Australia Banks Corporate Bond Yields (USD)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/usd-corporate-banks-australia
Australia Banks Corporate Bond Yields (USD) as of 2026-07-27: 10Y at 5.61%, fitted curve 1M–20Y (4.29%–6.01%), 121 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 4.29% | — |
| 3M | 4.31% | 4.32% |
| 6M | 4.35% | 4.38% |
| 9M | 4.38% | 4.45% |
| 12M | 4.41% | 4.52% |
| 18M | 4.48% | 4.62% |
| 2Y | 4.55% | 4.77% |
| 3Y | 4.70% | 5.00% |
| 4Y | 4.85% | 5.31% |
| 5Y | 5.00% | 5.60% |
| 6Y | 5.15% | 5.87% |
| 7Y | 5.28% | 6.09% |
| 8Y | 5.40% | 6.27% |
| 9Y | 5.51% | 6.39% |
| 10Y | 5.61% | 6.47% |
| 15Y | 5.90% | 6.49% |
| 20Y | 6.01% | 6.33% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 4.55% and the 10-year 5.61%, a 10Y−2Y spread of +105 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 | 4.55% | 4.40% | 4.32% | 4.12% | 4.26% | 3.81% | 3.85% |
| 10Y | 5.61% | 5.48% | 5.52% | 5.37% | 5.53% | 5.13% | 5.23% |
| 10Y − 2Y | +105 bp | +108 bp | +120 bp | +124 bp | +127 bp | +132 bp | +139 bp |
Yields by rating group
The same curve split by credit quality: 138 rated bonds across 2 rating bands, all maturities pooled. Median yield by band: AAA to AA- 4.54%, A+ to BBB- 5.48%.
Bonds in this curve
A selection of 30 of the 138 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 |
| Westpac Banking Corporation | 3.93% | 2026-09-30 | 1.55% | USQ97417FA49 |
| 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 |
| National Australia Bank Limited | 4.82% | 2027-06-09 | 3.90% | US63254ABE73 |
| Macquarie Bank LTD | 4.60% | 2027-07-02 | 5.27% | US55608RBT68 |
| Australia & NEW Zealand Banking Group LD | 4.83% | 2027-07-16 | 4.90% | US05253JB348 |
| Westpac Banking Corporation | 4.51% | 2027-11-18 | 5.46% | US961214FK48 |
| Westpac Banking Corporation | 4.46% | 2028-01-25 | 3.40% | US961214DW04 |
| Macquarie Group LTD | 4.51% | 2028-06-21 | 4.10% | US55608KBC80 |
| Commonwealth Bank of Australia | 4.67% | 2028-09-14 | 5.07% | US20271BAL99 |
| Macquarie Group LTD | 4.89% | 2029-03-27 | 4.65% | US55608KAN54 |
| Westpac Banking Corporation | 4.71% | 2029-04-16 | 5.05% | US961214FT56 |
| National Australia Bank Limited | 5.34% | 2030-08-21 | 2.33% | USG6S94TAC79 |
| National Australia Bank Limited | 4.68% | 2031-01-13 | 4.15% | US632525CR03 |
| Westpac Banking Corporation | 4.81% | 2031-06-03 | 2.15% | US961214ET65 |
| Westpac Banking Corporation | 4.88% | 2031-06-12 | 4.45% | US9612EVAB54 |
| Commonwealth Bank of Australia | 5.42% | 2032-03-14 | 3.78% | USQ2704MAH18 |
| Australia & NEW Zealand Banking Group LD | 5.55% | 2032-12-08 | 6.74% | US052528AP13 |
| Macquarie Group LTD | 5.27% | 2033-06-21 | 4.44% | US55608KBE47 |
| Westpac Banking Corporation | 5.46% | 2033-08-10 | 5.41% | US961214FG36 |
| Macquarie Group LTD | 5.51% | 2034-06-15 | 5.89% | US55608KBN46 |
| Westpac Banking Corporation | 4.59% | 2034-07-24 | 4.11% | US961214EF61 |
| National Australia Bank Limited | 5.81% | 2036-01-14 | 5.90% | USQ6535DCJ11 |
| Macquarie Bank LTD | 4.43% | 2036-03-03 | 3.05% | USQ568A9SR96 |
| Westpac Banking Corporation | 5.77% | 2039-07-24 | 4.42% | US961214EG45 |
| Commonwealth Bank of Australia | 6.10% | 2046-03-14 | 5.93% | USQ2704MAN85 |