Canada AAA–AA Banks Corporate Bond Yields (USD)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/usd-corporate-aaa-aa-banks-canada
Canada AAA–AA Banks Corporate Bond Yields (USD) as of 2026-07-27: 10Y at 5.91%, fitted curve 1M–20Y (3.80%–6.12%), 31 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 3.80% | — |
| 3M | 3.98% | 4.07% |
| 6M | 4.17% | 4.35% |
| 9M | 4.29% | 4.53% |
| 12M | 4.38% | 4.65% |
| 18M | 4.53% | 4.82% |
| 2Y | 4.66% | 5.07% |
| 3Y | 4.92% | 5.43% |
| 6Y | 5.51% | 6.10% |
| 8Y | 5.75% | 6.50% |
| 10Y | 5.91% | 6.54% |
| 15Y | 6.08% | 6.42% |
| 20Y | 6.12% | 6.25% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 4.66% and the 10-year 5.91%, a 10Y−2Y spread of +125 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 | 4.66% | 4.38% | 4.40% | 4.23% | 4.26% | 3.98% | 4.22% |
| 10Y | 5.91% | — | — | 5.28% | 5.23% | 5.37% | — |
| 10Y − 2Y | +125 bp | — | — | +104 bp | +96 bp | +138 bp | — |
Bonds in this curve
A selection of 30 of the 199 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Royal Bank of Canada | 3.63% | 2026-08-20 | 0.00% | CA779928VM90 |
| Royal Bank of Canada | 6.63% | 2026-09-14 | 1.05% | USC7976PAC08 |
| Bank of Montreal | 5.95% | 2026-09-29 | 6.00% | US06375M4E22 |
| Federation des Caisses Desjardins du Quebec | 4.01% | 2026-10-14 | 1.20% | US31430WJB19 |
| Federation des Caisses Desjardins du Quebec | 3.84% | 2026-10-19 | 0.00% | CA31428CXL13 |
| Federation des Caisses Desjardins du Quebec | 3.83% | 2026-10-22 | 0.00% | CA31428CXP27 |
| Bank of Montreal | 3.93% | 2026-10-16 | 3.93% | US06367DWD38 |
| Royal Bank of Canada | 5.13% | 2026-12-14 | 4.85% | USC7976PAK24 |
| Canadian Imperial Bank of Commerce | 4.33% | 2027-01-19 | 1.85% | USC24285N843 |
| Bank of Nova Scotia | 4.77% | 2027-03-09 | 2.17% | USC0574BAB48 |
| Royal Bank of Canada | 4.82% | 2027-03-24 | 2.60% | USC7976PAD80 |
| National Bank of Canada | 4.26% | 2027-04-06 | 2.90% | USC60191BF63 |
| Toronto-Dominion Bank | 4.22% | 2027-04-20 | 3.30% | US891160TB95 |
| Toronto-Dominion Bank | 4.25% | 2027-04-20 | 3.30% | USC8888MTC21 |
| Toronto-Dominion Bank | 4.50% | 2027-07-16 | 4.81% | USC8888MBQ09 |
| Toronto-Dominion Bank | 4.33% | 2027-07-16 | 4.81% | US891160TE35 |
| National Bank of Canada | 4.67% | 2027-10-18 | 4.40% | US63305LT780 |
| Bank of Nova Scotia | 4.37% | 2028-03-20 | 4.30% | US06418BAK44 |
| Bank of Nova Scotia | 4.41% | 2028-03-20 | 4.30% | USC0574BAG35 |
| Bank of Montreal | 4.65% | 2028-06-28 | 4.69% | USC0623PAU24 |
| Toronto-Dominion Bank | 4.51% | 2028-09-13 | 5.14% | USC8920GAA97 |
| National Bank of Canada | 5.08% | 2029-09-14 | 5.00% | US63305LP986 |
| National Bank of Canada | 5.11% | 2029-10-17 | 4.60% | US63305LT863 |
| National Bank of Canada | 5.09% | 2029-10-30 | 5.05% | US63305LW743 |
| Canadian Imperial Bank of Commerce | 4.44% | 2030-01-14 | 4.88% | USC2428PBN09 |
| National Bank of Canada | 5.41% | 2032-10-18 | 4.65% | US63305LT947 |
| Royal Bank of Canada | 5.71% | 2034-01-29 | 5.40% | CA780086Y248 |
| National Bank of Canada | 5.67% | 2037-02-05 | 5.65% | US63305MAN11 |
| National Bank of Canada | 6.16% | 2039-05-15 | 6.15% | US63305LB283 |
| Canadian Imperial Bank of Commerce | 6.14% | 2046-03-20 | 5.40% | US13609FHC14 |