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 10 Year Note Bond Yield rose to 4.12% on December 2, 2025, marking a 0.02 percentage points increase from the previous session. Over the past month, the yield has remained flat, and it is 0.11 points lower 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 December of 2025.

The yield on US 30 Year Bond Yield rose to 4.76% on December 2, 2025, marking a 0.02 percentage points increase from the previous session. Over the past month, the yield has edged up by 0.06 points and is 0.35 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 December of 2025.

This statistic shows the yield on ten-year government bonds in the Netherlands from 2011 to 2023 with a forecast for 2024 and 2025. In 2023, the long-term interest rate was at *** percent. A ten-year government bond, or treasury note, is a debt obligation issued by a government which matures in ten years. They are considered to be a low-risk investment as they are backed by the government and their ability to raise taxes to cover its obligations. Investors track them, however, for several reasons. First, these bonds are the benchmark that guides other financial interest rates, such as fixed mortgage rates. Second, their yield will tell how investors feel about the economy. The higher the yield on a ten-year government bond, the better the economic outlook.

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.

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 Oct 2025 about long-term, 10-year, bonds, yield, government, interest rate, interest, rate, and USA.

The yield on US 3 Year Note Bond Yield eased to 3.52% on December 3, 2025, marking a 0.02 percentage points decrease from the previous session. Over the past month, the yield has fallen by 0.08 points and is 0.58 points lower than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. United States 3 Year Note Yield - values, historical data, forecasts and news - updated on December of 2025.

View quarterly updates and historical trends for Median Forecasts for 3-Month Treasury Bill Rate. from United States. Source: Federal Reserve Bank of Phil…

The yield on India 10Y Bond Yield eased to 6.52% on December 2, 2025, marking a 0.06 percentage points decrease from the previous session. Over the past month, the yield has fallen by 0.03 points and is 0.24 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 December of 2025.

India IN: Long-Term Interest Rate: Government Bonds data was reported at 6.250 % in 2026. This records a decrease from the previous number of 6.450 % for 2025. India IN: Long-Term Interest Rate: Government Bonds data is updated yearly, averaging 7.590 % from Dec 1996 (Median) to 2026, with 31 observations. The data reached an all-time high of 13.601 % in 1996 and a record low of 5.386 % in 2003. India IN: Long-Term Interest Rate: Government Bonds data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s India – Table IN.OECD.EO: Interest Rate: Forecast: Non OECD Member: Annual. IRL - Long-term interest rate on government bonds

Global Bond market size 2021 was recorded $13139.1 Billion whereas by the end of 2025 it will reach $14872.8 Billion. According to the author, by 2033 Bond market size will become $19056.6. Bond market will be growing at a CAGR of 3.147% during 2025 to 2033.

Slovakia SK: Long-Term Interest Rate: Government Bonds data was reported at 3.487 % in 2026. This records an increase from the previous number of 3.357 % for 2025. Slovakia SK: Long-Term Interest Rate: Government Bonds data is updated yearly, averaging 3.872 % from Dec 1996 (Median) to 2026, with 31 observations. The data reached an all-time high of 21.725 % in 1998 and a record low of -0.080 % in 2021. Slovakia SK: Long-Term Interest Rate: Government Bonds data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Slovakia – Table SK.OECD.EO: Interest Rate: Forecast: OECD Member: Annual. IRL - Long-term interest rate on government bonds; Yield of long term government bond yield. Before September 2000, data refer to average interest rate yield for Government Bonds achieved on the primary market (with 2 years maturity). From September 2000, data refer to yields on 10-year benchmark bonds

The yield on Germany 10Y Bond Yield eased to 2.70% on November 21, 2025, marking a 0.02 percentage points decrease from the previous session. Over the past month, the yield has edged up by 0.14 points and is 0.44 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. Germany 10-Year Bond Yield - values, historical data, forecasts and news - updated on November of 2025.

