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 Market Yield on U.S. Treasury Securities at 2-Year Constant Maturity, Quoted on an Investment Basis (DGS2) from 1976-06-01 to 2025-07-28 about 2-year, maturity, Treasury, interest rate, interest, rate, and USA.

The yield on two-year U.S. treasury bonds started increasing since 2021, reaching a peak of **** percent in October 2023. This comes after the yields for two-year treasury bonds plummeted down to less than *** for much of 2020 owing to the global coronavirus (COVID-19) pandemic. As of June 2025, the yield on two-year U.S. treasury bonds stood at 3.73 percent.

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.

Graph and download economic data for Market Yield on U.S. Treasury Securities at 30-Year Constant Maturity, Quoted on an Investment Basis (DGS30) from 1977-02-15 to 2025-07-28 about 30-year, maturity, Treasury, interest rate, interest, rate, and USA.

The yield on China 2 Year Bond Yield rose to 1.46% on July 30, 2025, marking a 0.02 percentage point increase from the previous session. Over the past month, the yield has edged up by 0.09 points, though it remains 0.06 points lower 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 China 2Y.

The spread between 10–year and two–year U.S. Treasury bond yields reached a positive value of 0.49 percent in June 2025. The 10–year minus two–year Treasury bond spread is generally considered to be an advance warning of severe weakness in the stock market. Negative spreads occurred prior to the recession of the early 1990s, the tech-bubble crash in 2000–2001, and the financial crisis of 2007–2008.

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 Japan 2 Year Bond Yield eased to 0.83% on July 31, 2025, marking a 0 percentage point decrease from the previous session. Over the past month, the yield has edged up by 0.09 points and is 0.36 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. Japan 2 Year Government Bond Yield - values, historical data, forecasts and news - updated on July of 2025.

This dataset provides values for 2 YEAR NOTE YIELD reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Graph and download economic data for Fitted Yield on a 2 Year Zero Coupon Bond (THREEFY2) from 1990-01-02 to 2025-07-25 about 2-year, bonds, yield, interest rate, interest, rate, and USA.

In January 2020, prior to the onset of the global coronavirus (COVID-19) pandemic, three of the seven largest economies by GDP had negative yields for two-year government bonds (Japan, Germany and France). With the onset of the pandemic, two-year bond yields in these countries actually rose slightly - in contrast to the other major economies, where yields fell over this period. As of December 2024, yields for two-year government bonds exhibited fluctuations across all countries. Notably, Japan showed a slight upward trend, while China experienced a modest decline.Negative yields assume that investors lack confidence in economic growth, meaning many investments (such as stocks) may lose value. Therefore, it is preferable to take a small loss on government debt that carries almost no risk to the investor, than risk a larger loss on other investments. As both the yen and euro are considered very safe assets, Japanese, German and French bonds were already being held by many investors prior to the pandemic as a hedge against economic downturn. Therefore, with the announcement of fiscal responses to the pandemic by many governments around March 2020, the value of these assets rose as confidence increased (slightly) that the worst case may be avoided. At the same time, yields on bonds with a higher return fell, as investors sought out investments with a higher return that were still considered safe.

Graph and download economic data for 2-Year High Quality Market (HQM) Corporate Bond Par Yield (HQMCB2YRP) from Jan 1984 to Jun 2025 about 2-year, bonds, yield, corporate, interest rate, interest, rate, and USA.

US 2-Year Treasury Note Rates yield data, US 2-Year Treasury Note Rates data, recent 38 years (traceable to Feb 25,1988), the yield unit is %, latest yield value is 3.9, updated at Jul 16,2025

The yield on Finland 2Y Bond Yield eased to 2.06% 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, though it remains 0.61 points lower 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 Finland 2Y Bond Yield.

The yield on German two-year treasure notes was equal to 2.09 percent as of the end of December 2024. For short term debt traded on the capital market, the German federal government issues a two-year treasury note called a 'Schatz' in German. This is then followed by five-year treasure notes called 'Bobl', then federal bonds with a maturity of between 10 and 30 years ('Bund' in German).

View data describing the spread between 10-Year and 2-Year Treasury Constant Maturities, which can indicate perceived economic outlook.

Graph and download economic data for Market Yield on U.S. Treasury Securities at 20-Year Constant Maturity, Quoted on an Investment Basis (DGS20) from 1962-01-02 to 2025-07-29 about 20-year, maturity, Treasury, interest rate, interest, 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.

The yield on ******** bonds issued by the Australian Government has declined sharply between 2010 and 2021. From a peak of **** percent in December 2010, ******** bond yields fell to a low of **** percent in August 2021. However, since then, the yields have increased, reaching **** percent in June 2025.