Spain Callable Banks Corporate Bond Yields (USD)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/usd-corporate-banks-spain-callable
Spain Callable Banks Corporate Bond Yields (USD) as of 2026-07-27: 10Y at 5.77%, fitted curve 3M–10Y (4.56%–5.77%), 28 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 3M | 4.56% | — |
| 9M | 4.62% | 4.65% |
| 12M | 4.66% | 4.75% |
| 18M | 4.72% | 4.86% |
| 2Y | 4.79% | 5.01% |
| 3Y | 4.95% | 5.25% |
| 4Y | 5.10% | 5.57% |
| 5Y | 5.25% | 5.86% |
| 6Y | 5.39% | 6.10% |
| 7Y | 5.52% | 6.25% |
| 8Y | 5.62% | 6.34% |
| 10Y | 5.77% | 6.35% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 4.79% and the 10-year 5.77%, a 10Y−2Y spread of +97 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 | 4.79% | 4.71% | 4.71% | 4.59% | 4.68% | 4.25% | 4.44% |
| 10Y | 5.77% | 5.74% | 6.04% | 6.47% | 5.89% | 6.21% | — |
| 10Y − 2Y | +97 bp | +103 bp | +133 bp | +188 bp | +122 bp | +196 bp | — |
Yields by rating group
The same curve split by credit quality: 33 rated bonds across 3 rating bands, all maturities pooled. Median yield by band: AAA to AA- 4.48%, A+ to BBB- 5.07%, Speculative 5.62%.
Bonds in this curve
A selection of 30 of the 33 bonds behind this curve, spread across maturities. Greyed rows carry an older quote.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Banco Santander SA | 4.27% | 2026-10-05 | 3.24% | US80282KAZ93 |
| Banco Santander SA | 4.59% | 2027-04-11 | 4.25% | US05964HAB15 |
| Banco Santander SA | 4.27% | 2027-07-13 | 4.40% | US80282KAP12 |
| Banco Santander SA | 4.97% | 2027-08-18 | 5.29% | US05964HAS40 |
| Banco Santander SA | 4.48% | 2027-12-12 | 4.50% | US80283LBB80 |
| Banco Santander SA | 4.82% | 2028-02-23 | 3.80% | US05964HAF29 |
| Banco Santander SA | 4.53% | 2028-03-24 | 4.17% | US05964HAQ83 |
| Banco Santander SA | 4.79% | 2028-04-12 | 4.38% | US05964HAJ41 |
| Banco Santander SA | 5.02% | 2028-07-15 | 5.37% | US05964HBF10 |
| Bbva | 5.54% | 2028-09-14 | 6.14% | US05946KAL52 |
| Banco Santander SA | 4.81% | 2028-11-07 | 6.61% | US05964HAY18 |
| Bbva | 4.77% | 2029-03-03 | 4.15% | US05946KAT88 |
| Bbva | 4.90% | 2029-03-13 | 5.38% | US05946KAQ40 |
| Banco Santander SA | 5.23% | 2029-12-10 | 5.62% | USP1507SAL18 |
| Banco Santander SA | 5.03% | 2029-12-10 | 5.62% | US05969BAF04 |
| Banco Santander SA | 5.10% | 2030-03-14 | 5.54% | US05964HBB06 |
| Banco Santander SA | 5.00% | 2030-11-20 | 4.55% | US05973N2A86 |
| Banco Santander SA | 5.00% | 2030-11-20 | 4.55% | US05973P2A32 |
| Banco Santander SA | 5.45% | 2030-12-03 | 2.75% | US05971KAG40 |
| Banco Santander SA | 5.17% | 2031-07-15 | 5.44% | US05964HBG92 |
| Banco Santander SA | 5.13% | 2031-10-26 | 3.18% | US05970FAD33 |
| Banco Santander SA | 5.24% | 2031-10-26 | 3.18% | US05971WAD56 |
| Banco Santander SA | 5.16% | 2032-11-22 | 3.23% | US05971KAL35 |
| Bbva | 5.54% | 2033-01-18 | 5.12% | US05533UAF57 |
| Bbva | 5.70% | 2033-01-18 | 5.12% | USP16259AM84 |
| Banco Santander SA | 5.25% | 2033-11-07 | 6.94% | US05964HAZ82 |
| Bbva | 6.32% | 2034-09-13 | 5.88% | USP16259AN67 |
| Bbva | 6.09% | 2034-09-13 | 5.88% | US05533UAG31 |
| Bbva | 6.01% | 2034-11-15 | 7.88% | US05946KAN19 |
| Bbva | 5.76% | 2036-03-03 | 5.13% | US05946KAU51 |