Luxembourg LU: Long-Term Interest Rate: Government Bonds data was reported at 2.760 % in 2026. This records an increase from the previous number of 2.630 % for 2025. Luxembourg LU: Long-Term Interest Rate: Government Bonds data is updated yearly, averaging 2.945 % from Dec 1993 (Median) to 2026, with 34 observations. The data reached an all-time high of 7.230 % in 1995 and a record low of -0.414 % in 2020. Luxembourg LU: Long-Term Interest Rate: Government Bonds data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Luxembourg – Table LU.OECD.EO: Interest Rate: Forecast: OECD Member: Annual. IRL - Long-term interest rate on government bonds; ECB reports a harmonised long-term interest rate starting mid-may 2010. before, the Luxembourg government did not have outstanding long-term debt securities with a residual maturity of close to ten years. therefore, the yield on long-term bond(s) issued by a private credit institution with a residual maturity close to 10 years is presented for the period up to mid-may 2010 and is thus not fully harmonised for that period.

Fixed Income Asset Management Market Outlook

The global fixed income asset management market size was valued at approximately USD 5.7 trillion in 2023 and is projected to grow to USD 9.3 trillion by 2032, expanding at a compound annual growth rate (CAGR) of 5.5% over the forecast period. The growth of this market is primarily driven by the increasing demand for stable and predictable returns in an uncertain economic environment.

One of the significant growth factors for the fixed income asset management market is the aging global population. As more individuals approach retirement age, the demand for fixed income investments that offer stable returns and lower risk compared to equities is increasing. Retirees and near-retirees often prioritize capital preservation and income generation, which fixed income products are well-suited to provide. This demographic trend is particularly prominent in developed countries but is also becoming more relevant in emerging markets as their populations age and accumulate wealth.

Another crucial growth driver is the rising interest rate environment. As central banks around the world shift towards tightening monetary policies to combat inflation, interest rates are gradually increasing. Higher interest rates make newly issued bonds more attractive to investors due to their higher yields. This situation creates opportunities for fixed income asset managers to attract new investments and cater to clients looking for better returns in a higher interest rate environment. Additionally, higher yields can enhance the overall performance of fixed income portfolios, making them more appealing to both institutional and retail investors.

The increasing complexity and diversity of fixed income products is also contributing to market growth. The fixed income market has evolved to include a wide range of instruments beyond traditional government and corporate bonds. Products such as mortgage-backed securities, municipal bonds, and various structured financial instruments offer different risk-return profiles and investment opportunities. This diversification allows asset managers to tailor portfolios to meet specific client needs and preferences, thereby attracting a broader investor base. The development of innovative fixed income products continues to drive growth in this market by expanding the range of investment options available.

In the realm of private equity, the PE Fund Management Fee plays a crucial role in shaping the investment landscape. These fees are typically charged by fund managers to cover the operational costs of managing the fund, including research, administration, and portfolio management. The structure of these fees can vary, often comprising a management fee based on the committed capital and a performance fee tied to the fund's returns. Understanding the intricacies of these fees is essential for investors, as they can significantly impact the net returns on their investments. As private equity continues to grow as an asset class, the transparency and justification of management fees are becoming increasingly important to investors seeking to maximize their returns while ensuring alignment of interests with fund managers.

From a regional perspective, North America remains the largest market for fixed income asset management, driven by the presence of a well-established financial industry, a large pool of institutional investors, and a high level of individual wealth. However, the Asia Pacific region is expected to exhibit the highest growth rate during the forecast period. Rapid economic growth, increasing financial literacy, and a burgeoning middle class are driving demand for fixed income investments in countries such as China and India. Additionally, regulatory reforms aimed at developing local bond markets and attracting foreign investment are further propelling the market in this region.

Asset Type Analysis

The fixed income asset management market can be categorized by asset type into government bonds, corporate bonds, municipal bonds, mortgage-backed securities, and others. Each of these asset types offers unique characteristics and appeals to different segments of investors, contributing to the overall growth and diversification of the market.

