In June 2025, the yield on a 10-year U.S. Treasury note was **** percent, forecasted to decrease to reach **** percent by February 2026. 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.

The yield on US 30 Year Bond Yield eased to 4.87% on July 31, 2025, marking a 0.03 percentage point decrease from the previous session. Over the past month, the yield has edged up by 0.10 points and is 0.59 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. United States 30 Year Bond Yield - values, historical data, forecasts and news - updated on July of 2025.

The yield on US 10 Year Note Bond Yield rose to 4.38% on July 30, 2025, marking a 0.05 percentage point increase from the previous session. Over the past month, the yield has edged up by 0.14 points and is 0.34 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. US 10 Year Treasury Bond Note Yield - values, historical data, forecasts and news - updated on July of 2025.

The yield on US 20 Year Bond Yield eased to 4.86% on July 31, 2025, marking a 0.04 percentage point decrease from the previous session. Over the past month, the yield has edged up by 0.10 points and is 0.51 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. This dataset includes a chart with historical data for US 20Y.

As of July 22, 2025, the yield for a ten-year U.S. government bond was 4.38 percent, while the yield for a two-year bond was 3.88 percent. This represents an inverted yield curve, whereby bonds of longer maturities provide a lower yield, reflecting investors' expectations for a decline in long-term interest rates. Hence, making long-term debt holders open to more risk under the uncertainty around the condition of financial markets in the future. That markets are uncertain can be seen by considering both the short-term fluctuations, and the long-term downward trend, of the yields of U.S. government bonds from 2006 to 2021, before the treasury yield curve increased again significantly in the following years. What are government bonds? Government bonds, otherwise called ‘sovereign’ or ‘treasury’ bonds, are financial instruments used by governments to raise money for government spending. Investors give the government a certain amount of money (the ‘face value’), to be repaid at a specified time in the future (the ‘maturity date’). In addition, the government makes regular periodic interest payments (called ‘coupon payments’). Once initially issued, government bonds are tradable on financial markets, meaning their value can fluctuate over time (even though the underlying face value and coupon payments remain the same). Investors are attracted to government bonds as, provided the country in question has a stable economy and political system, they are a very safe investment. Accordingly, in periods of economic turmoil, investors may be willing to accept a negative overall return in order to have a safe haven for their money. For example, once the market value is compared to the total received from remaining interest payments and the face value, investors have been willing to accept a negative return on two-year German government bonds between 2014 and 2021. Conversely, if the underlying economy and political structures are weak, investors demand a higher return to compensate for the higher risk they take on. Consequently, the return on bonds in emerging markets like Brazil are consistently higher than that of the United States (and other developed economies). Inverted yield curves When investors are worried about the financial future, it can lead to what is called an ‘inverted yield curve’. An inverted yield curve is where investors pay more for short term bonds than long term, indicating they do not have confidence in long-term financial conditions. Historically, the yield curve has historically inverted before each of the last five U.S. recessions. The last U.S. yield curve inversion occurred at several brief points in 2019 – a trend which continued until the Federal Reserve cut interest rates several times over that year. However, the ultimate trigger for the next recession was the unpredicted, exogenous shock of the global coronavirus (COVID-19) pandemic, showing how such informal indicators may be grounded just as much in coincidence as causation.

The yield on US 2 Year Note Bond Yield eased to 3.90% on July 29, 2025, marking a 0.03 percentage point decrease from the previous session. Over the past month, the yield has edged up by 0.18 points, though it remains 0.47 points lower than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. US 2 Year Treasury Bond Note Yield - values, historical data, forecasts and news - updated on July of 2025.

Graph and download economic data for Interest Rates: Long-Term Government Bond Yields: 10-Year: Main (Including Benchmark) for United States (IRLTLT01USM156N) from Apr 1953 to May 2025 about long-term, 10-year, bonds, yield, government, interest rate, interest, rate, and USA.

