Australia Banks Corporate Bond Yields (USD)
Fitted spot curve as of 2026-09-07
https://bondscovery.com/yield-curve/usd-corporate-banks-australia
Australia Banks Corporate Bond Yields (USD) as of 2026-09-07: 10Y at 5.67%, fitted curve 1M–20Y (4.47%–5.78%), 87 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 4.47% | — |
| 3M | 4.47% | 4.48% |
| 6M | 4.48% | 4.59% |
| 9M | 4.49% | 4.57% |
| 12M | 4.50% | 4.57% |
| 18M | 4.53% | 4.63% |
| 2Y | 4.56% | 4.71% |
| 3Y | 4.65% | 4.90% |
| 4Y | 4.78% | 5.28% |
| 5Y | 4.95% | 5.81% |
| 6Y | 5.14% | 6.38% |
| 7Y | 5.33% | 6.81% |
| 8Y | 5.48% | 6.97% |
| 10Y | 5.67% | 6.80% |
| 20Y | 5.78% | 6.05% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 4.56% and the 10-year 5.67%, a 10Y−2Y spread of +111 bp — positively sloped — as of 2026-09-07. 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 | Latest2026-09-07 | 1m ago2026-08-07 | 2m ago2026-07-09 | 3m ago2026-06-09 | 4m ago2026-05-11 | 5m ago2026-04-10 | 6m ago2026-03-11 |
|---|---|---|---|---|---|---|---|
| 2Y | 4.56% | 4.40% | 4.43% | 4.36% | 4.21% | 4.21% | 3.85% |
| 10Y | 5.67% | — | 5.58% | 5.60% | 5.44% | 5.50% | 5.22% |
| 10Y − 2Y | +111 bp | — | +115 bp | +124 bp | +123 bp | +129 bp | +137 bp |
Yields by rating group
The same curve split by credit quality: 102 rated bonds across 2 rating bands, all maturities pooled. Median yield by band: AAA to AA- 4.58%, A+ to BBB- 5.20%.
Bonds in this curve
A selection of 30 of the 102 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Westpac Banking Corporation | 4.78% | 2026-09-30 | 1.55% | USQ97417FA49 |
| Westpac Banking Corporation | 3.91% | 2026-09-30 | 1.55% | US961214EZ26 |
| Westpac Banking Corporation | 5.12% | 2026-10-20 | 4.60% | US961214FV03 |
| Macquarie Bank LTD | 5.01% | 2026-12-07 | 5.39% | US55608RBQ20 |
| National Australia Bank Limited | 4.42% | 2027-01-10 | 3.50% | US6325C1CL16 |
| Westpac Banking Corporation | 4.58% | 2027-03-08 | 3.35% | US961214DK65 |
| Commonwealth Bank of Australia | 4.84% | 2027-03-14 | 2.55% | US2027A1KK25 |
| National Australia Bank Limited | 4.83% | 2027-06-09 | 3.90% | US63254ABE73 |
| Macquarie Bank LTD | 4.62% | 2027-07-02 | 5.27% | US55608RBT68 |
| Westpac Banking Corporation | 4.53% | 2027-08-26 | 4.04% | US961214FC22 |
| Commonwealth Bank of Australia | 4.64% | 2027-09-19 | 3.15% | US2027A1JT52 |
| Westpac Banking Corporation | 4.42% | 2028-01-25 | 3.40% | US961214DW04 |
| Commonwealth Bank of Australia | 4.60% | 2028-03-16 | 3.90% | US2027A1JZ13 |
| Macquarie Group LTD | 4.48% | 2028-06-21 | 4.10% | US55608KBC80 |
| Commonwealth Bank of Australia | 4.80% | 2028-09-14 | 5.07% | US20271BAL99 |
| Macquarie Group LTD | 4.73% | 2029-03-27 | 4.65% | US55608KAN54 |
| Westpac Banking Corporation | 4.82% | 2029-04-16 | 5.05% | US961214FT56 |
| Westpac Banking Corporation | 4.85% | 2030-07-01 | 4.35% | US961214GC13 |
| Commonwealth Bank of Australia | 4.74% | 2030-10-01 | 4.15% | US20271RAW07 |
| Westpac Banking Corporation | 5.03% | 2031-06-12 | 4.45% | US9612EVAB54 |
| Commonwealth Bank of Australia | 4.87% | 2031-09-15 | 1.88% | US2027A1KF30 |
| Macquarie Group LTD | 4.98% | 2032-06-23 | 2.69% | USQ57085HK32 |
| Macquarie Group LTD | 5.20% | 2033-01-14 | 2.87% | US55608KAZ84 |
| Macquarie Group LTD | 5.40% | 2033-06-21 | 4.44% | US55608KBE47 |
| Macquarie Group LTD | 5.56% | 2033-11-09 | 5.49% | US55608KBG94 |
| Macquarie Group LTD | 5.66% | 2034-06-15 | 5.89% | US55608KBN46 |
| Macquarie Group LTD | 5.71% | 2034-12-07 | 6.25% | US55608KBQ76 |
| National Australia Bank Limited | 5.81% | 2037-06-04 | 5.62% | USQ6535DCS10 |
| Commonwealth Bank of Australia | 5.85% | 2047-07-12 | 3.90% | US2027A1JN82 |
| Commonwealth Bank of Australia | 5.72% | 2047-07-12 | 3.90% | US2027A0JN00 |