Graph and download economic data for Market Yield on U.S. Treasury Securities at 3-Month Constant Maturity, Quoted on an Investment Basis (DGS3MO) from 1981-09-01 to 2025-03-25 about bills, 3-month, maturity, Treasury, interest rate, interest, rate, and USA.

Graph and download economic data for Market Yield on U.S. Treasury Securities at 1-Month Constant Maturity, Quoted on an Investment Basis (DGS1MO) from 2001-07-31 to 2025-03-25 about 1-month, bills, maturity, Treasury, interest rate, interest, rate, and USA.

These rates are the daily secondary market quotation on the most recently auctioned Treasury Bills for each maturity tranche (4-week, 13-week, 26-week, and 52-week) that Treasury currently issues new Bills. Market quotations are obtained at approximately 3:30 PM each business day by the Federal Reserve Bank of New York. The Bank Discount rate is the rate at which a Bill is quoted in the secondary market and is based on the par value, amount of the discount and a 360-day year. The Coupon Equivalent, also called the Bond Equivalent, or the Investment Yield, is the bill's yield based on the purchase price, discount, and a 365- or 366-day year. The Coupon Equivalent can be used to compare the yield on a discount bill to the yield on a nominal coupon bond that pays semiannual interest.

Between 2013 and 2023, the Federal Reserve's earnings remittances to the United States Department of the Treasury experienced significant fluctuations. The remittances reached their highest point in 2015. However, in 2023, these remittances took an unprecedented turn, amounting to approximately negative 116 billion U.S. dollars - a dramatic decrease compared to previous years. The unusual situation of negative earnings remittances typically occurs during periods of rapidly rising interest rates. As the Fed increases interest rates to combat inflation, it pays higher interest on reserves held by commercial banks. Simultaneously, the value of its bond holdings may decrease, potentially leading to unrealized losses. When these costs surpass the Fed's income from its assets, it results in negative earnings, effectively creating a deferred asset rather than making a payment to the Treasury.

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 (WFII5) from 2003-01-03 to 2025-03-21 about TIPS, maturity, securities, Treasury, interest rate, interest, real, 5-year, rate, and USA.

FRBOP Forecast: YS: 10Yr TBonds over 3Mo Tbills: Median: Plus 2 Qtrs data was reported at 1.080 % in Jun 2018. This records a decrease from the previous number of 1.150 % for Mar 2018. FRBOP Forecast: YS: 10Yr TBonds over 3Mo Tbills: Median: Plus 2 Qtrs data is updated quarterly, averaging 2.035 % from Mar 1992 (Median) to Jun 2018, with 106 observations. The data reached an all-time high of 3.582 % in Mar 2010 and a record low of -0.175 % in Dec 2000. FRBOP Forecast: YS: 10Yr TBonds over 3Mo Tbills: Median: Plus 2 Qtrs data remains active status in CEIC and is reported by Federal Reserve Bank of Philadelphia. The data is categorized under Global Database’s USA – Table US.M006: Treasury Bills Rates: Forecast: Federal Reserve Bank of Philadelphia.

The Federal Reserve's balance sheet has undergone significant changes since 2007, reflecting its response to major economic crises. From a modest 0.9 trillion U.S. dollars at the end of 2007, it ballooned to approximately 6.76 trillion U.S. dollars by March 2025. This dramatic expansion, particularly during the 2008 financial crisis and the COVID-19 pandemic - both of which resulted in negative annual GDP growth in the U.S. - showcases the Fed's crucial role in stabilizing the economy through expansionary monetary policies. Impact on inflation and interest rates The Fed's expansionary measures, while aimed at stimulating economic growth, have had notable effects on inflation and interest rates. Following the quantitative easing in 2020, inflation in the United States reached eight percent in 2022, the highest since 1991. However, by November 2024, inflation had declined to 2.7 percent. Concurrently, the Federal Reserve implemented a series of interest rate hikes, with the rate peaking at 5.33 percent in August 2023, before the first rate cut since September 2021 occurred in September 2024. Financial implications for the Federal Reserve The expansion of the Fed's balance sheet and subsequent interest rate hikes have had significant financial implications. In 2023, the Fed reported a negative net income of 114.3 billion U.S. dollars, a stark contrast to the 58.84 billion U.S. dollars profit in 2022. This unprecedented shift was primarily due to rapidly rising interest rates, which caused the Fed's interest expenses to soar to over 281 billion U.S. dollars in 2023. Despite this, the Fed's net interest income on securities acquired through open market operations reached a record high of 174.53 billion U.S. dollars in the same year.

