Australian BBB corporate bond spread (5 years)
Extra yield on BBB-rated Australian company bonds over government bonds.
- Latest
- 1.11 pp
- Previous
- 1.09 pp
- Change
- +0.03 pp
- Frequency
- Monthly
Calculated by Take Profits
Spread = BBB-rated non-financial corporate bond yield (5-year target tenor) − 5-year government bond yield, same month (percentage points). The inputs are the official series listed under Sources; the result is not published by the source in this form.
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Australian BBB corporate bond spread (5 years)
Extra yield on BBB-rated Australian company bonds over government bonds.
- BBB spread
- 1.11 pp
Data table
| Period | BBB spread | Source value (FNFYBBB5M − FCMYGBAG5) |
|---|---|---|
| Sep 2026 | 1.11 pp | 6.07 − 4.958 |
| Aug 2026 | 1.09 pp | 5.71 − 4.624 |
| Jul 2026 | 1.03 pp | 5.58 − 4.552 |
| Jun 2026 | 0.94 pp | 5.43 − 4.493 |
| May 2026 | 0.94 pp | 5.61 − 4.667 |
| Apr 2026 | 1.21 pp | 5.89 − 4.683 |
| Mar 2026 | 1.30 pp | 5.92 − 4.621 |
| Feb 2026 | 0.99 pp | 5.36 − 4.373 |
| Jan 2026 | 1.09 pp | 5.39 − 4.301 |
| Dec 2025 | 1.09 pp | 5.34 − 4.254 |
| Nov 2025 | 1.26 pp | 5.16 − 3.904 |
| Oct 2025 | 1.23 pp | 4.88 − 3.646 |
About this indicator
- What it measures
- The gap between the RBA's estimate of 5-year BBB-rated non-financial corporate bond yields and the 5-year Australian Government bond yield.
- How it is calculated
- Calculated by us from two monthly RBA series (tables F3 and F2.1): BBB yield − government yield.
- How to read it
- Wider spreads mean investors want more compensation for company credit risk.
- Caveats
- The RBA's corporate yield is estimated from a small sample of bonds at a target tenor, so the maturities do not match exactly. The RBA no longer publishes this spread itself, and the monthly 5-year government yield starts in 2013.
- Frequency
- Monthly
- Typical release
- Monthly in RBA tables F3 and F2.1.
Sources
- Non-financial corporate BBB-rated bonds - Yield - 5 year target tenor View at the source (opens in a new tab)
- Australian Government 5 year bond (monthly) View at the source (opens in a new tab)
Recent observations
Newest first. For a calculated figure, the source value it comes from is shown beside it.
| Period | BBB spread | Source value (FNFYBBB5M − FCMYGBAG5) | First recorded here |
|---|---|---|---|
| Sep 2026 | 1.11 pp | 6.07 − 4.958 | 20 Oct 2026 |
| Aug 2026 | 1.09 pp | 5.71 − 4.624 | 20 Oct 2026 |
| Jul 2026 | 1.03 pp | 5.58 − 4.552 | 20 Oct 2026 |
| Jun 2026 | 0.94 pp | 5.43 − 4.493 | 20 Oct 2026 |
| May 2026 | 0.94 pp | 5.61 − 4.667 | 20 Oct 2026 |
| Apr 2026 | 1.21 pp | 5.89 − 4.683 | 20 Oct 2026 |
| Mar 2026 | 1.30 pp | 5.92 − 4.621 | 20 Oct 2026 |
| Feb 2026 | 0.99 pp | 5.36 − 4.373 | 20 Oct 2026 |
| Jan 2026 | 1.09 pp | 5.39 − 4.301 | 20 Oct 2026 |
| Dec 2025 | 1.09 pp | 5.34 − 4.254 | 20 Oct 2026 |
| Nov 2025 | 1.26 pp | 5.16 − 3.904 | 20 Oct 2026 |
| Oct 2025 | 1.23 pp | 4.88 − 3.646 | 20 Oct 2026 |
| Sep 2025 | 1.17 pp | 4.82 − 3.654 | 20 Oct 2026 |
| Aug 2025 | 1.11 pp | 4.7 − 3.591 | 20 Oct 2026 |
| Jul 2025 | 1.11 pp | 4.71 − 3.604 | 20 Oct 2026 |
| Jun 2025 | 1.18 pp | 4.7 − 3.523 | 20 Oct 2026 |
| May 2025 | 1.22 pp | 4.89 − 3.668 | 20 Oct 2026 |
| Apr 2025 | 1.28 pp | 4.88 − 3.6 | 20 Oct 2026 |
| Mar 2025 | 1.15 pp | 5.05 − 3.905 | 20 Oct 2026 |
| Feb 2025 | 1.04 pp | 5 − 3.963 | 20 Oct 2026 |
| Jan 2025 | 1.08 pp | 5.12 − 4.038 | 20 Oct 2026 |
| Dec 2024 | 1.22 pp | 5.15 − 3.934 | 20 Oct 2026 |
| Nov 2024 | 1.14 pp | 5.31 − 4.168 | 20 Oct 2026 |
| Oct 2024 | 1.55 pp | 5.44 − 3.892 | 20 Oct 2026 |
Revisions
We record a revision when a value we already hold changes at the source. Tracking began on 20 Oct 2026, so revisions made before then are not shown, and figures are in the source's own units.
No revisions detected
No stored value has changed since tracking began.
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Australia · Financial stress