Japan Non-Callable Banks Corporate Bond Yields (USD)
Fitted spot curve as of 2026-09-10
https://bondscovery.com/yield-curve/usd-corporate-banks-japan-non-callable
Japan Non-Callable Banks Corporate Bond Yields (USD) as of 2026-09-10: 10Y at 5.58%, fitted curve 1M–10Y (4.56%–5.58%), 37 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 4.56% | — |
| 3M | 4.60% | 4.61% |
| 6M | 4.65% | 4.81% |
| 9M | 4.70% | 4.92% |
| 12M | 4.75% | 4.92% |
| 18M | 4.85% | 5.12% |
| 2Y | 4.94% | 5.31% |
| 3Y | 5.11% | 5.55% |
| 4Y | 5.25% | 5.78% |
| 5Y | 5.35% | 5.92% |
| 6Y | 5.43% | 5.98% |
| 7Y | 5.49% | 5.99% |
| 8Y | 5.53% | 5.97% |
| 9Y | 5.56% | 5.93% |
| 10Y | 5.58% | 5.89% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 4.94% and the 10-year 5.58%, a 10Y−2Y spread of +63 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 | 4.94% | 4.66% | 4.64% | 4.61% | 4.36% | 4.32% | 4.16% |
| 10Y | 5.58% | 5.45% | 5.32% | 5.28% | 5.31% | 5.15% | 5.06% |
| 10Y − 2Y | +63 bp | +80 bp | +67 bp | +67 bp | +96 bp | +83 bp | +90 bp |
Bonds in this curve
A selection of 30 of the 39 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Sumitomo Mitsui Financial Group INC | 4.12% | 2026-10-19 | 3.01% | US86562MAK62 |
| Sumitomo Mitsui Financial Group INC | 4.30% | 2027-01-14 | 2.17% | US86562MCM01 |
| Nomura Holdings INC | 5.56% | 2027-01-22 | 2.33% | US65535HAZ29 |
| Mitsubishi UFJ Financial Group (Mufg) | 4.40% | 2027-02-22 | 3.68% | US606822AN45 |
| Sumitomo Mitsui Trust Bank | 4.29% | 2027-03-10 | 2.80% | US86563VBA61 |
| Sumitomo Mitsui Trust Bank | 5.30% | 2027-03-10 | 2.80% | USJ7771YLR64 |
| Nomura Holdings INC | 5.15% | 2027-07-06 | 5.39% | US65535HBF55 |
| Development Bank of Japan | 5.39% | 2027-09-01 | 2.62% | XS1668899104 |
| Mizuho Financial Group | 4.57% | 2027-09-11 | 3.17% | US60687YAM12 |
| Sumitomo Mitsui Financial Group INC | 4.89% | 2028-01-17 | 3.54% | US86562MAY66 |
| Nomura Holdings INC | 4.87% | 2028-01-18 | 5.84% | US65535HBH12 |
| Mizuho Financial Group | 4.80% | 2028-03-05 | 4.02% | US60687YAR09 |
| Sumitomo Mitsui Trust Bank | 5.06% | 2028-03-13 | 4.50% | USJ7771YTX50 |
| Nomura Holdings INC | 5.23% | 2028-07-12 | 6.07% | US65535HBM07 |
| Development Bank of Japan | 4.67% | 2028-08-28 | 3.88% | XS3148234944 |
| Development Bank of Japan | 4.63% | 2028-09-06 | 3.25% | XS1865126343 |
| Nomura Holdings INC | 5.35% | 2029-07-06 | 5.61% | US65535HBC25 |
| Development Bank of Japan | 4.80% | 2029-08-28 | 1.88% | XS2045822462 |
| Sumitomo Mitsui Trust Bank | 5.02% | 2029-09-04 | 4.85% | US86563VCM90 |
| Sumitomo Mitsui Trust Bank | 5.20% | 2030-03-13 | 4.70% | USJ7771YTZ09 |
| Development Bank of Japan | 4.86% | 2030-08-27 | 1.00% | XS2216812581 |
| Development Bank of Japan | 4.90% | 2031-01-28 | 1.25% | XS2292953069 |
| Sumitomo Mitsui Financial Group INC | 5.52% | 2032-01-15 | 5.45% | US86562MDT45 |
| Nomura Holdings INC | 5.64% | 2032-01-22 | 3.00% | US65535HBA68 |
| Nomura Holdings INC | 5.67% | 2033-01-18 | 6.18% | US65535HBK41 |
| Nomura Holdings INC | 5.69% | 2033-07-12 | 6.09% | US65535HBP38 |
| Sumitomo Mitsui Financial Group INC | 5.70% | 2035-01-15 | 5.63% | US86562MDU18 |
| Development Bank of Japan | 4.92% | 2035-01-16 | 4.88% | XS2966427895 |
| Sumitomo Mitsui Trust Bank | 5.67% | 2035-03-13 | 5.05% | USJ7771YUB12 |
| Mitsubishi UFJ Financial Group (Mufg) | 5.52% | 2038-07-26 | 4.29% | US606822BB97 |