United States FRBOP Forecast: Treasury Bonds 10 Years: Median: Plus 4 Qtrs data was reported at 3.467 % in Jun 2018. This records an increase from the previous number of 3.190 % for Mar 2018. United States FRBOP Forecast: Treasury Bonds 10 Years: Median: Plus 4 Qtrs data is updated quarterly, averaging 5.002 % from Mar 1992 (Median) to Jun 2018, with 106 observations. The data reached an all-time high of 7.710 % in Dec 1994 and a record low of 2.200 % in Sep 2012. United States FRBOP Forecast: Treasury Bonds 10 Years: Median: Plus 4 Qtrs data remains active status in CEIC and is reported by Federal Reserve Bank of Philadelphia. The data is categorized under Global Database’s USA – Table US.M006: Treasury Bills Rates: Forecast: Federal Reserve Bank of Philadelphia.

Among the 12 Federal Reserve Banks of the Federal Reserve System (Fed) in the United States, the Federal Reserve Bank of New York held by far the highest value of U.S. Treasury securities in 2023. With roughly 2.8 trillion U.S. dollars worth of securities, the Federal Reserve Bank of New York held over 50 percent of all U.S. Treasury securities of the Fed. It was followed by the Federal Reserve Bank of San Francisco.

United States - Market Yield on U.S. Treasury Securities at 3-Year Constant Maturity was 4.01% in March of 2025, according to the United States Federal Reserve. Historically, United States - Market Yield on U.S. Treasury Securities at 3-Year Constant Maturity reached a record high of 16.59 in September of 1981 and a record low of 0.10 in August 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 3-Year Constant Maturity - last updated from the United States Federal Reserve on March of 2025.

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.

United States FRBOP: Annual Treasury Bills 3 Months: Median: Current data was reported at 1.874 % in Jun 2018. This records an increase from the previous number of 1.765 % for Mar 2018. United States FRBOP: Annual Treasury Bills 3 Months: Median: Current data is updated quarterly, averaging 4.445 % from Sep 1981 (Median) to Jun 2018, with 148 observations. The data reached an all-time high of 14.700 % in Sep 1981 and a record low of 0.040 % in Dec 2014. United States FRBOP: Annual Treasury Bills 3 Months: Median: Current data remains active status in CEIC and is reported by Federal Reserve Bank of Philadelphia. The data is categorized under Global Database’s USA – Table US.M006: Treasury Bills Rates: Forecast: Federal Reserve Bank of Philadelphia.

United States FRBOP: Annual Treasury Bills 3 Mos: Median: Current Plus 2 Yrs data was reported at 3.080 % in Jun 2018. This records an increase from the previous number of 2.735 % for Mar 2018. United States FRBOP: Annual Treasury Bills 3 Mos: Median: Current Plus 2 Yrs data is updated quarterly, averaging 1.895 % from Sep 2009 (Median) to Jun 2018, with 36 observations. The data reached an all-time high of 3.100 % in Mar 2010 and a record low of 0.256 % in Dec 2012. United States FRBOP: Annual Treasury Bills 3 Mos: Median: Current Plus 2 Yrs data remains active status in CEIC and is reported by Federal Reserve Bank of Philadelphia. The data is categorized under Global Database’s USA – Table US.M006: Treasury Bills Rates: Forecast: Federal Reserve Bank of Philadelphia.

The weekly average value of U.S. Treasury securities held by Federal Reserve Banks in the United States decreased since the second half of 2022, after a period of sharp increase in 2020 and 2021. As of the end of May 2024, the weekly average value of U.S. Treasury securities held by the Federal Reserve amounted to roughly 4.5 trillion U.S. dollars.

