Australia Non-Callable Corporate Bond Yields (USD)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/usd-corporate-australia-non-callable
Australia Non-Callable Corporate Bond Yields (USD) as of 2026-07-27: 10Y at 5.75%, fitted curve 1M–30Y (4.47%–5.80%), 58 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 4.47% | — |
| 3M | 4.47% | 4.47% |
| 6M | 4.48% | 4.49% |
| 9M | 4.49% | 4.51% |
| 12M | 4.50% | 4.53% |
| 18M | 4.53% | 4.58% |
| 2Y | 4.56% | 4.66% |
| 3Y | 4.65% | 4.83% |
| 4Y | 4.78% | 5.18% |
| 5Y | 4.96% | 5.66% |
| 6Y | 5.16% | 6.18% |
| 7Y | 5.36% | 6.58% |
| 8Y | 5.53% | 6.76% |
| 9Y | 5.67% | 6.72% |
| 10Y | 5.75% | 6.56% |
| 20Y | 5.80% | 5.85% |
| 30Y | 5.78% | 5.72% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 4.56% and the 10-year 5.75%, a 10Y−2Y spread of +120 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 | 4.56% | 4.45% | 4.32% | 4.14% | 4.24% | 3.71% | 3.85% |
| 10Y | 5.75% | 5.51% | 5.50% | 5.45% | 5.54% | 5.30% | 5.16% |
| 10Y − 2Y | +120 bp | +107 bp | +118 bp | +131 bp | +130 bp | +158 bp | +131 bp |
Yields by rating group
The same curve split by credit quality: 69 rated bonds across 2 rating bands, all maturities pooled. Median yield by band: AAA to AA- 4.54%, A+ to BBB- 5.70%.
Bonds in this curve
A selection of 30 of the 69 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Commonwealth Bank of Australia | 3.96% | 2026-09-06 | 2.62% | US2027A0HY82 |
| Commonwealth Bank of Australia | 4.83% | 2026-09-06 | 2.62% | US2027A1HY65 |
| Commonwealth Bank of Australia | 4.09% | 2026-11-27 | 4.58% | US20271RAU41 |
| Macquarie Bank LTD | 4.92% | 2026-12-07 | 5.39% | US55608RBQ20 |
| National Australia Bank Limited | 4.37% | 2027-01-10 | 3.50% | US6325C1CL16 |
| National Australia Bank Limited | 5.17% | 2027-01-12 | 1.89% | US6325C1D483 |
| Commonwealth Bank of Australia | 4.75% | 2027-03-14 | 2.55% | US2027A1KK25 |
| Mirvac Group Finance Limited | 4.77% | 2027-03-18 | 3.62% | XS1688567251 |
| Macquarie Bank LTD | 4.60% | 2027-07-02 | 5.27% | US55608RBT68 |
| Sgsp (Australia) Assets PTY LTD | 5.00% | 2027-07-07 | 3.50% | XS1642641812 |
| Telstra Group Limited | 4.96% | 2027-11-15 | 3.25% | XS1716945743 |
| Commonwealth Bank of Australia | 4.41% | 2028-03-16 | 3.90% | US2027A1JZ13 |
| National Australia Bank Limited | 4.54% | 2028-06-13 | 4.90% | US63253QAE44 |
| Commonwealth Bank of Australia | 4.67% | 2028-09-14 | 5.07% | US20271BAL99 |
| Macquarie Bank LTD | 4.66% | 2029-03-29 | 4.53% | US55608RCB42 |
| Australia & NEW Zealand Banking Group LD | 4.65% | 2029-12-16 | 4.62% | US05253JB595 |
| National Australia Bank Limited | 5.34% | 2030-08-21 | 2.33% | USG6S94TAC79 |
| National Australia Bank Limited | 4.68% | 2031-01-13 | 4.15% | US632525CR03 |
| Commonwealth Bank of Australia | 4.74% | 2031-09-15 | 1.88% | US2027A1KF30 |
| Commonwealth Bank of Australia | 4.62% | 2031-09-15 | 1.88% | US2027A0KF56 |
| Macquarie Bank LTD | 5.71% | 2033-01-18 | 6.80% | USQ568A9SS79 |
| Macquarie Bank LTD | 5.54% | 2033-01-18 | 6.80% | US556079AF83 |
| National Australia Bank Limited | 5.09% | 2034-06-11 | 5.18% | USQ6535DBV57 |
| National Australia Bank Limited | 5.02% | 2034-06-11 | 5.18% | US632525BS94 |
| QBE Insurance Group Limited | 5.70% | 2035-10-03 | 5.83% | XS3035948762 |
| Santos Finance LTD | 5.89% | 2035-11-13 | 5.75% | USQ82780AH22 |
| Macquarie Bank LTD | 5.92% | 2036-08-13 | 5.64% | USQ568A9ST52 |
| Commonwealth Bank of Australia | 5.74% | 2047-07-12 | 3.90% | US2027A1JN82 |
| Commonwealth Bank of Australia | 5.69% | 2047-07-12 | 3.90% | US2027A0JN00 |
| BHP Group Limited | 5.91% | 2055-09-05 | 5.75% | US055451BM92 |