Brazil Corporate Bond Yields (USD)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/usd-corporate-brazil
Brazil Corporate Bond Yields (USD) as of 2026-07-27: 10Y at 6.73%, fitted curve 3M–25Y (5.72%–7.19%), 69 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 3M | 5.72% | — |
| 6M | 5.72% | 5.72% |
| 12M | 5.72% | 5.73% |
| 18M | 5.73% | 5.73% |
| 2Y | 5.73% | 5.75% |
| 3Y | 5.76% | 5.80% |
| 4Y | 5.81% | 5.99% |
| 5Y | 5.94% | 6.45% |
| 6Y | 6.16% | 7.26% |
| 7Y | 6.41% | 7.94% |
| 8Y | 6.60% | 7.90% |
| 9Y | 6.69% | 7.46% |
| 10Y | 6.73% | 7.10% |
| 15Y | 6.76% | 6.82% |
| 20Y | 6.87% | 7.19% |
| 25Y | 7.19% | 8.47% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 5.73% and the 10-year 6.73%, a 10Y−2Y spread of +100 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 | 5.73% | 5.49% | 5.55% | 5.49% | 5.59% | 4.99% | 5.00% |
| 10Y | 6.73% | 6.01% | 6.31% | 6.13% | 6.17% | 5.95% | 5.89% |
| 10Y − 2Y | +100 bp | +53 bp | +76 bp | +64 bp | +57 bp | +96 bp | +90 bp |
Yields by rating group
The same curve split by credit quality: 95 rated bonds across 2 rating bands, all maturities pooled. Median yield by band: A+ to BBB- 5.63%, Speculative 6.09%.
Bonds in this curve
A selection of 30 of the 100 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| BRF SA | 9.20% | 2026-09-29 | 4.35% | USA08163AA41 |
| Banco DO Brasil S.A. | 8.45% | 2026-09-30 | 3.25% | USP2000TAA36 |
| Ultrapar International SA | 6.56% | 2026-10-06 | 5.25% | USL9412AAA53 |
| RIO OIL Finance Trust | 9.41% | 2027-01-06 | 9.75% | USU76673AB55 |
| Adecoagro SA | 7.67% | 2027-09-21 | 6.00% | USL00849AA47 |
| Adecoagro SA | 7.45% | 2027-09-21 | 6.00% | US00676LAA44 |
| Gerdau Trade Incorporated | 5.43% | 2027-10-24 | 4.88% | USG3925DAD24 |
| Rede D'or Finance S.A.R.L. | 6.05% | 2028-01-17 | 4.95% | USL7915RAA43 |
| Rede D'or Finance S.A.R.L. | 5.69% | 2028-01-17 | 4.95% | US75735KAA79 |
| Petroleo Brasileiro S.A. | 5.29% | 2028-01-27 | 6.00% | US71647NAY58 |
| Suzano | 5.42% | 2028-09-15 | 2.50% | US86964WAL63 |
| Suzano | 5.58% | 2029-01-15 | 6.00% | US86964WAF95 |
| Klabin Austria Gmbh | 5.49% | 2029-04-03 | 5.75% | USA35155AA77 |
| Banco BTG Pactual SA | 5.80% | 2029-04-08 | 6.25% | US05971BAK52 |
| Axia Energia | 6.10% | 2030-02-04 | 4.62% | USP22835AB13 |
| Petroleo Brasileiro S.A. | 5.83% | 2030-09-10 | 5.12% | US71647NBM02 |
| Tupy Overseas SA | 9.44% | 2031-02-16 | 4.50% | USL9326VAB29 |
| B3 S.A. - Brasil, Bolsa, Balcao | 5.95% | 2031-09-20 | 4.12% | USP19118AA91 |
| Braskem | 17.26% | 2032-02-20 | 6.99% | USP1850NAB75 |
| Constellation OIL SA | 7.65% | 2033-08-03 | 7.70% | US21038MAR43 |
| Petroleo Brasileiro S.A. | 6.16% | 2035-01-13 | 6.00% | US71647NBL29 |
| Axia Energia | 6.57% | 2035-01-11 | 6.50% | USP2281VAA81 |
| Gerdau Trade Incorporated | 5.61% | 2035-06-09 | 5.75% | US37373WAE03 |
| Petroleo Brasileiro S.A. | 6.56% | 2036-01-10 | 6.25% | US71647NBN84 |
| Embraer Netherlands Finance B.V. | 5.99% | 2038-01-09 | 5.40% | US29082HAF91 |
| Petroleo Brasileiro S.A. | 6.82% | 2040-01-20 | 6.88% | US71645WAQ42 |
| Votorantim Cimentos International SA | 5.87% | 2041-04-05 | 7.25% | USP98088AA83 |
| Suzano | 6.53% | 2047-03-16 | 7.00% | USA8372TAC20 |
| Petroleo Brasileiro S.A. | 7.22% | 2049-03-19 | 6.90% | US71647NBD03 |
| Klabin Austria Gmbh | 6.97% | 2049-04-03 | 7.00% | USA35155AB50 |