Australia Callable Corporate Bond Yields (USD)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/usd-corporate-australia-callable
Australia Callable Corporate Bond Yields (USD) as of 2026-07-27: 10Y at 5.73%, fitted curve 1M–25Y (3.89%–6.07%), 152 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 3.89% | — |
| 3M | 4.02% | 4.09% |
| 6M | 4.23% | 4.44% |
| 9M | 4.40% | 4.75% |
| 12M | 4.51% | 4.85% |
| 18M | 4.64% | 4.91% |
| 2Y | 4.74% | 5.02% |
| 3Y | 4.91% | 5.26% |
| 4Y | 5.07% | 5.56% |
| 5Y | 5.22% | 5.81% |
| 6Y | 5.35% | 6.02% |
| 7Y | 5.47% | 6.17% |
| 8Y | 5.57% | 6.29% |
| 9Y | 5.66% | 6.36% |
| 10Y | 5.73% | 6.41% |
| 15Y | 5.96% | 6.41% |
| 20Y | 6.04% | 6.29% |
| 25Y | 6.07% | 6.19% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 4.74% and the 10-year 5.73%, a 10Y−2Y spread of +99 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 | 4.74% | 4.55% | 4.61% | 4.38% | 4.55% | 4.12% | 4.15% |
| 10Y | 5.73% | 5.48% | 5.58% | 5.35% | 5.47% | 5.05% | 5.22% |
| 10Y − 2Y | +99 bp | +93 bp | +97 bp | +97 bp | +92 bp | +93 bp | +107 bp |
Yields by rating group
The same curve split by credit quality: 180 rated bonds across 3 rating bands, all maturities pooled. Median yield by band: AAA to AA- 4.69%, A+ to BBB- 5.38%, Speculative 6.45%.
Bonds in this curve
A selection of 30 of the 182 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Westpac Banking Corporation | 4.18% | 2026-08-19 | 2.70% | US961214DC40 |
| Westpac Banking Corporation | 3.93% | 2026-09-30 | 1.55% | USQ97417FA49 |
| Westpac Banking Corporation | 3.92% | 2026-09-30 | 1.55% | US961214EZ26 |
| NBN CO Limited | 3.79% | 2027-01-08 | 1.62% | US62878U2D30 |
| Westpac Banking Corporation | 4.17% | 2027-03-08 | 3.35% | US961214DK65 |
| Transurban Finance Company PTY LTD | 4.31% | 2027-03-22 | 3.38% | USQ9194UAW29 |
| Transurban Finance Company PTY LTD | 4.57% | 2027-03-22 | 3.38% | US89400PAG81 |
| Fortescue Treasury PTY LTD | 5.36% | 2027-09-15 | 4.50% | US30251GBA40 |
| Fortescue Treasury PTY LTD | 5.38% | 2027-09-15 | — | USQ3919KAM38 |
| Westpac Banking Corporation | 4.51% | 2027-11-18 | 5.46% | US961214FK48 |
| Westpac Banking Corporation | 4.46% | 2028-01-25 | 3.40% | US961214DW04 |
| Woodside Finance LTD | 5.03% | 2028-05-19 | 4.90% | US980236AX18 |
| Macquarie Group LTD | 4.51% | 2028-06-21 | 4.10% | US55608KBC80 |
| Woodside Finance LTD | 4.96% | 2029-03-04 | 4.50% | USQ98229AN94 |
| Macquarie Group LTD | 4.89% | 2029-03-27 | 4.65% | US55608KAN54 |
| BHP Group Limited | 4.88% | 2030-02-21 | 5.00% | US055451BJ63 |
| Fortescue Treasury PTY LTD | 5.85% | 2030-04-15 | 5.88% | USQ3919KAP68 |
| Transurban Finance Company PTY LTD | 5.09% | 2031-03-16 | 2.45% | USQ9194UBC55 |
| Santos Finance LTD | 5.43% | 2031-04-29 | 3.65% | USQ82780AF65 |
| BHP Group Limited | 5.02% | 2032-02-21 | 5.12% | US055451BK37 |
| Commonwealth Bank of Australia | 5.42% | 2032-03-14 | 3.78% | USQ2704MAH18 |
| BHP Group Limited | 5.15% | 2033-02-28 | 4.90% | US055451BA54 |
| Northern Star Resources LTD | 5.75% | 2033-04-11 | 6.12% | USQ6951UAA99 |
| Cimic Finance (USA) PTY LTD | 6.27% | 2034-03-25 | 7.00% | USQ24249AA42 |
| Macquarie Group LTD | 5.51% | 2034-06-15 | 5.89% | US55608KBN46 |
| BHP Group Limited | 5.29% | 2035-02-21 | 5.30% | US055451BL10 |
| BHP Group Limited | 5.27% | 2036-02-15 | 5.00% | US055451BN75 |
| Westpac Banking Corporation | 5.77% | 2039-07-24 | 4.42% | US961214EG45 |
| APA Infrastructure LTD | 6.06% | 2044-09-16 | 5.75% | USQ0431LAB01 |
| Newcrest Finance PTY Limited | 6.32% | 2050-05-13 | 4.20% | USQ66511AF56 |