China Bond Yield: Treasury Bond: 10 Year data was reported at 1.679 % pa in 16 May 2025. This records a decrease from the previous number of 1.680 % pa for 15 May 2025. China Bond Yield: Treasury Bond: 10 Year data is updated daily, averaging 3.254 % pa from Mar 2006 (Median) to 16 May 2025, with 4806 observations. The data reached an all-time high of 4.722 % pa in 20 Nov 2013 and a record low of 1.596 % pa in 06 Feb 2025. China Bond Yield: Treasury Bond: 10 Year data remains active status in CEIC and is reported by China Central Depository & Clearing Co., Ltd. The data is categorized under China Premium Database’s Money Market, Interest Rate, Yield and Exchange Rate – Table CN.MF: PBC & CCDC: Treasury Bond and Other Bond Yield: Daily.

The yield on Japan 10Y Bond Yield eased to 1.56% on July 31, 2025, marking a 0.01 percentage point decrease from the previous session. Over the past month, the yield has edged up by 0.16 points and is 0.52 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. Japan 10 Year Government Bond Yield - values, historical data, forecasts and news - updated on July of 2025.

Ten-Year TIPS Yields versus Real Yields is a part of the Inflation Expectations indicator of the Federal Reserve Bank of Cleveland.

The yield on India 10Y Bond Yield eased to 6.37% on July 31, 2025, marking a 0 percentage point decrease from the previous session. Over the past month, the yield has edged up by 0.01 points, though it remains 0.54 points lower than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. India 10-Year Government Bond Yield - values, historical data, forecasts and news - updated on July of 2025.

Key information about Ghana Long Term Interest Rate

• Ghana Long Term Interest Rate: Month Avg: Ghana: Government Bond Yield: 10 Years was reported at 29.85 % pa in Nov 2024, compared with 29.85 % pa in the previous month.
• Ghana Long Term Interest Rate data is updated monthly, available from Sep 2004 to Nov 2024.
• The data reached an all-time high of 29.85 % pa in Nov 2024 and a record low of 12.08 % pa in Feb 2008.
• Long Term Interest Rate is reported by reported by CEIC Data.

The International Monetary Fund provides monthly 10 Year Government Bond Yield.


Related information about Ghana Long Term Interest Rate

• In the latest reports, Ghana Short Term Interest Rate: Month Avg: Ghana: Treasury Bills Rate: 91 Days was reported at 25.80 % pa in Oct 2024.
• The cash rate (Policy Rate: Month End: Ghana) was set at 29.50 % pa in Jun 2023.
• Ghana Exchange Rate against USD averaged 14.78 (USD/GHS) in Dec 2024.

The yield on Canada 10Y Bond Yield eased to 3.47% on July 29, 2025, marking a 0.06 percentage point decrease from the previous session. Over the past month, the yield has edged up by 0.20 points and is 0.24 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. Canada 10-Year Government Bond Yield - values, historical data, forecasts and news - updated on July of 2025.

Key information about Malaysia Long Term Interest Rate

• Malaysia Government Securities Yield: 10 Years was reported at 3.79 % pa in Feb 2025, compared with 3.81 % pa in the previous month.
• Malaysia Long Term Interest Rate data is updated monthly, available from Feb 1992 to Feb 2025.
• The data reached an all-time high of 8.24 % pa in Jun 1992 and a record low of 2.55 % pa in Jul 2020.
• Long Term Interest Rate is reported by reported by Bank Negara Malaysia.

CEIC calculates monthly Long Term Interest Rate from daily 10 year Government Securities Yield. Bank Negara Malaysia provides 10 year Treasury Bond Yield. Long Term Interest Rate prior to July 2005 is sourced directly from Bank Negara Malaysia. The data are referred to as the market indicative yield to maturity. They are only indicative due to the lack of liquidity and lack of supply of these papers covering a wide spectrum of maturity.


Related information about Malaysia Long Term Interest Rate

• In the latest reports, Malaysia Short Term Interest Rate: Month End: KLIBOR: 3 Months was reported at 3.66 % pa in Feb 2025.
• The cash rate (Policy Rate: Month End: Overnight Policy Rate) was set at 3.00 % pa in Feb 2025.
• Malaysia Exchange Rate against USD averaged 4.63 (USD/MYR) in Jun 2023.

