Australia Callable Banks Corporate Bond Yields (USD)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/usd-corporate-banks-australia-callable
Australia Callable Banks Corporate Bond Yields (USD) as of 2026-07-27: 10Y at 5.73%, fitted curve 1M–20Y (4.17%–6.06%), 70 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 4.17% | — |
| 3M | 4.20% | 4.22% |
| 6M | 4.25% | 4.30% |
| 18M | 4.45% | 4.54% |
| 2Y | 4.54% | 4.83% |
| 3Y | 4.73% | 5.10% |
| 4Y | 4.90% | 5.43% |
| 5Y | 5.06% | 5.72% |
| 6Y | 5.22% | 5.98% |
| 7Y | 5.36% | 6.23% |
| 8Y | 5.50% | 6.47% |
| 9Y | 5.63% | 6.65% |
| 10Y | 5.73% | 6.71% |
| 15Y | 5.91% | 6.26% |
| 20Y | 6.06% | 6.49% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 4.54% and the 10-year 5.73%, a 10Y−2Y spread of +119 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 | 4.54% | 4.34% | 4.31% | 4.24% | 4.32% | 3.87% | 3.91% |
| 10Y | 5.73% | 5.45% | 5.53% | 5.34% | 5.45% | 5.11% | 5.21% |
| 10Y − 2Y | +119 bp | +111 bp | +122 bp | +110 bp | +113 bp | +124 bp | +130 bp |
Yields by rating group
The same curve split by credit quality: 76 rated bonds across 2 rating bands, all maturities pooled. Median yield by band: AAA to AA- 4.58%, A+ to BBB- 5.42%.
Bonds in this curve
A selection of 30 of the 76 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 |
| Westpac Banking Corporation | 4.17% | 2027-03-08 | 3.35% | US961214DK65 |
| 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 |
| Westpac Banking Corporation | 4.69% | 2028-11-17 | 5.54% | US961214FN86 |
| Westpac Banking Corporation | 4.61% | 2028-11-20 | 1.95% | US961214EW94 |
| Macquarie Group LTD | 4.89% | 2029-03-27 | 4.65% | US55608KAN54 |
| Westpac Banking Corporation | 4.71% | 2029-04-16 | 5.05% | US961214FT56 |
| Macquarie Group LTD | 5.05% | 2030-01-15 | 5.03% | US55608KAP03 |
| Macquarie Bank LTD | 5.14% | 2030-06-03 | 3.62% | USQ568A9SQ14 |
| National Australia Bank Limited | 4.53% | 2030-06-13 | 4.53% | US632525CK59 |
| 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 |
| Australia & NEW Zealand Banking Group LD | 5.64% | 2035-09-30 | 5.20% | US052528AT35 |
| Australia & NEW Zealand Banking Group LD | 5.63% | 2035-09-30 | 5.20% | USQ0954PVQ28 |
| Macquarie Bank LTD | 4.43% | 2036-03-03 | 3.05% | USQ568A9SR96 |
| Westpac Banking Corporation | 4.45% | 2036-11-18 | 3.02% | US961214EX77 |
| Westpac Banking Corporation | 5.77% | 2039-07-24 | 4.42% | US961214EG45 |
| Westpac Banking Corporation | 5.88% | 2040-11-16 | 2.96% | US961214EQ27 |
| Commonwealth Bank of Australia | 6.10% | 2046-03-14 | 5.93% | USQ2704MAN85 |
| Commonwealth Bank of Australia | 6.03% | 2048-01-10 | 4.32% | US202712BJ33 |