Germany Callable Corporate Bond Yields (USD)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/usd-corporate-germany-callable
Germany Callable Corporate Bond Yields (USD) as of 2026-07-27: 10Y at 5.69%, fitted curve 1M–40Y (4.68%–6.79%), 366 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 4.68% | — |
| 3M | 4.70% | 4.71% |
| 6M | 4.73% | 4.76% |
| 9M | 4.76% | 4.81% |
| 12M | 4.79% | 4.87% |
| 18M | 4.84% | 4.95% |
| 2Y | 4.90% | 5.06% |
| 3Y | 5.01% | 5.23% |
| 4Y | 5.12% | 5.44% |
| 5Y | 5.22% | 5.65% |
| 6Y | 5.32% | 5.84% |
| 7Y | 5.42% | 6.02% |
| 8Y | 5.52% | 6.18% |
| 9Y | 5.61% | 6.33% |
| 10Y | 5.69% | 6.46% |
| 15Y | 6.03% | 6.71% |
| 20Y | 6.20% | 6.70% |
| 25Y | 6.22% | 6.32% |
| 30Y | 6.29% | 6.65% |
| 40Y | 6.79% | 8.28% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 4.90% and the 10-year 5.69%, a 10Y−2Y spread of +80 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 | 4.90% | 4.70% | 4.61% | 4.47% | 4.53% | 4.05% | 4.14% |
| 10Y | 5.69% | 5.56% | 5.66% | 5.45% | 5.56% | 5.27% | 5.27% |
| 10Y − 2Y | +80 bp | +86 bp | +105 bp | +98 bp | +103 bp | +122 bp | +113 bp |
Yields by rating group
The same curve split by credit quality: 634 rated bonds across 3 rating bands, all maturities pooled. Median yield by band: AAA to AA- 4.83%, A+ to BBB- 5.44%, Speculative 6.90%.
Bonds in this curve
A selection of 30 of the 634 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Volkswagen Group | 5.40% | 2026-09-12 | 5.70% | USU9273ADR33 |
| Volkswagen Group | 5.58% | 2026-09-26 | 3.20% | USU9273ACX10 |
| Mercedes-Benz | 5.27% | 2026-11-13 | 4.80% | USU5876JBB09 |
| Volkswagen Group | 5.10% | 2026-11-16 | 6.00% | USU9273ADW28 |
| Daimler Truck Finance North America LLC | 4.93% | 2026-12-14 | 2.00% | USU2340BAF41 |
| Mercedes-Benz | 5.02% | 2027-01-11 | 4.80% | USU5876JAQ86 |
| Siemens AG | 4.28% | 2027-03-16 | 3.40% | USN82008AU28 |
| BMW | 4.59% | 2027-03-19 | 4.65% | USU09513KG38 |
| Mercedes-Benz | 4.73% | 2027-08-01 | 4.75% | USU5876JAU98 |
| BMW | 4.61% | 2027-08-13 | 4.60% | USU09513KC24 |
| Mercedes-Benz | 4.84% | 2027-11-15 | 4.90% | USU5876JAZ85 |
| Volkswagen Group | 5.00% | 2027-11-24 | 1.62% | USU9273ADF94 |
| Deutsche Telekom AG | 4.57% | 2028-06-21 | 4.38% | USN2557FFL33 |
| Mercedes-Benz | 4.91% | 2028-08-03 | 5.10% | USU5876JAL99 |
| Mercedes-Benz | 5.03% | 2029-03-10 | 4.25% | USU5876JBQ77 |
| BMW | 4.85% | 2029-03-19 | 4.40% | US05565EDG70 |
| BMW | 5.07% | 2030-03-21 | 5.05% | USU09513KL23 |
| Volkswagen Group | 5.27% | 2030-03-27 | 5.35% | USU9273AEL53 |
| Fresenius SE & CO Kgaa | 5.49% | 2031-02-16 | 2.38% | USU3149FAB59 |
| Mercedes-Benz | 5.15% | 2031-03-02 | 2.45% | USU2339CEB01 |
| Volkswagen Group | 5.65% | 2032-03-25 | 5.65% | USU9273AEM37 |
| BMW | 5.46% | 2033-03-19 | 5.00% | US05565EDJ10 |
| BMW | 5.48% | 2034-04-02 | 5.15% | USU09513JX89 |
| BMW | 5.58% | 2035-03-21 | 5.40% | USU09513KM06 |
| Deutsche Telekom AG | 5.50% | 2038-06-21 | 4.75% | USN2557FFM16 |
| Siemens AG | 5.61% | 2041-03-11 | 2.88% | USN82008BB38 |
| Bayer AG | 6.58% | 2044-07-15 | 4.40% | US07274NBF96 |
| Deutsche Telekom AG | 6.05% | 2050-01-21 | 3.62% | USD2035MYV82 |
| Deutsche Bank AG | 6.33% | 2054-09-30 | 5.30% | US25161FLM85 |
| Bayer AG | 6.72% | 2064-07-15 | 4.70% | US07274NBH52 |