Canada Corporate Bond Yields (USD)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/usd-corporate-canada
Canada Corporate Bond Yields (USD) as of 2026-07-27: 10Y at 5.80%, fitted curve 1M–40Y (4.16%–6.89%), 635 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 4.16% | — |
| 3M | 4.30% | 4.37% |
| 6M | 4.44% | 4.57% |
| 9M | 4.52% | 4.69% |
| 12M | 4.58% | 4.76% |
| 18M | 4.68% | 4.88% |
| 2Y | 4.77% | 5.04% |
| 3Y | 4.94% | 5.29% |
| 4Y | 5.11% | 5.60% |
| 5Y | 5.26% | 5.86% |
| 6Y | 5.39% | 6.08% |
| 7Y | 5.52% | 6.26% |
| 8Y | 5.63% | 6.39% |
| 9Y | 5.72% | 6.48% |
| 10Y | 5.80% | 6.54% |
| 15Y | 6.06% | 6.58% |
| 20Y | 6.18% | 6.53% |
| 25Y | 6.31% | 6.83% |
| 30Y | 6.62% | 8.18% |
| 40Y | 6.89% | 7.70% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 4.77% and the 10-year 5.80%, a 10Y−2Y spread of +103 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 | 4.77% | 4.56% | 4.57% | 4.38% | 4.46% | 4.08% | 4.16% |
| 10Y | 5.80% | 5.47% | 5.48% | 5.35% | 5.50% | 5.06% | 5.26% |
| 10Y − 2Y | +103 bp | +91 bp | +91 bp | +96 bp | +104 bp | +98 bp | +111 bp |
Yields by rating group
The same curve split by credit quality: 1117 rated bonds across 3 rating bands, all maturities pooled. Median yield by band: AAA to AA- 4.27%, A+ to BBB- 5.21%, Speculative 6.84%.
Bonds in this curve
A selection of 30 of the 1211 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Cppib Capital INC | 6.58% | 2026-09-09 | 0.88% | US22411WAT36 |
| Toronto-Dominion Bank | 4.75% | 2026-09-10 | 1.25% | US89114TZG02 |
| Canadian Imperial Bank of Commerce | 4.01% | 2026-10-02 | 5.93% | US13607LWT69 |
| Enbridge INC | 4.57% | 2026-10-04 | 1.60% | US29250NBH70 |
| Royal Bank of Canada | 5.13% | 2026-12-14 | 4.85% | USC7976PAK24 |
| Toronto-Dominion Bank | 4.45% | 2026-12-17 | 4.57% | US89115A3A89 |
| Royal Bank of Canada | 4.82% | 2027-03-24 | 2.60% | USC7976PAD80 |
| Canadian Imperial Bank of Commerce | 4.55% | 2027-04-07 | 3.45% | US13607HR618 |
| Nutrien LTD | 4.67% | 2027-06-21 | 5.20% | US67077MBC10 |
| Enbridge INC | 5.09% | 2027-07-15 | 3.70% | US29250NAR61 |
| Royal Bank of Canada | 4.46% | 2027-11-01 | 6.00% | US78016FZU10 |
| Cppib Capital INC | 4.62% | 2027-11-02 | 2.75% | US22411WAD83 |
| Transcanada Pipelines Limited | 4.67% | 2028-05-15 | 4.25% | US89352HAW97 |
| Canadian Pacific Railway | 4.86% | 2028-06-01 | 4.00% | US13645RAY09 |
| Royal Bank of Canada | 4.68% | 2029-02-01 | 4.95% | US78016HZV58 |
| Rogers Communications INC | 5.13% | 2029-02-15 | 5.00% | US775109DE81 |
| Bank of Nova Scotia | 4.89% | 2030-02-01 | 4.85% | US06417XAP69 |
| Canadian Pacific Railway | 4.86% | 2030-03-05 | 2.05% | US13648TAA51 |
| Enbridge INC | 5.12% | 2031-02-15 | 4.50% | US29250NCN30 |
| Canadian National Railway CO | 4.98% | 2031-03-12 | 4.20% | US136375DV17 |
| Brookfield Corporation | 5.18% | 2032-01-30 | 2.34% | US11272BAA17 |
| Royal Bank of Canada | 5.11% | 2033-02-01 | 5.00% | US78016FZX58 |
| Bank of Nova Scotia | 5.30% | 2034-02-01 | 5.65% | US06418JAC53 |
| Canadian Pacific Railway | 5.28% | 2035-03-30 | 5.20% | US13645RBK95 |
| First Quantum Minerals LTD | 6.85% | 2036-02-15 | 6.38% | USC3535CAT56 |
| Suncor Energy INC | 5.94% | 2039-06-01 | 6.85% | US86722TAB89 |
| Rogers Communications INC | 6.32% | 2044-03-15 | 5.00% | US775109BB60 |
| Nutrien LTD | 6.16% | 2049-04-01 | 5.00% | US67077MAU27 |
| Bell Canada | 6.30% | 2054-02-15 | 5.55% | US0778FPAN98 |
| Transcanada Pipelines Limited | 6.85% | 2065-06-01 | 7.00% | US89352HBG39 |