United Kingdom Senior Unsecured Callable Corporate Bond Yields (USD)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/usd-corporate-senior-unsecured-united-kingdom-callable
United Kingdom Senior Unsecured Callable Corporate Bond Yields (USD) as of 2026-07-27: 10Y at 5.64%, fitted curve 1M–40Y (4.62%–6.34%), 281 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 4.62% | — |
| 3M | 4.64% | 4.65% |
| 6M | 4.67% | 4.70% |
| 9M | 4.70% | 4.76% |
| 12M | 4.73% | 4.82% |
| 18M | 4.79% | 4.90% |
| 2Y | 4.85% | 5.02% |
| 3Y | 4.96% | 5.19% |
| 4Y | 5.07% | 5.40% |
| 5Y | 5.18% | 5.61% |
| 6Y | 5.28% | 5.80% |
| 7Y | 5.38% | 5.96% |
| 8Y | 5.47% | 6.12% |
| 9Y | 5.56% | 6.25% |
| 10Y | 5.64% | 6.36% |
| 15Y | 5.95% | 6.57% |
| 20Y | 6.13% | 6.70% |
| 25Y | 6.24% | 6.66% |
| 30Y | 6.29% | 6.57% |
| 40Y | 6.34% | 6.47% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 4.85% and the 10-year 5.64%, a 10Y−2Y spread of +79 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 | 4.85% | 4.67% | 4.60% | 4.43% | 4.55% | 4.03% | 4.17% |
| 10Y | 5.64% | 5.37% | 5.49% | 5.49% | 5.59% | 4.99% | 5.22% |
| 10Y − 2Y | +79 bp | +70 bp | +89 bp | +106 bp | +104 bp | +95 bp | +105 bp |
Yields by rating group
The same curve split by credit quality: 407 rated bonds across 3 rating bands, all maturities pooled. Median yield by band: AAA to AA- 5.69%, A+ to BBB- 5.25%, Speculative 6.93%.
Bonds in this curve
A selection of 30 of the 407 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Shell PLC | 4.23% | 2026-09-12 | 2.50% | US822582BX94 |
| Amcor PLC | 7.28% | 2026-09-15 | 3.10% | US081437AJ44 |
| Nationwide Building Society | 5.38% | 2026-11-10 | 5.26% | US638602BS06 |
| Hsbc Holdings PLC | 4.48% | 2026-11-23 | 4.38% | US404280BH13 |
| Barclays Bank PLC | 4.35% | 2026-12-22 | 2.00% | US06747PXX22 |
| Astrazeneca PLC | 4.62% | 2027-02-26 | 4.80% | US04636NAK90 |
| Smith & Nephew PLC | 5.30% | 2027-03-20 | 5.15% | US83192PAC23 |
| BAE Systems PLC | 4.78% | 2027-03-26 | 5.00% | USG07540AB68 |
| Reckitt Benckiser Treasury Services PLC | 4.94% | 2027-06-26 | 3.00% | USG7420TAE67 |
| Lloyds Banking Group PLC | 6.28% | 2027-08-07 | 5.99% | US539439AY57 |
| CNH Industrial NV | 4.92% | 2027-11-15 | 3.85% | US12594KAB89 |
| Lloyds Banking Group PLC | 5.44% | 2028-01-05 | 5.46% | US53944YAZ60 |
| Astrazeneca PLC | 4.60% | 2028-05-28 | 1.75% | US04636NAE31 |
| National Grid PLC | 4.92% | 2028-06-12 | 5.60% | US636274AD47 |
| British American Tobacco plc | 4.86% | 2029-02-02 | 5.93% | US05530QAQ38 |
| Astrazeneca PLC | 4.65% | 2029-02-26 | 4.85% | US04636NAL73 |
| Standard Chartered PLC | 5.67% | 2030-02-08 | 7.02% | USG84228FZ63 |
| Vodafone Group PLC | 4.98% | 2030-02-15 | 7.88% | US92857TAH05 |
| Astrazeneca PLC | 4.84% | 2031-02-26 | 4.90% | US04636NAM56 |
| Astrazeneca PLC | 4.90% | 2031-03-02 | 4.00% | US04636NAQ60 |
| Barclays Bank PLC | 4.94% | 2032-03-10 | 2.67% | US06738EBR53 |
| Astrazeneca PLC | 5.00% | 2033-03-03 | 4.88% | US04636NAH61 |
| Astrazeneca PLC | 5.14% | 2034-02-26 | 5.00% | US04636NAN30 |
| Natwest Group PLC | 5.47% | 2035-03-01 | 5.78% | US639057AN83 |
| Astrazeneca PLC | 5.32% | 2036-03-02 | 4.60% | US04636NAS27 |
| Shell PLC | 5.62% | 2040-03-25 | 5.50% | US822582AN22 |
| Hsbc Holdings PLC | 5.95% | 2044-03-14 | 5.25% | US404280AQ21 |
| Vodafone Group PLC | 6.41% | 2049-06-19 | 4.88% | US92857WBS89 |
| BAE Systems PLC | 5.89% | 2054-03-26 | 5.50% | USG07540AF72 |
| Vodafone Group PLC | 6.56% | 2063-02-10 | 5.75% | US92857WBZ23 |