Canada Non-Callable Banks Corporate Bond Yields (USD)
Fitted spot curve as of 2026-09-10
https://bondscovery.com/yield-curve/usd-corporate-banks-canada-non-callable
Canada Non-Callable Banks Corporate Bond Yields (USD) as of 2026-09-10: 10Y at 5.68%, fitted curve 1M–15Y (4.37%–5.84%), 45 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 4.37% | — |
| 3M | 4.40% | 4.42% |
| 6M | 4.46% | 4.61% |
| 9M | 4.51% | 4.72% |
| 12M | 4.56% | 4.72% |
| 18M | 4.66% | 4.93% |
| 2Y | 4.76% | 5.14% |
| 3Y | 4.95% | 5.42% |
| 4Y | 5.11% | 5.75% |
| 5Y | 5.25% | 6.00% |
| 6Y | 5.38% | 6.19% |
| 7Y | 5.47% | 6.31% |
| 9Y | 5.62% | 6.40% |
| 10Y | 5.68% | 6.44% |
| 15Y | 5.84% | 6.46% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 4.76% and the 10-year 5.68%, a 10Y−2Y spread of +92 bp — positively sloped — as of 2026-09-10. 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 | Latest2026-09-10 | 1m ago2026-08-11 | 2m ago2026-07-13 | 3m ago2026-06-12 | 4m ago2026-05-13 | 5m ago2026-04-13 | 6m ago2026-03-13 |
|---|---|---|---|---|---|---|---|
| 2Y | 4.76% | 4.57% | 4.60% | 4.44% | 4.34% | 4.28% | 4.14% |
| 10Y | 5.68% | — | — | — | 5.26% | — | — |
| 10Y − 2Y | +92 bp | — | — | — | +92 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- 4.79%, A+ to BBB- 4.88%.
Bonds in this curve
A selection of 30 of the 62 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Bank of Nova Scotia | 3.86% | 2026-10-13 | 1.19% | US06418BAA61 |
| Toronto-Dominion Bank | 4.63% | 2026-12-11 | 5.26% | US89115A2V36 |
| Royal Bank of Canada | 5.41% | 2026-12-14 | 4.85% | USC7976PAK24 |
| Toronto-Dominion Bank | 4.54% | 2026-12-17 | 4.57% | US89115A3A89 |
| Toronto-Dominion Bank | 4.49% | 2027-04-05 | 4.98% | US89115A2W19 |
| National Bank of Canada | 3.81% | 2027-04-06 | 2.90% | USC60191BF63 |
| National Bank of Canada | 4.25% | 2027-04-06 | 2.90% | US633469AB74 |
| Royal Bank of Canada | 4.56% | 2027-05-04 | 3.62% | US78016EZD20 |
| Federation des Caisses Desjardins du Quebec | 4.41% | 2027-08-23 | 4.55% | US31429KAH68 |
| Toronto-Dominion Bank | 4.59% | 2027-09-15 | 4.69% | US89115A2H42 |
| Royal Bank of Canada | 4.64% | 2027-11-01 | 6.00% | US78016FZU10 |
| Toronto-Dominion Bank | 4.85% | 2028-01-10 | 5.16% | US89115A2M37 |
| Toronto-Dominion Bank | 4.83% | 2028-06-02 | 4.57% | US89115KAD28 |
| Federation des Caisses Desjardins du Quebec | 4.77% | 2028-05-26 | 4.50% | US31429KAR41 |
| Toronto-Dominion Bank | 4.93% | 2028-07-17 | 5.52% | US89115A2U52 |
| Toronto-Dominion Bank | 4.88% | 2028-10-13 | 4.11% | US89115KAE01 |
| Royal Bank of Canada | 4.83% | 2029-02-01 | 4.95% | US78016HZV58 |
| Toronto-Dominion Bank | 5.05% | 2029-04-05 | 4.99% | US89115A2Y74 |
| Toronto-Dominion Bank | 5.10% | 2029-04-23 | 4.36% | US89115KAP57 |
| Toronto-Dominion Bank | 5.02% | 2029-07-27 | 4.85% | US89115KAS96 |
| Toronto-Dominion Bank | 5.12% | 2030-06-03 | 4.81% | US89115KAB61 |
| Federation des Caisses Desjardins du Quebec | 5.15% | 2030-08-26 | 4.57% | US31429KAP84 |
| Toronto-Dominion Bank | 5.16% | 2031-09-10 | 2.00% | US89114TZJ41 |
| Toronto-Dominion Bank | 5.37% | 2032-01-12 | 2.45% | US89114TZQ83 |
| Royal Bank of Canada | 5.26% | 2032-03-30 | 4.00% | US78014RED89 |
| Toronto-Dominion Bank | 5.55% | 2033-04-22 | 4.87% | US89115KAR14 |
| Toronto-Dominion Bank | 5.65% | 2035-10-15 | 4.93% | US89115KAJ97 |
| National Bank of Canada | 5.68% | 2036-08-27 | 5.55% | US63305TTL07 |
| Bank of Montreal | 5.65% | 2036-09-11 | 5.65% | XS3501987849 |
| Bank of Montreal | 5.84% | 2041-09-10 | 5.84% | XS3498880841 |