United Kingdom Corporate Bond Yields (USD)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/usd-corporate-united-kingdom
United Kingdom Corporate Bond Yields (USD) as of 2026-07-27: 10Y at 5.56%, fitted curve 1M–40Y (4.21%–6.25%), 511 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 4.21% | — |
| 3M | 4.29% | 4.32% |
| 6M | 4.43% | 4.57% |
| 9M | 4.57% | 4.84% |
| 12M | 4.67% | 4.96% |
| 18M | 4.77% | 4.97% |
| 2Y | 4.83% | 5.00% |
| 3Y | 4.93% | 5.14% |
| 4Y | 5.03% | 5.34% |
| 5Y | 5.13% | 5.53% |
| 6Y | 5.23% | 5.70% |
| 7Y | 5.32% | 5.86% |
| 8Y | 5.40% | 6.01% |
| 9Y | 5.49% | 6.14% |
| 10Y | 5.56% | 6.26% |
| 15Y | 5.87% | 6.50% |
| 20Y | 6.05% | 6.58% |
| 25Y | 6.12% | 6.42% |
| 30Y | 6.19% | 6.53% |
| 40Y | 6.25% | 6.43% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 4.83% and the 10-year 5.56%, a 10Y−2Y spread of +74 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 | 4.83% | 4.65% | 4.63% | 4.43% | 4.49% | 4.07% | 4.16% |
| 10Y | 5.56% | 5.25% | 5.40% | 5.42% | 5.50% | 4.99% | 5.13% |
| 10Y − 2Y | +74 bp | +60 bp | +78 bp | +98 bp | +101 bp | +92 bp | +97 bp |
Yields by rating group
The same curve split by credit quality: 703 rated bonds across 3 rating bands, all maturities pooled. Median yield by band: AAA to AA- 5.55%, A+ to BBB- 5.25%, Speculative 8.40%.
Bonds in this curve
A selection of 30 of the 703 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 |
| Natwest Group PLC | 6.40% | 2026-09-29 | 1.60% | USG6382GWT59 |
| Nationwide Building Society | 6.14% | 2026-10-13 | 1.50% | US63859VBH33 |
| BP PLC | 4.17% | 2027-01-16 | 3.02% | US10373QAV23 |
| Standard Chartered PLC | 4.90% | 2027-02-19 | 4.30% | XS1480699641 |
| 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 |
| Imperial Brands Finance PLC | 5.00% | 2027-07-27 | 6.12% | USG471ABWD89 |
| CNH Industrial NV | 4.92% | 2027-11-15 | 3.85% | US12594KAB89 |
| BP PLC | 4.61% | 2027-11-17 | 5.02% | US10373QBY52 |
| Barclays Bank PLC | 5.05% | 2028-05-09 | 4.84% | US06738EAW57 |
| Glaxosmithkline Capital | 4.41% | 2028-05-15 | 3.88% | US377372AN70 |
| 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 |
| Vmed O2 UK Financing I PLC | 9.91% | 2031-01-31 | 4.25% | USG9444PAA06 |
| Merlin Entertainments PLC | 13.99% | 2031-02-15 | 7.38% | USU59020AA29 |
| Barclays Bank PLC | 4.94% | 2032-03-10 | 2.67% | US06738EBR53 |
| BP PLC | 5.17% | 2033-02-13 | 4.81% | US10373QBU31 |
| British American Tobacco plc | 5.34% | 2034-02-20 | 6.00% | US05526DBZ78 |
| 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 |