National Bank of Canada Bond Yields (USD)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/usd-corporate-banks-canada-national-bank-of-canada
National Bank of Canada Bond Yields (USD) as of 2026-07-27: 10Y at 6.02%, fitted curve 1M–15Y (3.80%–6.11%), 13 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 3.80% | — |
| 9M | 4.10% | 4.13% |
| 12M | 4.21% | 4.53% |
| 2Y | 4.62% | 5.04% |
| 3Y | 4.98% | 5.71% |
| 6Y | 5.69% | 6.40% |
| 10Y | 6.02% | 6.52% |
| 15Y | 6.11% | 6.28% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 4.62% and the 10-year 6.02%, a 10Y−2Y spread of +140 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 ago2026-06-25 | 2m ago2026-05-28 | 3m ago2026-04-28 | 4m ago2026-03-30 | 5m ago2026-02-25 | 6m ago2026-02-11 |
|---|---|---|---|---|---|---|---|
| 2Y | 4.62% | 4.56% | 4.48% | 4.67% | 4.29% | — | — |
| 10Y | 6.02% | — | — | 5.42% | — | 5.50% | 5.23% |
| 10Y − 2Y | +140 bp | — | — | +75 bp | — | — | — |
Yields by rating group
The same curve split by credit quality: 83 rated bonds across 2 rating bands, all maturities pooled. Median yield by band: AAA to AA- 5.25%, A+ to BBB- 4.58%.
Bonds in this curve
A selection of 30 of the 83 bonds behind this curve, spread across maturities. Greyed rows carry an older quote.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| National Bank of Canada | 3.77% | 2026-09-14 | 0.00% | CA633901WF64 |
| National Bank of Canada | 3.79% | 2026-09-23 | 0.00% | CA633901WQ20 |
| National Bank of Canada | 4.13% | 2027-01-07 | 0.00% | CA633901A783 |
| National Bank of Canada | 4.63% | 2027-03-05 | 4.70% | US63307A3G86 |
| National Bank of Canada | 4.27% | 2027-04-06 | 2.90% | US633469AB74 |
| National Bank of Canada | 4.26% | 2027-04-06 | 2.90% | USC60191BF63 |
| National Bank of Canada | 4.38% | 2027-07-08 | 0.00% | CA633901G806 |
| National Bank of Canada | 4.67% | 2027-10-18 | 4.40% | US63305LT780 |
| National Bank of Canada | 4.79% | 2027-10-29 | 4.80% | US63305LV752 |
| National Bank of Canada | 4.27% | 2028-03-17 | 4.00% | US63305M3F60 |
| National Bank of Canada | 4.74% | 2028-12-18 | 5.60% | US63307A2X29 |
| National Bank of Canada | 4.54% | 2029-01-20 | 4.17% | US63307A3K98 |
| National Bank of Canada | 5.08% | 2029-09-14 | 5.00% | US63305LP986 |
| National Bank of Canada | 4.89% | 2029-10-10 | 4.50% | US63307A3B99 |
| National Bank of Canada | 5.11% | 2029-10-17 | 4.60% | US63305LT863 |
| National Bank of Canada | 5.09% | 2029-10-30 | 5.05% | US63305LW743 |
| National Bank of Canada | 4.72% | 2030-01-30 | 4.30% | US63305MM734 |
| National Bank of Canada | 4.79% | 2030-04-17 | 4.65% | US63305M6Y23 |
| National Bank of Canada | 5.50% | 2031-07-31 | 5.50% | US63305LJ799 |
| National Bank of Canada | 5.12% | 2031-08-29 | 5.12% | US63305LN668 |
| National Bank of Canada | 5.19% | 2032-06-04 | 4.93% | US63307A3Q68 |
| National Bank of Canada | 5.41% | 2032-10-18 | 4.65% | US63305LT947 |
| National Bank of Canada | 5.33% | 2033-03-18 | 5.15% | US63305MEA53 |
| National Bank of Canada | 6.00% | 2033-09-27 | 6.00% | US63305LTL70 |
| National Bank of Canada | 5.61% | 2034-03-28 | 5.45% | US63305LYL16 |
| National Bank of Canada | 5.75% | 2034-06-28 | 5.75% | US63305LF573 |
| National Bank of Canada | 5.28% | 2035-02-10 | 4.85% | US63305MQ461 |
| National Bank of Canada | 5.67% | 2037-02-05 | 5.65% | US63305MAN11 |
| National Bank of Canada | 6.16% | 2039-05-15 | 6.15% | US63305LB283 |
| National Bank of Canada | 5.91% | 2044-10-31 | 5.25% | US63305LW412 |