Graph and download economic data for 1-Year Treasury Constant Maturity Minus Federal Funds Rate (T1YFF) from 1962-01-02 to 2025-06-26 about yield curve, 1-year, spread, maturity, Treasury, federal, interest rate, interest, rate, and USA.

Graph and download economic data for 10-Year Treasury Constant Maturity Minus Federal Funds Rate (T10YFF) from 1962-01-02 to 2025-06-26 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 -0.05% in April 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 June of 2025.

United States - 3-Month Treasury Bill Minus Federal Funds Rate was -0.08% in May of 2025, according to the United States Federal Reserve. Historically, United States - 3-Month Treasury Bill Minus Federal Funds Rate reached a record high of 1.07 in July of 1961 and a record low of -5.37 in July of 1974. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - 3-Month Treasury Bill Minus Federal Funds Rate - last updated from the United States Federal Reserve on June 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.

Series is calculated as the spread between 3-Month Treasury Bill: Secondary Market Rate (ROUND_B1_CLOSE_13WK_2M)) and Effective Federal Funds Rate (https://fred.stlouisfed.org/series/EFFRM). 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 6-Month Treasury Bill Minus Federal Funds Rate (TB6SMFFM) from Dec 1958 to May 2025 about 6-month, yield curve, bills, Treasury, federal, rate, and USA.

The Average Interest Rates on U.S. Treasury Securities dataset provides average interest rates on U.S. Treasury securities on a monthly basis. Its primary purpose is to show the average interest rate on a variety of marketable and non-marketable Treasury securities. Marketable securities consist of Treasury Bills, Notes, Bonds, Treasury Inflation-Protected Securities (TIPS), Floating Rate Notes (FRNs), and Federal Financing Bank (FFB) securities. Non-marketable securities consist of Domestic Series, Foreign Series, State and Local Government Series (SLGS), U.S. Savings Securities, and Government Account Series (GAS) securities. Marketable securities are negotiable and transferable and may be sold on the secondary market. Non-marketable securities are not negotiable or transferrable and are not sold on the secondary market. This is a useful dataset for investors and bond holders to compare how interest rates on Treasury securities have changed over time.

United States - 1-Year Treasury Constant Maturity Minus Federal Funds Rate was -0.37% in June of 2025, according to the United States Federal Reserve. Historically, United States - 1-Year Treasury Constant Maturity Minus Federal Funds Rate reached a record high of 3.61 in December of 1965 and a record low of -10.11 in December of 1986. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - 1-Year Treasury Constant Maturity Minus Federal Funds Rate - last updated from the United States Federal Reserve on June of 2025.

Series is calculated as the spread between 1-Year Treasury Constant Maturity (BC_1YEAR) and Effective Federal Funds Rate (https://fred.stlouisfed.org/series/DFF). 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).

Series is calculated as the spread between 5-Year Treasury Constant Maturity (BC_5YEAR) and Effective Federal Funds Rate (https://fred.stlouisfed.org/series/EFFR). 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).

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.

Graph and download economic data for 3-Month Treasury Bill Minus Federal Funds Rate (TB3SMFFM) from Jul 1954 to May 2025 about yield curve, bills, 3-month, Treasury, federal, rate, and USA.

United States - 3-Month Treasury Constant Maturity Minus Federal Funds Rate was -0.01% in April of 2025, according to the United States Federal Reserve. Historically, United States - 3-Month Treasury Constant Maturity Minus Federal Funds Rate reached a record high of 0.79 in October of 2022 and a record low of -2.12 in September of 1982. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - 3-Month Treasury Constant Maturity Minus Federal Funds Rate - last updated from the United States Federal Reserve on June of 2025.

Interactive chart showing the daily 10 year treasury yield back to 1962. The 10 year treasury is the benchmark used to decide mortgage rates across the U.S. and is the most liquid and widely traded bond in the world.

United States - 6-Month Treasury Constant Maturity Minus Federal Funds Rate was -0.03% in May of 2025, according to the United States Federal Reserve. Historically, United States - 6-Month Treasury Constant Maturity Minus Federal Funds Rate reached a record high of 1.23 in October of 2022 and a record low of -1.32 in May of 1982. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - 6-Month Treasury Constant Maturity Minus Federal Funds Rate - last updated from the United States Federal Reserve on June of 2025.

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.

Interactive chart showing the daily 1 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 one-year maturity.

United States - 5-Year Treasury Constant Maturity Minus Federal Funds Rate was -0.34% in June of 2025, according to the United States Federal Reserve. Historically, United States - 5-Year Treasury Constant Maturity Minus Federal Funds Rate reached a record high of 4.66 in November of 1975 and a record low of -9.41 in December of 1980. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - 5-Year Treasury Constant Maturity Minus Federal Funds Rate - last updated from the United States Federal Reserve on June of 2025.

Graph and download economic data for 5-Year Treasury Constant Maturity Minus Federal Funds Rate (T5YFF) from 1962-01-02 to 2025-06-27 about yield curve, spread, maturity, Treasury, federal, interest rate, interest, 5-year, rate, and USA.