Australia Non-Callable Banks Corporate Bond Yields (USD)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/usd-corporate-banks-australia-non-callable
Australia Non-Callable Banks Corporate Bond Yields (USD) as of 2026-07-27: 10Y at 5.62%, fitted curve 1M–20Y (4.40%–5.76%), 51 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 4.40% | — |
| 3M | 4.41% | 4.41% |
| 6M | 4.42% | 4.43% |
| 9M | 4.43% | 4.46% |
| 12M | 4.45% | 4.50% |
| 18M | 4.49% | 4.57% |
| 2Y | 4.54% | 4.67% |
| 3Y | 4.65% | 4.89% |
| 4Y | 4.80% | 5.25% |
| 5Y | 4.97% | 5.66% |
| 6Y | 5.15% | 6.04% |
| 7Y | 5.31% | 6.30% |
| 8Y | 5.45% | 6.40% |
| 9Y | 5.55% | 6.37% |
| 10Y | 5.62% | 6.27% |
| 20Y | 5.76% | 5.89% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 4.54% and the 10-year 5.62%, a 10Y−2Y spread of +109 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% | 4.40% | 4.31% | 4.12% | 4.23% | 3.72% | 3.81% |
| 10Y | 5.62% | 5.37% | 5.34% | 5.42% | 5.45% | 5.24% | — |
| 10Y − 2Y | +109 bp | +97 bp | +103 bp | +130 bp | +123 bp | +152 bp | — |
Yields by rating group
The same curve split by credit quality: 62 rated bonds across 2 rating bands, all maturities pooled. Median yield by band: AAA to AA- 4.54%, A+ to BBB- 5.75%.
Bonds in this curve
A selection of 30 of the 62 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 |
| Macquarie Bank LTD | 4.28% | 2026-12-07 | 5.39% | US55608PBQ63 |
| National Australia Bank Limited | 4.37% | 2027-01-10 | 3.50% | US6325C1CL16 |
| National Australia Bank Limited | 5.17% | 2027-01-12 | 1.89% | US6325C1D483 |
| Australia & NEW Zealand Banking Group LD | 4.35% | 2027-01-18 | 4.75% | US05253JAZ49 |
| 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 |
| National Australia Bank Limited | 4.47% | 2028-01-12 | 4.94% | US63253QAB05 |
| 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 |
| National Australia Bank Limited | 5.81% | 2036-01-14 | 5.90% | USQ6535DCJ11 |
| 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 |