High synergy of coercivity and thermal stability in resource-saving Nd-Ce-Y-Fe-B melt-spun ribbons

•Optimal Ce-Y ratio induces superb room-temperature coercivity and thermal stability.•Above combinations are the highest reported values upon 50 wt% Ce-Y substitution for Nd.•It is attributed to continous RE-rich intergranular phase, refined 2:14:1 phase and strengthened exchange coupling.•Excessive Y substitution leads to dramatic grain growth, deteriorating the magnetic properties.