Treasury Yields (Constant Maturity)
Constant-maturity Treasury yields are the interest rates the US government pays to borrow across maturities, interpolated daily by the Treasury from actively traded issues. The 10-year is the global benchmark "risk-free" rate — the discount rate behind mortgage rates, corporate borrowing, and equity valuations.
10-Year
- 3-Month
- 4.12%
- 2-Year
- 4.67%
- 10-Year
- 4.94%
- 30-Year
- 5.29%
Next release: Sep 21, 2026
Latest reading
As of September 17, 2026, Treasury Yields (10-Year) stands at 4.94% — down from 5.01% the prior reading, 10.90 pp below the September 30, 1981 record of 15.84%. The short end (3-month, 2-year) tracks Fed policy expectations; the long end (10-, 30-year) tracks growth and inflation expectations plus term premium. Rising long yields tighten financial conditions and pressure long-duration assets (tech, growth stocks, housing). The 10Y−2Y and 10Y−3M spreads — the recession signal — get their own treatment on the Yield Curve page; here the focus is the level of money itself. Series history runs from 1962 to present.
Sources, methodology & freshnessLast updated 2026-09-18 · Open ↓Close ↑
Full history
10-Year yield
30-Year yield
The long bond — the most duration-sensitive Treasury, driven by growth and inflation expectations plus term premium. The 2002-2006 gap is real: the Treasury suspended 30-year issuance.
2-Year yield
The policy tenor — the 2-year tracks where the market expects the fed funds rate to average over the next two years, making it the fastest-moving read on Fed expectations.
3-Month yield
The bill rate — pinned to the current fed funds setting; the risk-free rate money-market funds actually earn.
Methodology & data
Treasury Yields is sourced from Fed via the Federal Reserve's FRED service (Federal Reserve H.15 via FRED (DGS3MO, DGS2, DGS10, DGS30), daily). We pull the complete history, chart it on a daily basis, overlay SPY for context, and generate a dated plain-English reading from the latest release — with no smoothing or adjustment beyond what the chart legend states.
Every reading is stamped with its release date, last updated 2026-09-18. Maintained and reviewed by Yuriy Matso; see our methodology for the standards every series on the site is held to.
Frequently asked questions
What is the Treasury Yields (Constant Maturity)?
Constant-maturity Treasury yields are the interest rates the US government pays to borrow across maturities, interpolated daily by the Treasury from actively traded issues. The 10-year is the global benchmark "risk-free" rate — the discount rate behind mortgage rates, corporate borrowing, and equity valuations.
How do you read Treasury Yields?
The short end (3-month, 2-year) tracks Fed policy expectations; the long end (10-, 30-year) tracks growth and inflation expectations plus term premium. Rising long yields tighten financial conditions and pressure long-duration assets (tech, growth stocks, housing). The 10Y−2Y and 10Y−3M spreads — the recession signal — get their own treatment on the Yield Curve page; here the focus is the level of money itself.
Where does the Treasury Yields data come from?
Federal Reserve H.15 via FRED (DGS3MO, DGS2, DGS10, DGS30), daily. We chart the full history and publish a dated, plain-English reading with every release; the raw series is downloadable as CSV at /data/indicators/treasury-yields.csv.
How often is Treasury Yields updated?
Treasury Yields is a daily series from Fed, refreshed here as soon as a new release posts to FRED.
10-Year
- 3-Month
- 4.12%
- 2-Year
- 4.67%
- 10-Year
- 4.94%
- 30-Year
- 5.29%
Next release: Sep 21, 2026