Germany Senior Unsecured Corporate Bond Yields (USD)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/usd-corporate-senior-unsecured-germany
Germany Senior Unsecured Corporate Bond Yields (USD) as of 2026-07-27: 10Y at 5.76%, fitted curve 1M–40Y (4.50%–6.69%), 300 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 4.50% | — |
| 3M | 4.52% | 4.54% |
| 6M | 4.56% | 4.60% |
| 9M | 4.60% | 4.68% |
| 12M | 4.64% | 4.76% |
| 18M | 4.72% | 4.87% |
| 2Y | 4.79% | 5.02% |
| 3Y | 4.94% | 5.24% |
| 4Y | 5.09% | 5.52% |
| 5Y | 5.22% | 5.76% |
| 6Y | 5.35% | 5.98% |
| 7Y | 5.47% | 6.17% |
| 8Y | 5.57% | 6.33% |
| 9Y | 5.67% | 6.45% |
| 10Y | 5.76% | 6.55% |
| 15Y | 6.07% | 6.69% |
| 20Y | 6.22% | 6.68% |
| 25Y | 6.29% | 6.59% |
| 30Y | 6.40% | 6.95% |
| 40Y | 6.69% | 7.56% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 4.79% and the 10-year 5.76%, a 10Y−2Y spread of +96 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 | 4.79% | 4.64% | 4.62% | 4.41% | 4.52% | 4.14% | 4.23% |
| 10Y | 5.76% | 5.62% | 5.67% | 5.64% | 5.60% | 5.36% | 5.36% |
| 10Y − 2Y | +96 bp | +97 bp | +105 bp | +123 bp | +108 bp | +122 bp | +113 bp |
Yields by rating group
The same curve split by credit quality: 580 rated bonds across 2 rating bands, all maturities pooled. Median yield by band: AAA to AA- 4.67%, A+ to BBB- 5.53%.
Bonds in this curve
A selection of 30 of the 580 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Volkswagen Group | 4.31% | 2026-08-14 | 4.90% | US928668CK66 |
| DZ Bank AG | 4.35% | 2026-10-02 | 3.35% | XS2892332458 |
| DZ Bank AG | 4.25% | 2026-11-05 | 3.00% | XS2910559231 |
| DZ Bank AG | 4.63% | 2026-12-18 | 4.40% | XS2731508540 |
| DZ Bank AG | 4.63% | 2026-12-18 | 4.35% | XS2775708824 |
| BMW | 4.59% | 2027-03-19 | 4.65% | USU09513KG38 |
| DZ Bank AG | 4.92% | 2027-03-18 | 1.84% | XS2454338596 |
| DZ Bank AG | 4.68% | 2027-06-30 | 1.00% | XS2301120379 |
| BMW | 4.61% | 2027-08-13 | 4.60% | USU09513KC24 |
| Landesbank Hessen-Thueringen Girozentrale | 4.09% | 2027-11-03 | 3.15% | DE000HEL0N11 |
| Landwirtschaftliche Rentenbank | 4.36% | 2027-11-15 | 2.50% | US515110BT00 |
| DZ Bank AG | 4.89% | 2028-05-05 | 3.75% | XS3032966544 |
| Landesbank Hessen-Thueringen Girozentrale | 4.13% | 2028-07-24 | 4.00% | DE000HEL0XY4 |
| DZ Bank AG | 4.93% | 2029-02-05 | 3.15% | XS3265588007 |
| DZ Bank AG | 4.92% | 2029-02-05 | 3.25% | XS3282840068 |
| Mercedes-Benz | 5.01% | 2030-03-10 | 2.62% | USU2339CDY13 |
| BMW | 5.07% | 2030-03-21 | 5.05% | USU09513KL23 |
| Mercedes-Benz | 5.20% | 2031-03-10 | 4.50% | USU5876JBN47 |
| Bayer AG | 5.40% | 2031-07-20 | 5.12% | USU07264AN10 |
| Volkswagen Group | 5.65% | 2032-03-25 | 5.65% | USU9273AEM37 |
| Deutsche Telekom AG | 5.06% | 2032-06-01 | 9.25% | US25156PAD50 |
| Bayer AG | 5.66% | 2033-07-20 | 5.38% | USU07264AR24 |
| Volkswagen Group | 5.75% | 2034-03-22 | 5.60% | USU9273AED38 |
| BMW | 5.58% | 2035-03-21 | 5.40% | USU09513KM06 |
| Bayer AG | 5.87% | 2036-07-20 | 5.62% | USU07264AP67 |
| Deutsche Telekom AG | 5.95% | 2042-03-06 | 4.88% | USN27915AB85 |
| Bayer AG | 6.58% | 2044-07-15 | 4.40% | US07274NBF96 |
| Deutsche Telekom AG | 6.05% | 2050-01-21 | 3.62% | USD2035MYV82 |
| Allianz SE | 5.68% | 2054-09-03 | 5.60% | USX10001AD18 |
| Bayer AG | 6.72% | 2064-07-15 | 4.70% | US07274NBH52 |