Germany Callable Corporate Bond Yields (USD)
Fitted spot curve as of 2026-09-11
https://bondscovery.com/yield-curve/usd-corporate-germany-callable
Germany Callable Corporate Bond Yields (USD) as of 2026-09-11: 10Y at 5.96%, fitted curve 1M–40Y (4.69%–6.82%), 363 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 4.69% | — |
| 3M | 4.72% | 4.73% |
| 6M | 4.76% | 4.92% |
| 9M | 4.80% | 5.00% |
| 12M | 4.85% | 5.00% |
| 18M | 4.93% | 5.17% |
| 2Y | 5.02% | 5.35% |
| 3Y | 5.18% | 5.61% |
| 4Y | 5.33% | 5.94% |
| 5Y | 5.48% | 6.24% |
| 6Y | 5.61% | 6.49% |
| 7Y | 5.72% | 6.69% |
| 8Y | 5.82% | 6.82% |
| 9Y | 5.90% | 6.87% |
| 10Y | 5.96% | 6.84% |
| 15Y | 6.13% | 6.78% |
| 20Y | 6.36% | 7.96% |
| 25Y | 6.46% | 7.60% |
| 30Y | 6.50% | 7.27% |
| 40Y | 6.82% | 13.23% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 5.02% and the 10-year 5.96%, a 10Y−2Y spread of +95 bp — positively sloped — as of 2026-09-11. 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 | Latest2026-09-11 | 1m ago2026-08-12 | 2m ago2026-07-13 | 3m ago2026-06-12 | 4m ago2026-05-14 | 5m ago2026-04-14 | 6m ago2026-03-16 |
|---|---|---|---|---|---|---|---|
| 2Y | 5.02% | 4.79% | 4.78% | 4.67% | 4.57% | 4.51% | 4.27% |
| 10Y | 5.96% | 5.80% | 5.54% | 5.64% | 5.55% | 5.51% | 5.45% |
| 10Y − 2Y | +95 bp | +102 bp | +77 bp | +98 bp | +99 bp | +99 bp | +118 bp |
Yields by rating group
The same curve split by credit quality: 658 rated bonds across 3 rating bands, all maturities pooled. Median yield by band: AAA to AA- 5.19%, A+ to BBB- 5.61%, Speculative 6.90%.
Bonds in this curve
A selection of 30 of the 658 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Siemens AG | 4.02% | 2026-10-15 | 2.35% | US82620KAL70 |
| Siemens AG | 5.19% | 2026-10-15 | 2.35% | USN82008AL29 |
| Mercedes-Benz | 5.69% | 2026-11-13 | 4.80% | USU5876JBB09 |
| Volkswagen Group | 5.53% | 2026-11-16 | 6.00% | USU9273ADW28 |
| Siemens AG | 4.34% | 2027-03-16 | 3.40% | US82620KAU79 |
| Siemens AG | 4.41% | 2027-03-16 | 3.40% | USN82008AU28 |
| Volkswagen Group | 4.93% | 2027-06-08 | 4.35% | USU9273ADL62 |
| Volkswagen Group | 4.54% | 2027-06-08 | 4.35% | US928668BS02 |
| Mercedes-Benz | 4.56% | 2027-08-01 | 4.75% | US58769JAU16 |
| Mercedes-Benz | 4.76% | 2027-08-01 | 4.75% | USU5876JAU98 |
| Daimler Truck Finance North America LLC | 4.87% | 2028-01-13 | 4.95% | USU2340BBC01 |
| Daimler Truck Finance North America LLC | 5.00% | 2028-01-19 | 5.12% | USU2340BAQ06 |
| Deutsche Telekom AG | 4.94% | 2028-06-21 | 4.38% | USN2557FFL33 |
| BMW | 4.99% | 2028-08-04 | 4.75% | US05565EDP79 |
| BMW | 5.10% | 2029-03-19 | 4.40% | US05565EDG70 |
| BMW | 5.03% | 2029-03-19 | 4.40% | USU09513KV05 |
| Deutsche Bank AG | 5.47% | 2030-03-15 | 5.05% | US25161FSQ27 |
| BMW | 5.37% | 2030-03-21 | 5.05% | USU09513KL23 |
| BMW | 5.49% | 2031-03-19 | 4.65% | USU09513KW87 |
| ZF Friedrichshafen AG | 7.00% | 2031-03-24 | 7.50% | US98877DAH89 |
| Volkswagen Group | 5.80% | 2032-03-25 | 5.65% | USU9273AEM37 |
| BMW | 5.75% | 2033-03-19 | 5.00% | US05565EDJ10 |
| Volkswagen Group | 6.02% | 2034-03-22 | 5.60% | US928668CH38 |
| BMW | 5.82% | 2035-03-21 | 5.40% | USU09513KM06 |
| Deutsche Telekom AG | 5.79% | 2038-06-21 | 4.75% | USN2557FFM16 |
| Siemens AG | 5.83% | 2041-03-11 | 2.88% | USN82008BB38 |
| Bayer AG | 6.58% | 2044-07-15 | 4.40% | US07274NBF96 |
| Deutsche Telekom AG | 6.27% | 2050-01-21 | 3.62% | USD2035MYV82 |
| Siemens AG | 6.01% | 2055-05-28 | 5.80% | US82622RAF38 |
| Bayer AG | 6.81% | 2064-07-15 | 4.70% | US07274NBH52 |