Philippine Government Bond Yields (USD)
Fitted spot curve as of 2026-10-26
https://bondscovery.com/yield-curve/usd-government-philippines-philippines
Philippine Government Bond Yields (USD) as of 2026-10-26: 10Y at 6.17%, fitted curve 6M–25Y (4.60%–6.55%), 33 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 6M | 4.60% | — |
| 12M | 4.75% | 4.96% |
| 18M | 4.90% | 5.27% |
| 2Y | 5.04% | 5.55% |
| 3Y | 5.27% | 5.86% |
| 4Y | 5.44% | 6.12% |
| 5Y | 5.55% | 6.16% |
| 6Y | 5.65% | 6.33% |
| 7Y | 5.82% | 7.19% |
| 8Y | 5.98% | 7.61% |
| 9Y | 6.09% | 7.42% |
| 10Y | 6.17% | 7.35% |
| 15Y | 6.42% | 7.39% |
| 20Y | 6.52% | 7.23% |
| 25Y | 6.55% | 7.01% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 5.04% and the 10-year 6.17%, a 10Y−2Y spread of +113 bp — positively sloped — as of 2026-10-26. 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 | Latest2026-10-26 | 1m ago2026-09-25 | 2m ago2026-08-27 | 3m ago2026-07-28 | 4m ago2026-06-29 | 5m ago2026-05-29 | 6m ago2026-04-29 |
|---|---|---|---|---|---|---|---|
| 2Y | 5.04% | 5.03% | 4.64% | 4.68% | 4.46% | 4.47% | 4.27% |
| 10Y | 6.17% | 6.03% | 5.57% | 5.63% | 5.29% | 5.49% | 5.27% |
| 10Y − 2Y | +113 bp | +100 bp | +93 bp | +95 bp | +83 bp | +101 bp | +100 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 | 4.73% | 2027-03-29 | 3.23% | US718286CQ83 |
| Philippines | 4.71% | 2027-10-13 | 5.17% | US718286CV78 |
| Philippines | 4.71% | 2028-02-01 | 3.00% | US718286CC97 |
| Philippines | 4.92% | 2028-07-17 | 4.62% | US718286CY18 |
| Philippines | 5.11% | 2029-01-14 | 3.75% | US718286CG02 |
| Philippines | 5.52% | 2030-02-02 | 9.50% | US718286AY36 |
| Philippines | 5.61% | 2030-03-05 | 4.38% | US718286DE45 |
| Philippines | 5.72% | 2030-05-05 | 2.46% | US718286CJ41 |
| Philippines | 5.54% | 2031-01-14 | 7.75% | US718286BB24 |
| Philippines | 5.58% | 2031-06-10 | 1.65% | US718286CK14 |
| Philippines | 5.55% | 2031-07-27 | 4.25% | US718286DJ32 |
| Philippines | 5.67% | 2032-01-06 | 1.95% | US718286CN52 |
| Philippines | 5.57% | 2032-01-15 | 6.38% | US718286BD89 |
| Philippines | 5.65% | 2032-09-29 | 3.56% | US718286CR66 |
| Philippines | 5.76% | 2033-04-13 | 5.61% | US718286CT23 |
| Philippines | 5.75% | 2033-07-17 | 5.00% | US718286CW51 |
| Philippines | 5.94% | 2034-10-23 | 6.38% | US718286BG11 |
| Philippines | 6.06% | 2035-02-04 | 5.50% | US718286DG92 |
| Philippines | 6.05% | 2035-03-10 | 4.75% | US718286DC88 |
| Philippines | 6.07% | 2036-01-27 | 5.00% | US718286DK05 |
| Philippines | 6.15% | 2037-01-13 | 5.00% | US718286BW60 |
| Philippines | 6.36% | 2040-01-20 | 3.95% | US718286BZ91 |
| Philippines | 6.40% | 2041-03-01 | 3.70% | US718286CA32 |
| Philippines | 6.45% | 2042-02-02 | 3.70% | US718286CB15 |
| Philippines | 6.57% | 2045-05-05 | 2.95% | US718286CH84 |
| Philippines | 6.50% | 2045-12-08 | 2.65% | US718286CL96 |
| Philippines | 6.51% | 2046-07-06 | 3.20% | US718286CP01 |
| Philippines | 6.57% | 2049-09-05 | 5.17% | US718286DD61 |
| Philippines | 6.56% | 2050-02-04 | 5.90% | US718286DH75 |
| Philippines | 6.54% | 2051-01-27 | 5.75% | US718286DL87 |