View a 10-year yield estimated from the average yields of a variety of Treasury securities with different maturities derived from the Treasury yield curve.

United States - Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity was 4.42% in May of 2025, according to the United States Federal Reserve. Historically, United States - Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity reached a record high of 15.32 in September of 1981 and a record low of 0.62 in July of 2020. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity - last updated from the United States Federal Reserve on July of 2025.

Graph and download economic data for Market Yield on U.S. Treasury Securities at 3-Year Constant Maturity, Quoted on an Investment Basis (DGS3) from 1962-01-02 to 2025-07-16 about 3-year, maturity, Treasury, interest rate, interest, rate, and USA.

Graph and download economic data for Market Yield on U.S. Treasury Securities at 20-Year Constant Maturity, Quoted on an Investment Basis, Inflation-Indexed (DFII20) from 2004-07-27 to 2025-07-15 about 20-year, TIPS, maturity, securities, Treasury, interest rate, interest, real, rate, and USA.

Graph and download economic data for Market Yield on U.S. Treasury Securities at 2-Year Constant Maturity, Quoted on an Investment Basis (WGS2YR) from 1976-06-04 to 2025-07-11 about 2-year, maturity, Treasury, interest rate, interest, rate, and USA.

United States - Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity, Inflation-Indexed was 1.99% in July of 2025, according to the United States Federal Reserve. Historically, United States - Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity, Inflation-Indexed reached a record high of 3.07 in October of 2008 and a record low of -1.14 in July of 2021. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity, Inflation-Indexed - last updated from the United States Federal Reserve on July of 2025.

Graph and download economic data for Market Yield on U.S. Treasury Securities at 7-Year Constant Maturity, Quoted on an Investment Basis, Inflation-Indexed (DFII7) from 2003-01-02 to 2025-07-16 about 7-year, TIPS, maturity, securities, Treasury, interest rate, interest, real, rate, and USA.

These rates are commonly referred to as Constant Maturity Treasury rates, or CMTs. Yields are interpolated by the Treasury from the daily yield curve. This curve, which relates the yield on a security to its time to maturity is based on the closing market bid yields on actively traded Treasury securities in the over-the-counter market. These market yields are calculated from composites of quotations obtained by the Federal Reserve Bank of New York. The yield values are read from the yield curve at fixed maturities, currently 1, 3 and 6 months and 1, 2, 3, 5, 7, 10, 20, and 30 years. This method provides a yield for a 10 year maturity, for example, even if no outstanding security has exactly 10 years remaining to maturity.

Graph and download economic data for 10-Year Treasury Constant Maturity Minus Federal Funds Rate (T10YFF) from 1962-01-02 to 2025-07-15 about yield curve, spread, 10-year, maturity, Treasury, federal, interest rate, interest, rate, and USA.

United States - 10-Year Treasury Constant Maturity Minus Federal Funds Rate was 0.09% in May of 2025, according to the United States Federal Reserve. Historically, United States - 10-Year Treasury Constant Maturity Minus Federal Funds Rate reached a record high of 3.85 in December of 1992 and a record low of -6.51 in January of 1981. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - 10-Year Treasury Constant Maturity Minus Federal Funds Rate - last updated from the United States Federal Reserve on July of 2025.

Interactive chart showing the daily 5 year treasury yield back to 1962. The values shown are daily data published by the Federal Reserve Board based on the average yield of a range of Treasury securities, all adjusted to the equivalent of a five-year maturity.

In December 2024, the yield on a 10-year U.S. Treasury note was **** percent, forecasted to decrease to reach **** percent by August 2025. Treasury securities are debt instruments used by the government to finance the national debt. Who owns treasury notes? Because the U.S. treasury notes are generally assumed to be a risk-free investment, they are often used by large financial institutions as collateral. Because of this, billions of dollars in treasury securities are traded daily. Other countries also hold U.S. treasury securities, as do U.S. households. Investors and institutions accept the relatively low interest rate because the U.S. Treasury guarantees the investment. Looking into the future Because these notes are so commonly traded, their interest rate also serves as a signal about the market’s expectations of future growth. When markets expect the economy to grow, forecasts for treasury notes will reflect that in a higher interest rate. In fact, one harbinger of recession is an inverted yield curve, when the return on 3-month treasury bills is higher than the ten-year rate. While this does not always lead to a recession, it certainly signals pessimism from financial markets.

