Philippine Government Bond Yields (USD)
Fitted spot curve as of 2026-09-11
https://bondscovery.com/yield-curve/usd-government-philippines-philippines
Philippine Government Bond Yields (USD) as of 2026-09-11: 10Y at 5.88%, fitted curve 6M–25Y (4.80%–6.39%), 33 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 6M | 4.80% | — |
| 12M | 4.85% | 4.97% |
| 18M | 4.91% | 5.10% |
| 2Y | 4.97% | 5.23% |
| 3Y | 5.10% | 5.43% |
| 4Y | 5.22% | 5.71% |
| 5Y | 5.34% | 5.99% |
| 6Y | 5.46% | 6.27% |
| 7Y | 5.58% | 6.53% |
| 8Y | 5.68% | 6.76% |
| 9Y | 5.78% | 6.97% |
| 10Y | 5.88% | 7.14% |
| 15Y | 6.20% | 7.43% |
| 20Y | 6.36% | 7.43% |
| 25Y | 6.39% | 6.89% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 4.97% and the 10-year 5.88%, a 10Y−2Y spread of +90 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 | 4.97% | 4.64% | 4.53% | 4.48% | 4.30% | 4.50% | 4.17% |
| 10Y | 5.88% | 5.61% | 5.46% | 5.50% | 5.37% | 5.31% | 5.22% |
| 10Y − 2Y | +90 bp | +97 bp | +93 bp | +102 bp | +107 bp | +80 bp | +104 bp |
Bonds in this curve
A selection of 30 of the 33 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Philippines | 4.95% | 2027-03-29 | 3.23% | US718286CQ83 |
| Philippines | 4.61% | 2027-10-13 | 5.17% | US718286CV78 |
| Philippines | 4.73% | 2028-02-01 | 3.00% | US718286CC97 |
| Philippines | 4.72% | 2028-07-17 | 4.62% | US718286CY18 |
| Philippines | 5.31% | 2029-01-14 | 3.75% | US718286CG02 |
| Philippines | 5.16% | 2030-02-02 | 9.50% | US718286AY36 |
| Philippines | 5.16% | 2030-03-05 | 4.38% | US718286DE45 |
| Philippines | 5.26% | 2030-05-05 | 2.46% | US718286CJ41 |
| Philippines | 5.29% | 2031-01-14 | 7.75% | US718286BB24 |
| Philippines | 5.38% | 2031-06-10 | 1.65% | US718286CK14 |
| Philippines | 5.25% | 2031-07-27 | 4.25% | US718286DJ32 |
| Philippines | 5.33% | 2032-01-06 | 1.95% | US718286CN52 |
| Philippines | 5.31% | 2032-01-15 | 6.38% | US718286BD89 |
| Philippines | 5.40% | 2032-09-29 | 3.56% | US718286CR66 |
| Philippines | 5.51% | 2033-04-13 | 5.61% | US718286CT23 |
| Philippines | 5.51% | 2033-07-17 | 5.00% | US718286CW51 |
| Philippines | 5.70% | 2034-10-23 | 6.38% | US718286BG11 |
| Philippines | 5.74% | 2035-02-04 | 5.50% | US718286DG92 |
| Philippines | 5.75% | 2035-03-05 | 4.75% | US718286DC88 |
| Philippines | 5.86% | 2036-01-27 | 5.00% | US718286DK05 |
| Philippines | 5.88% | 2037-01-13 | 5.00% | US718286BW60 |
| Philippines | 6.10% | 2040-01-20 | 3.95% | US718286BZ91 |
| Philippines | 6.18% | 2041-03-01 | 3.70% | US718286CA32 |
| Philippines | 6.22% | 2042-02-02 | 3.70% | US718286CB15 |
| Philippines | 6.38% | 2045-05-05 | 2.95% | US718286CH84 |
| Philippines | 6.42% | 2045-12-10 | 2.65% | US718286CL96 |
| Philippines | 6.40% | 2046-07-06 | 3.20% | US718286CP01 |
| Philippines | 6.38% | 2049-09-05 | 5.17% | US718286DD61 |
| Philippines | 6.40% | 2050-02-04 | 5.90% | US718286DH75 |
| Philippines | 6.41% | 2051-01-27 | 5.75% | US718286DL87 |