Government bonds are one of the most significant segments in the fixed income market. Issued by national governments, these bonds are considered low-risk investments due to the backing of the issuing g

Japan JP: Long-Term Interest Rate: Government Bonds data was reported at 1.845 % in 2026. This records an increase from the previous number of 1.345 % for 2025. Japan JP: Long-Term Interest Rate: Government Bonds data is updated yearly, averaging 3.029 % from Dec 1966 (Median) to 2026, with 61 observations. The data reached an all-time high of 8.871 % in 1980 and a record low of -0.098 % in 2019. Japan JP: Long-Term Interest Rate: Government Bonds data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Japan – Table JP.OECD.EO: Interest Rate: Forecast: OECD Member: Annual. IRL - Long-term interest rate on government bonds; Data refer to Japan Benchmark Bond - Redemption Yield 10 Years. Break in December 1998; pre-1998 refer to interest bearing government bonds (10 Years)

By 2035, the gross federal debt of the United States is projected to be about 59.3 trillion U.S. dollars. This would be an increase of around 24 trillion U.S. dollars from 2024, when the federal debt was around 35 trillion U.S. dollars. The federal debt of the U.S. The federal debt, also called the national debt or public debt, is the amount of debt held by the United States government. This debt may be to other countries, or to different departments within the government itself. The public debt of the United States has increased significantly over the past 30 years, as it was around 3.2 trillion U.S. dollars in 1990 and surpassed 30 trillion dollars for the first time in 2022. When broken down per capita, the national debt amounted to about 80,885 U.S. dollars of debt per person in the United States in 2021. The problem of the federal debt Over the past decade, the federal debt limit in the United States has increased significantly. The U.S. debt ceiling can only be changed by an act of Congress which is then signed by the president. The raising of the ceiling has become a recurring political issue in recent years, especially during times when the Presidency and chambers of Congress are controlled by different parties. The debt ceiling is a tool that allows the Treasury to issue bonds without congressional approval, allowing for efficiency in the way that the government pays for programs and services. It is thought to be further valuable in that it keeps federal finances in check. However, when the two parties are unable to come to an agreement on raising the debt ceiling, the government comes to a shutdown because they can no longer fund themselves. The Republican Party in particular often positions itself against raising the federal debt ceiling, characterizing themselves as the party of fiscal conservativism. However, analyses have shown that both parties have contributed to the country's debt in almost equal measures.

Canada FIN Forecast: Marketable Bonds: Treasury Bills data was reported at 272,000.000 CAD mn in 2025. This records an increase from the previous number of 242,000.000 CAD mn for 2024. Canada FIN Forecast: Marketable Bonds: Treasury Bills data is updated yearly, averaging 150,500.000 CAD mn from Mar 2010 (Median) to 2025, with 16 observations. The data reached an all-time high of 272,000.000 CAD mn in 2025 and a record low of 129,000.000 CAD mn in 2016. Canada FIN Forecast: Marketable Bonds: Treasury Bills data remains active status in CEIC and is reported by Department of Finance Canada. The data is categorized under Global Database’s Canada – Table CA.F010: Federal Government Debt: Forecast: Department of Finance.

Key information about Canada Short Term Government Bond Yield

• Canada Short Term Government Bond Yield: Daily: Canada: 2 Years was reported at 2.41 % pa in Nov 2025, compared with 2.40 % pa in the previous day.
• Canada Short Term Government Bond Yield data is updated daily, available from Jan 1993 to Nov 2025.
• The data reached an all-time high of 4.97 % pa in Oct 2023 and a record low of 0.15 % pa in Feb 2021.
• Short Term Government Bond Yield is reported by CEIC Data.

The yield on US 2 Year Note Bond Yield eased to 3.54% on December 2, 2025, marking a 0.01 percentage points decrease from the previous session. Over the past month, the yield has fallen by 0.08 points and is 0.65 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 December of 2025.