Canada Senior Unsecured Callable Corporate Bond Yields (USD)
Fitted spot curve as of 2026-09-10
https://bondscovery.com/yield-curve/usd-corporate-senior-unsecured-canada-callable
Canada Senior Unsecured Callable Corporate Bond Yields (USD) as of 2026-09-10: 10Y at 5.89%, fitted curve 1M–40Y (4.63%–6.38%), 652 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 4.63% | — |
| 3M | 4.65% | 4.67% |
| 6M | 4.69% | 4.85% |
| 9M | 4.74% | 4.92% |
| 12M | 4.78% | 4.92% |
| 18M | 4.86% | 5.08% |
| 2Y | 4.93% | 5.25% |
| 3Y | 5.09% | 5.49% |
| 4Y | 5.23% | 5.81% |
| 5Y | 5.37% | 6.09% |
| 6Y | 5.50% | 6.35% |
| 7Y | 5.61% | 6.58% |
| 8Y | 5.72% | 6.77% |
| 9Y | 5.81% | 6.92% |
| 10Y | 5.89% | 7.05% |
| 15Y | 6.17% | 7.20% |
| 20Y | 6.23% | 6.70% |
| 25Y | 6.23% | 6.36% |
| 30Y | 6.36% | 8.40% |
| 40Y | 6.38% | 6.85% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 4.93% and the 10-year 5.89%, a 10Y−2Y spread of +96 bp — positively sloped — as of 2026-09-10. 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 | Latest2026-09-10 | 1m ago2026-08-11 | 2m ago2026-07-13 | 3m ago2026-06-12 | 4m ago2026-05-13 | 5m ago2026-04-13 | 6m ago2026-03-13 |
|---|---|---|---|---|---|---|---|
| 2Y | 4.93% | 4.77% | 4.79% | 4.69% | 4.62% | 4.61% | 4.33% |
| 10Y | 5.89% | 5.76% | 5.57% | 5.49% | 5.54% | 5.37% | 5.37% |
| 10Y − 2Y | +96 bp | +98 bp | +78 bp | +79 bp | +92 bp | +76 bp | +104 bp |
Yields by rating group
The same curve split by credit quality: 1245 rated bonds across 3 rating bands, all maturities pooled. Median yield by band: AAA to AA- 5.25%, A+ to BBB- 5.32%, Speculative 6.73%.
Bonds in this curve
A selection of 30 of the 1246 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Fortisbc INC | 5.48% | 2026-10-04 | 3.06% | US349553AM97 |
| Bank of Montreal | 4.69% | 2026-10-29 | 1.50% | US06368G2A41 |
| Enbridge INC | 4.97% | 2026-11-15 | 5.90% | US29250NBW48 |
| Rogers Communications INC | 5.30% | 2026-11-15 | 2.90% | US775109BF74 |
| Bank of Nova Scotia | 4.58% | 2027-02-02 | 1.95% | US06417XAD30 |
| Telus Corp | 5.36% | 2027-02-16 | 2.80% | US87971MBD48 |
| Canadian Natural Resources LTD | 4.88% | 2027-06-01 | 3.85% | US136385AX99 |
| Bank of Montreal | 4.54% | 2027-06-04 | 5.37% | US06368L3K06 |
| Royal Bank of Canada | 4.43% | 2027-08-03 | 4.24% | US78016FZS63 |
| Telus Corp | 4.84% | 2027-09-15 | 3.70% | US87971MBF95 |
| Royal Bank of Canada | 4.68% | 2028-01-12 | 4.90% | US78016FZW75 |
| Toronto-Dominion Bank | 4.81% | 2028-01-13 | 3.91% | US89115KAK60 |
| Bank of Nova Scotia | 4.72% | 2028-06-12 | 5.25% | US06418GAD97 |
| Enbridge INC | 4.99% | 2028-06-20 | 4.60% | US29250NCH61 |
| Magna International INC | 5.04% | 2029-03-14 | 5.05% | US559222BA12 |
| Canadian Pacific Railway | 5.08% | 2029-03-15 | 4.00% | US13645RBP82 |
| Element Fleet Management Corp | 5.38% | 2030-03-25 | 5.04% | USC3318LAF88 |
| Canadian Pacific Railway | 5.11% | 2030-03-30 | 4.80% | US13645RBJ23 |
| Canadian National Railway CO | 5.22% | 2031-03-12 | 4.20% | US136375DV17 |
| Enbridge INC | 5.28% | 2031-03-27 | 4.85% | US29250NCQ60 |
| Nutrien LTD | 5.48% | 2032-03-12 | 5.25% | US67077MBF41 |
| Magna International INC | 5.56% | 2033-03-21 | 5.50% | US559222AY07 |
| Enbridge INC | 5.59% | 2034-04-05 | 5.62% | US29250NCC74 |
| Canadian Pacific Railway | 5.47% | 2035-03-30 | 5.20% | US13645RBK95 |
| Enbridge INC | 5.78% | 2036-03-27 | 5.45% | US29250NCR44 |
| Suncor Energy INC | 6.09% | 2039-06-01 | 6.85% | US86722TAB89 |
| Rogers Communications INC | 6.48% | 2044-03-15 | 5.00% | US775109BB60 |
| Transcanada Pipelines Limited | 6.06% | 2049-03-15 | 5.10% | US89352HAZ29 |
| Fairfax Financial Holdings LTD | 6.64% | 2054-03-22 | 6.35% | US303901BR22 |
| TC Energy Corporation | 6.42% | 2063-08-15 | 6.71% | US19828TAD81 |