Graph and download economic data for 5-Year Breakeven Inflation Rate (T5YIE) from 2003-01-02 to 2025-07-29 about spread, interest rate, interest, 5-year, inflation, rate, and USA.

Key information about South Africa Long Term Interest Rate

• South Africa Government Bond Yield: Month End: 10 Years and Over was reported at 10.52 % pa in Feb 2025, compared with 10.38 % pa in the previous month.
• South Africa Long Term Interest Rate data is updated monthly, available from Aug 2006 to Feb 2025.
• The data reached an all-time high of 12.43 % pa in Sep 2023 and a record low of 6.73 % pa in Apr 2013.
• Long Term Interest Rate is reported by reported by South African Reserve Bank.

The Month End Government Bond Yield as for 10 years and above uses the yields on government bonds with outstanding maturity of 10 years and longer.


Related information about South Africa Long Term Interest Rate

• In the latest reports, South Africa Short Term Interest Rate: Month End: Treasury Bills Rate: 91 Days was reported at 7.41 % pa in Feb 2025.
• The cash rate (Policy Rate: Month End: Repo Rate) was set at 7.50 % pa in Feb 2025.
• South Africa Exchange Rate against USD averaged 18.74 (USD/ZAR) in Jun 2023.

The yield on Vietnam 10Y Bond Yield rose to 3.45% on July 31, 2025, marking a 0.01 percentage point increase from the previous session. Over the past month, the yield has edged up by 0.13 points and is 0.57 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. Vietnam 10-Year Government Bond Yield - values, historical data, forecasts and news - updated on July of 2025.

Indonesia Govt Bond Yield: IBPA: Tenor: 10 Yr data was reported at 7.433 % pa in 21 Aug 2019. This records a decrease from the previous number of 7.478 % pa for 20 Aug 2019. Indonesia Govt Bond Yield: IBPA: Tenor: 10 Yr data is updated daily, averaging 7.892 % pa from Oct 2008 (Median) to 21 Aug 2019, with 2651 observations. The data reached an all-time high of 21.209 % pa in 28 Oct 2008 and a record low of 5.023 % pa in 09 Feb 2012. Indonesia Govt Bond Yield: IBPA: Tenor: 10 Yr data remains active status in CEIC and is reported by Indonesia Bond Pricing Agency. The data is categorized under Daily Database’s Government & Other Securities – Table ID.MD001: Government Bond Yield: Indonesia Bond Price Agency.

The yield on Romania 10Y Bond Yield rose to 7.28% on July 31, 2025, marking a 0.03 percentage point increase from the previous session. Over the past month, the yield has fallen by 0.17 points, though it remains 0.63 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. Romania 10-Year Government Bond Yield - values, historical data, forecasts and news - updated on July of 2025.

Key information about Canada Long Term Interest Rate

• Canada Government Benchmark Bonds Yield: Month End: 10 Years was reported at 2.90 % pa in Feb 2025, compared with 3.07 % pa in the previous month.
• Canada Long Term Interest Rate data is updated monthly, available from Jan 1993 to Feb 2025.
• The data reached an all-time high of 9.28 % pa in Jun 1994 and a record low of 0.46 % pa in Jul 2020.
• Long Term Interest Rate is reported by reported by Bank of Canada.

Government Benchmark Bond are rates based on actual mid-market closing yields of selected Canada bond issues that mature approximately in the indicated term areas.


Related information about Canada Long Term Interest Rate

• In the latest reports, Canada Short Term Interest Rate: Month End: Treasury Bills Yield: 3 Months was reported at 2.82 % pa in Feb 2025.
• The cash rate (Policy Rate: Month End: Overnight Target Rate) was set at 3.00 % pa in Feb 2025.
• Canada Exchange Rate against USD averaged 1.33 (USD/CAD) in Jun 2023.