
Yields by rating group
The same curve split by credit quality: 57 rated bonds across 2 rating bands, all maturities pooled. Median yield by band: A+ to BBB- 2.10%, Speculative 2.00%.
Bonds in this curve
A selection of 30 of the 68 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Development Bank of Japan | 1.14% | 2026-09-14 | 0.01% | JP372155AG97 |
| Japan Investment Corporation | 1.11% | 2026-09-30 | 0.41% | JP332833AQ99 |
| Development Bank of Japan | 1.16% | 2026-12-04 | 0.00% | JP372155AKC1 |
| Development Bank of Japan | 1.16% | 2026-12-14 | 0.09% | JP372155AGC9 |
| Development Bank of Japan | 1.19% | 2027-01-29 | 0.00% | JP372155DL14 |
| Central Japan International Airport CO., LTD. | 1.24% | 2027-03-16 | 0.14% | JP352480AH37 |
| Development Bank of Japan | 1.24% | 2027-03-15 | 0.14% | JP372155AH39 |
| Japan Investment Corporation | 1.36% | 2027-06-30 | 0.78% | JP332833AR64 |
| Development Bank of Japan | 1.37% | 2027-07-22 | 0.00% | JP372155FL79 |
| Development Bank of Japan | 1.48% | 2027-12-03 | 0.00% | JP372155ALC9 |
| Development Bank of Japan | 1.49% | 2027-12-15 | 0.15% | JP372155AHC7 |
| Japan Investment Corporation | 1.63% | 2028-05-29 | 1.44% | JP332833BS54 |
| Development Bank of Japan | 1.67% | 2028-09-19 | 0.21% | JP372155AJ94 |
| Central Japan International Airport CO., LTD. | 1.75% | 2029-03-19 | 0.10% | JP352480BK31 |
| Development Bank of Japan | 1.74% | 2029-03-19 | 0.10% | JP372155BK33 |
| Japan Investment Corporation | 1.94% | 2030-02-27 | 1.68% | JP332833AS22 |
| Central Japan International Airport CO., LTD. | 1.95% | 2030-03-18 | 0.00% | JP352480AL31 |
| Development Bank of Japan | 2.12% | 2031-02-07 | 0.45% | JP372155AQ20 |
| Hiroshima Expressway Public Corporation | 2.24% | 2031-02-19 | 0.15% | JP379760AM26 |
| Development Bank of Japan | 2.29% | 2032-02-27 | 1.22% | JP372155AR29 |
| Central Japan International Airport CO., LTD. | 2.30% | 2032-03-15 | 0.22% | JP352480AN39 |
| Japan Overseas Infrastructure Investment Corporation FOR Transport & Urban Development | 2.44% | 2033-02-15 | 0.69% | JP320545AP29 |
| Development Bank of Japan | 2.44% | 2033-03-02 | 1.85% | JP372155AS36 |
| Central Japan International Airport CO., LTD. | 2.64% | 2034-03-21 | 0.79% | JP352480AQ36 |
| Development Bank of Japan | 2.72% | 2034-09-19 | 1.04% | JP372155AQ95 |
| Central Japan International Airport CO., LTD. | 2.79% | 2035-03-16 | 1.50% | JP352480AR35 |
| Hiroshima Expressway Public Corporation | 3.01% | 2036-02-19 | 0.36% | JP379760BM25 |
| Hiroshima Expressway Public Corporation | 3.59% | 2041-02-19 | 0.49% | JP379760CM24 |
| Development Bank of Japan | 4.20% | 2059-12-16 | 0.48% | JP372155BKC9 |
| Development Bank of Japan | 4.26% | 2062-06-20 | 1.25% | JP372155AN64 |