Germany Senior Unsecured Non-Callable Corporate Bond Yields (USD)
Fitted spot curve as of 2026-09-11
https://bondscovery.com/yield-curve/usd-corporate-senior-unsecured-germany-non-callable
Germany Senior Unsecured Non-Callable Corporate Bond Yields (USD) as of 2026-09-11: 10Y at 6.08%, fitted curve 1M–40Y (4.51%–6.82%), 104 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 4.51% | — |
| 3M | 4.64% | 4.70% |
| 6M | 4.76% | 5.00% |
| 9M | 4.84% | 5.11% |
| 12M | 4.90% | 5.11% |
| 18M | 5.00% | 5.28% |
| 2Y | 5.09% | 5.44% |
| 3Y | 5.23% | 5.62% |
| 4Y | 5.36% | 5.86% |
| 5Y | 5.49% | 6.22% |
| 6Y | 5.63% | 6.55% |
| 7Y | 5.76% | 6.82% |
| 8Y | 5.88% | 7.07% |
| 9Y | 5.99% | 7.29% |
| 10Y | 6.08% | 7.48% |
| 20Y | 6.64% | 7.95% |
| 30Y | 6.79% | 7.85% |
| 40Y | 6.82% | 7.45% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 5.09% and the 10-year 6.08%, a 10Y−2Y spread of +99 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 | 5.09% | 4.61% | 4.61% | 4.64% | 4.48% | 4.42% | 4.22% |
| 10Y | 6.08% | 5.75% | 5.38% | 5.57% | 5.41% | 5.52% | 5.28% |
| 10Y − 2Y | +99 bp | +114 bp | +77 bp | +93 bp | +94 bp | +110 bp | +106 bp |
Yields by rating group
The same curve split by credit quality: 112 rated bonds across 2 rating bands, all maturities pooled. Median yield by band: AAA to AA- 5.05%, A+ to BBB- 5.49%.
Bonds in this curve
A selection of 30 of the 112 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| DZ Bank AG | 4.42% | 2026-10-02 | 3.35% | XS2892332458 |
| Helaba | 4.87% | 2026-11-04 | 3.20% | DE000HEL0AV8 |
| DZ Bank AG | 4.15% | 2026-11-05 | 3.00% | XS2910559231 |
| Henkel AG & Co. KGaA | 5.82% | 2026-11-17 | 1.75% | XS2407954002 |
| DZ Bank AG | 4.75% | 2026-12-18 | 4.40% | XS2731508540 |
| DZ Bank AG | 4.88% | 2027-02-02 | 4.00% | XS2743088184 |
| DZ Bank AG | 4.81% | 2027-03-18 | 1.84% | XS2454338596 |
| DZ Bank AG | 4.83% | 2027-06-30 | 1.00% | XS2301120379 |
| DZ Bank AG | 4.84% | 2027-08-04 | 3.50% | XS3106088407 |
| DZ Bank AG | 4.88% | 2027-09-02 | 3.35% | XS3138730133 |
| Helaba | 4.83% | 2027-12-17 | 1.00% | DE000HLB2YQ7 |
| DZ Bank AG | 4.90% | 2027-12-20 | 1.00% | XS2355165866 |
| Landwirtschaftliche Rentenbank | 4.66% | 2028-06-14 | 3.88% | US515110CD49 |
| Helaba | 5.08% | 2028-07-24 | 4.00% | DE000HEL0XY4 |
| Volkswagen Group | 5.44% | 2029-03-22 | 5.25% | USU9273AEC54 |
| DZ Bank AG | 5.22% | 2029-04-03 | 3.05% | XS3305174172 |
| Helaba | 5.32% | 2030-05-02 | 4.00% | DE000HEL0GS1 |
| DZ Bank AG | 5.25% | 2030-07-30 | 4.20% | XS3137826890 |
| Landwirtschaftliche Rentenbank | 4.84% | 2031-06-03 | 4.12% | US515110CK81 |
| Bayer AG | 5.68% | 2031-07-20 | 5.12% | USU07264AN10 |
| Deutsche Telekom AG | 5.43% | 2032-06-01 | 9.25% | US25156PAD50 |
| Helaba | 5.53% | 2032-10-06 | 4.00% | DE000HEL0MM2 |
| Helaba | 5.59% | 2033-12-01 | 4.00% | DE000HEL0PY0 |
| Volkswagen Group | 6.09% | 2034-03-22 | 5.60% | USU9273AED38 |
| Dekabank Deutsche Girozentrale | 5.47% | 2036-01-25 | 1.86% | DE000DK0ZMP2 |
| Bayer AG | 6.07% | 2036-07-20 | 5.62% | USU07264AP67 |
| Enbw International Finance BV | 6.13% | 2038-04-30 | 6.65% | USN3033QAU69 |
| Bayer AG | 6.66% | 2044-07-15 | 4.40% | USU07265AX66 |
| Bayer AG | 6.74% | 2056-07-20 | 6.38% | USU07264AQ41 |
| Bayer AG | 6.82% | 2064-07-15 | 4.70% | USU07265AZ15 |