United States FRBOP: Corp Bonds Yield: Moody's: Aaa Rated: Mean: Plus 1 Qtr data was reported at 4.248 % in Jun 2018. This records an increase from the previous number of 4.021 % for Mar 2018. United States FRBOP: Corp Bonds Yield: Moody's: Aaa Rated: Mean: Plus 1 Qtr data is updated quarterly, averaging 6.843 % from Sep 1981 (Median) to Jun 2018, with 148 observations. The data reached an all-time high of 15.336 % in Mar 1982 and a record low of 3.626 % in Sep 2012. United States FRBOP: Corp Bonds Yield: Moody's: Aaa Rated: Mean: Plus 1 Qtr data remains active status in CEIC and is reported by Federal Reserve Bank of Philadelphia. The data is categorized under Global Database’s USA – Table US.M006: Treasury Bills Rates: Forecast: Federal Reserve Bank of Philadelphia.

Graph and download economic data for Market Yield on U.S. Treasury Securities at 20-Year Constant Maturity, Quoted on an Investment Basis (WGS20YR) from 1962-01-05 to 2025-03-21 about 20-year, maturity, Treasury, interest rate, interest, rate, and USA.

United States FRBOP Forecast: Treasury Bills 3 Months: Median: Plus 4 Qtrs data was reported at 2.602 % in Jun 2018. This records an increase from the previous number of 2.180 % for Mar 2018. United States FRBOP Forecast: Treasury Bills 3 Months: Median: Plus 4 Qtrs data is updated quarterly, averaging 4.585 % from Sep 1981 (Median) to Jun 2018, with 148 observations. The data reached an all-time high of 12.800 % in Dec 1981 and a record low of 0.080 % in Mar 2012. United States FRBOP Forecast: Treasury Bills 3 Months: Median: Plus 4 Qtrs data remains active status in CEIC and is reported by Federal Reserve Bank of Philadelphia. The data is categorized under Global Database’s USA – Table US.M006: Treasury Bills Rates: Forecast: Federal Reserve Bank of Philadelphia.

United States FRBOP Forecast: Corp Bonds Yield: Moody's: Baa Rated: Mean data was reported at 4.769 % in Jun 2018. This records an increase from the previous number of 4.504 % for Mar 2018. United States FRBOP Forecast: Corp Bonds Yield: Moody's: Baa Rated: Mean data is updated quarterly, averaging 5.095 % from Mar 2010 (Median) to Jun 2018, with 34 observations. The data reached an all-time high of 6.364 % in Mar 2010 and a record low of 4.446 % in Dec 2016. United States FRBOP Forecast: Corp Bonds Yield: Moody's: Baa Rated: Mean data remains active status in CEIC and is reported by Federal Reserve Bank of Philadelphia. The data is categorized under Global Database’s USA – Table US.M006: Treasury Bills Rates: Forecast: Federal Reserve Bank of Philadelphia.

Graph and download economic data for Market Yield on U.S. Treasury Securities at 2-Year Constant Maturity, Quoted on an Investment Basis (DGS2) from 1976-06-01 to 2025-03-24 about 2-year, maturity, Treasury, interest rate, interest, rate, and USA.

United States FRBOP: 3Mo TBillsRate over Next-Qtr CPE Inflation: Mean data was reported at -0.265 % in Jun 2018. This records an increase from the previous number of -0.341 % for Mar 2018. United States FRBOP: 3Mo TBillsRate over Next-Qtr CPE Inflation: Mean data is updated quarterly, averaging -1.366 % from Mar 2007 (Median) to Jun 2018, with 46 observations. The data reached an all-time high of 2.866 % in Sep 2007 and a record low of -1.891 % in Jun 2011. United States FRBOP: 3Mo TBillsRate over Next-Qtr CPE Inflation: Mean data remains active status in CEIC and is reported by Federal Reserve Bank of Philadelphia. The data is categorized under Global Database’s USA – Table US.M006: Treasury Bills Rates: Forecast: Federal Reserve Bank of Philadelphia.