Hong Kong Non-Callable Corporate Bond Yields (USD)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/usd-corporate-hong-kong-non-callable
Hong Kong Non-Callable Corporate Bond Yields (USD) as of 2026-07-27: 10Y at 5.14%, fitted curve 1M–20Y (4.87%–5.92%), 60 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 4.89% | — |
| 3M | 4.89% | 4.89% |
| 6M | 4.89% | 4.89% |
| 9M | 4.89% | 4.89% |
| 12M | 4.89% | 4.90% |
| 18M | 4.89% | 4.90% |
| 2Y | 4.90% | 4.90% |
| 3Y | 4.89% | 4.88% |
| 4Y | 4.87% | 4.83% |
| 5Y | 4.88% | 4.89% |
| 9Y | 5.08% | 5.34% |
| 10Y | 5.14% | 5.68% |
| 20Y | 5.92% | 6.71% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 4.90% and the 10-year 5.14%, a 10Y−2Y spread of +25 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% | 4.69% | 4.80% | 4.60% | 4.59% | 4.23% | 4.25% |
| 10Y | 5.14% | 4.86% | 4.86% | 5.22% | 5.22% | 4.95% | 5.27% |
| 10Y − 2Y | +25 bp | +16 bp | +5 bp | +63 bp | +63 bp | +72 bp | +102 bp |
Yields by rating group
The same curve split by credit quality: 53 rated bonds across 3 rating bands, all maturities pooled. Median yield by band: AAA to AA- 5.61%, A+ to BBB- 4.80%, Speculative 6.29%.
Bonds in this curve
A selection of 30 of the 63 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Cathay Pacific MTN Financing (HK) Limited | 4.77% | 2026-08-17 | 4.88% | XS2333657422 |
| YI Bright International Limited | 7.16% | 2026-08-17 | 7.40% | XS2658712752 |
| Anhui Transportation Holding Group (H.K.) Limited | 6.06% | 2026-08-26 | 1.62% | XS2374621493 |
| Icbcil Finance Co. Limited | 4.68% | 2026-11-02 | 2.25% | XS2393958488 |
| Citic LTD | 4.71% | 2027-02-28 | 3.88% | XS1570263563 |
| CK Hutchison Holdings Limited | 4.52% | 2027-04-05 | 3.50% | USG2177UAB55 |
| FAR East Horizon Limited | 5.07% | 2027-04-16 | 6.62% | XS2800583606 |
| YI Bright International Limited | 4.88% | 2027-06-20 | 6.68% | XS2843465647 |
| Castle Peak Power Finance Company Limited | 4.62% | 2027-07-25 | 3.25% | XS1648263926 |
| Bocom Leasing Management Hong Kong Company Limited | 4.87% | 2027-08-23 | 4.50% | XS2886030902 |
| Jinan Urban Construction International Investment CO., Limited | 5.32% | 2027-11-06 | 5.00% | XS2927468657 |
| Icbcil Finance Co. Limited | 4.76% | 2027-11-15 | 3.62% | XS1716970261 |
| Swire Properties MTN Financing Limited | 4.66% | 2028-01-10 | 3.50% | XS1743657683 |
| Guotai Junan International Holdings LTD. | 5.28% | 2028-07-15 | 4.25% | XS3109419997 |
| Celestial Dynasty Limited | 6.67% | 2028-08-22 | 6.38% | XS2877153234 |
| FAR East Horizon Limited | 5.68% | 2028-10-01 | 6.00% | XS3025777221 |
| Yuexiu Reit MTN Company Limited | 5.67% | 2029-02-12 | 6.50% | XS3278608875 |
| Henderson Land MTN Limited | 5.30% | 2029-03-01 | 3.88% | XS1957446377 |
| CMB International Leasing Management Limited | 4.99% | 2029-07-03 | 3.62% | XS2019219612 |
| Citic LTD | 4.72% | 2030-02-25 | 2.85% | XS2109790001 |
| NWD (MTN) Limited | 10.33% | 2030-05-19 | 4.50% | XS2175969125 |
| Hongkong Electric Finance Limited | 4.65% | 2030-06-09 | 2.25% | XS2181902789 |
| CMB International Leasing Management Limited | 4.77% | 2031-02-04 | 2.88% | XS2257361464 |
| Castle Peak Power Finance Company Limited | 4.76% | 2031-03-03 | 2.12% | XS2307742267 |
| Citic LTD | 5.15% | 2035-04-14 | 4.60% | XS1215258440 |
| CLP Power Hong Kong Financing Limited | 4.92% | 2035-06-30 | 2.50% | XS2193950271 |
| Citic LTD | 5.14% | 2036-02-04 | 4.75% | XS1352923202 |
| Hongkong Electric Finance Limited | 4.98% | 2036-02-03 | 4.75% | XS3278761633 |
| AIA Group LTD | 5.59% | 2044-03-11 | 4.88% | US00131M2B87 |
| AIA Group LTD | 5.61% | 2046-03-16 | 4.50% | US00131MAE30 |