Germany Non-Callable Banks Corporate Bond Yields (USD)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/usd-corporate-banks-germany-non-callable
Germany Non-Callable Banks Corporate Bond Yields (USD) as of 2026-07-27: 10Y at 5.33%, fitted curve 3M–10Y (4.60%–5.33%), 74 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 3M | 4.60% | — |
| 6M | 4.61% | 4.61% |
| 9M | 4.61% | 4.62% |
| 12M | 4.62% | 4.64% |
| 18M | 4.63% | 4.66% |
| 2Y | 4.65% | 4.70% |
| 3Y | 4.69% | 4.78% |
| 4Y | 4.75% | 4.94% |
| 5Y | 4.84% | 5.16% |
| 6Y | 4.93% | 5.43% |
| 7Y | 5.04% | 5.70% |
| 9Y | 5.25% | 5.98% |
| 10Y | 5.33% | 6.06% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 4.65% and the 10-year 5.33%, a 10Y−2Y spread of +68 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 | 4.65% | 4.57% | 4.56% | 4.36% | 4.47% | 4.01% | 4.16% |
| 10Y | 5.33% | 4.94% | 5.09% | 5.41% | 4.75% | — | 4.76% |
| 10Y − 2Y | +68 bp | +38 bp | +53 bp | +105 bp | +28 bp | — | +60 bp |
Yields by rating group
The same curve split by credit quality: 93 rated bonds across 2 rating bands, all maturities pooled. Median yield by band: AAA to AA- 4.63%, A+ to BBB- 5.30%.
Bonds in this curve
A selection of 30 of the 93 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| DZ Bank AG | 4.35% | 2026-10-02 | 3.35% | XS2892332458 |
| DZ Bank AG | 4.25% | 2026-11-05 | 3.00% | XS2910559231 |
| DZ Bank AG | 4.60% | 2026-11-17 | 3.25% | XS3062797421 |
| DZ Bank AG | 4.63% | 2026-12-18 | 4.40% | XS2731508540 |
| DZ Bank AG | 4.63% | 2026-12-18 | 4.35% | XS2775708824 |
| DZ Bank AG | 4.63% | 2026-12-18 | 3.50% | XS2929508450 |
| DZ Bank AG | 4.92% | 2027-03-18 | 1.84% | XS2454338596 |
| DZ Bank AG | 4.68% | 2027-06-30 | 1.00% | XS2301120379 |
| DZ Bank AG | 4.70% | 2027-09-02 | 3.35% | XS3138730133 |
| Deutsche Bank AG | 4.38% | 2027-09-09 | 5.37% | US25160PAM95 |
| Landesbank Hessen-Thueringen Girozentrale | 4.09% | 2027-11-03 | 3.15% | DE000HEL0N11 |
| Landwirtschaftliche Rentenbank | 4.36% | 2027-11-15 | 2.50% | US515110BT00 |
| Landesbank Hessen-Thueringen Girozentrale | 4.00% | 2027-12-01 | 3.15% | DE000HEL0PX2 |
| DZ Bank AG | 4.89% | 2028-05-05 | 3.75% | XS3032966544 |
| Landesbank Hessen-Thueringen Girozentrale | 4.13% | 2028-07-24 | 4.00% | DE000HEL0XY4 |
| DZ Bank AG | 4.85% | 2028-10-02 | 3.25% | XS3168189358 |
| DZ Bank AG | 4.93% | 2029-02-05 | 3.15% | XS3265588007 |
| DZ Bank AG | 4.92% | 2029-02-05 | 3.25% | XS3282840068 |
| Bayerische Landesbank | 4.57% | 2029-02-23 | 3.80% | DE000BYL0FH8 |
| Landesbank Hessen-Thueringen Girozentrale | 4.69% | 2030-05-02 | 4.00% | DE000HEL0GS1 |
| DZ Bank AG | 4.90% | 2030-07-30 | 4.20% | XS3137826890 |
| Landwirtschaftliche Rentenbank | 4.40% | 2030-09-03 | 0.88% | US515110BY94 |
| Landwirtschaftliche Rentenbank | 4.48% | 2031-02-06 | 4.12% | XS2760775549 |
| Landesbank Hessen-Thueringen Girozentrale | 4.98% | 2032-10-06 | 4.00% | DE000HEL0MM2 |
| Landesbank Hessen-Thueringen Girozentrale | 5.00% | 2032-12-30 | 4.00% | DE000HEL0QU6 |
| Landwirtschaftliche Rentenbank | 4.59% | 2033-01-21 | 4.00% | XS3276317990 |
| Landesbank Hessen-Thueringen Girozentrale | 5.08% | 2033-12-01 | 4.00% | DE000HEL0PY0 |
| Dekabank Deutsche Girozentrale | 5.13% | 2036-01-25 | 1.86% | DE000DK0ZMP2 |
| Deutsche Bank AG | 5.30% | 2036-07-17 | 5.25% | US25161FFU75 |
| Deutsche Bank AG | 5.50% | 2036-07-17 | 5.50% | US25161F5W40 |