United States - 10-Year Treasury Constant Maturity Minus 2-Year Treasury Constant Maturity was 0.55% in July of 2025, according to the United States Federal Reserve. Historically, United States - 10-Year Treasury Constant Maturity Minus 2-Year Treasury Constant Maturity reached a record high of 2.91 in February of 2011 and a record low of -2.41 in March of 1980. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - 10-Year Treasury Constant Maturity Minus 2-Year Treasury Constant Maturity - last updated from the United States Federal Reserve on July of 2025.

United States TIPS Yield: Constant Maturity: Inflation Indexed: MA: 10 Years data was reported at 1.110 % pa in Nov 2018. This records an increase from the previous number of 1.040 % pa for Oct 2018. United States TIPS Yield: Constant Maturity: Inflation Indexed: MA: 10 Years data is updated monthly, averaging 1.040 % pa from Jan 2003 (Median) to Nov 2018, with 191 observations. The data reached an all-time high of 2.890 % pa in Nov 2008 and a record low of -0.770 % pa in Nov 2012. United States TIPS Yield: Constant Maturity: Inflation Indexed: MA: 10 Years data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.M008: Treasury Securities Yields.

The 10-year treasury constant maturity rate in the U.S. is forecast to increase by *** percentage points by 2027, while the 30-year fixed mortgage rate is expected to fall by *** percentage points. From *** percent in 2024, the average 30-year mortgage rate is projected to reach *** percent in 2027.

The average market yield on the United States Treasury's 10-year bond was **** percent during the second quarter of 2024. This rate was adjusted to reflect a constant maturity and also indexed to inflation, giving an idea of real returns for longer-term investments. The recent expected return was highest at the end of the end of the last quarter of 2024, and lowest in the second half of 2021, when it was negative.

Treasury Bills Yield: Constant Maturity: Nominal: MA: 1 Month data was reported at 2.240 % pa in Nov 2018. This records an increase from the previous number of 2.174 % pa for Oct 2018. Treasury Bills Yield: Constant Maturity: Nominal: MA: 1 Month data is updated monthly, averaging 0.841 % pa from Jul 2001 (Median) to Nov 2018, with 209 observations. The data reached an all-time high of 5.210 % pa in Mar 2007 and a record low of 0.003 % pa in Dec 2011. Treasury Bills Yield: Constant Maturity: Nominal: MA: 1 Month data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.M008: Treasury Securities Yields.

Series is calculated as the spread between Moody's Seasoned Baa Corporate Bond© (https://fred.stlouisfed.org/series/DBAA) and 10-Year Treasury Constant Maturity (BC_10YEAR).

©2017, Moody's Corporation, Moody's Investors Service, Inc., Moody's Analytics, Inc. and/or their licensors and affiliates (collectively, "Moody's"). All rights reserved. Moody's ratings and other information ("Moody's Information") are proprietary to Moody's and/or its licensors and are protected by copyright and other intellectual property laws. Moody's Information is licensed to Client by Moody's. MOODY'S INFORMATION MAY NOT BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. Starting with the update on June 21, 2019, the Treasury bond data used in calculating interest rate spreads is obtained directly from the U.S. Treasury Department (https://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield).

Graph and download economic data for Market Yield on U.S. Treasury Securities at 5-Year Constant Maturity, Quoted on an Investment Basis, Inflation-Indexed (DFII5) from 2003-01-02 to 2025-07-16 about TIPS, maturity, securities, Treasury, interest rate, interest, real, 5-year, rate, and USA.

These rates are commonly referred to as "Constant Maturity Treasury" rates, or CMTs. Yields are interpolated by the Treasury from the daily yield curve. This curve, which relates the yield on a security to its time to maturity is based on the closing market bid yields on actively traded Treasury securities in the over-the-counter market. These market yields are calculated from composites of quotations obtained by the Federal Reserve Bank of New York. The yield values are read from the yield curve at fixed maturities, currently 1, 3 and 6 months and 1, 2, 3, 5, 7, 10, 20, and 30 years. This method provides a yield for a 10 year maturity, for example, even if no outstanding security has exactly 10 years remaining to maturity. Dataset is updated daily from Monday to Friday