Par yield curve, constant maturity: 10-year
What has the 10-year Treasury yield been over time?
On , Treasury's 10-year par yield was 4.99%, 1 basis point lower than the day before and 98 basis points higher than a year earlier.
The 10-year par yield on the last business day of each month
Shaded bands are US recessions as the National Bureau of Economic Research dates them: to , to , to , to .
Shaded bands are US recessions as the National Bureau of Economic Research dates them: to .
The 10-year par yield each business day
Each point is one month-end, or one business day under "Latest days"; pointing at the chart shows its date and yield.
Select a line to followLatest:
Inspect and compare dates
The latest day beside the day before and the month-ends nearest a year, five and ten years earlier.
| Day | Latest | The day before | A year earlier | Five years earlier | Ten years earlier |
|---|---|---|---|---|---|
| Date | |||||
| Par yield | 4.99% | 5.00% | 4.16% | 1.52% | 1.60% |
The table scrolls sideways; the first column stays in place.
Observed .
Right now
The 10-year par yield was 4.99% on , 98 basis points higher than a year earlier.
The 10-year par yield ended September 2026 at 5.29%, its highest month-end since March 2002.
ChangeOurs
| Period | Then | Change |
|---|---|---|
| One month | 4.75%, the yield at the end of | +0.54 percentage points |
| Three months | 4.44%, the yield at the end of | +0.85 percentage points |
| Twelve months | 4.16%, the yield at the end of | +1.13 percentage points |
| Five years | 1.52%, the yield at the end of | +3.77 percentage points |
| Ten years | 1.60%, the yield at the end of | +3.69 percentage points |
In historyOurs
The 10-year par yield of 5.29% at the end of was higher than in 312 of the 440 other month-ends since , the same in 1 and lower in 127.
Highest since : 9.04% at the end of . Lowest since : 0.55% at the end of .
AverageOurs
Average since : 4.239% (ours, a plain mean of the 441 month-ends).
Its 52-week rangeOurs, from Treasury's curve
Its five-year rangeMonth-ends, ours
Over the last five years of month-ends it ran from 1.43% on to 5.29% on ; the reading of 4.99% is 92.2% of the way from the low to the high.
Low 1.43% Midpoint 3.360% High 5.29%
The 10-year par yield, change from one month-end to the next, by year
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Whole year |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +8 | −29 | +33 | +10 | +5 | −1 | +31 | 0 | +54 | – | – | – | +111 |
| 2025 | 0 | −34 | −1 | −6 | +24 | −17 | +13 | −14 | −7 | −5 | −9 | +16 | −40 |
| 2024 | +11 | +26 | −5 | +49 | −18 | −15 | −27 | −18 | −10 | +47 | −10 | +40 | +70 |
| 2023 | −36 | +40 | −44 | −4 | +20 | +17 | +16 | +12 | +50 | +29 | −51 | −49 | 0 |
| 2022 | +27 | +4 | +49 | +57 | −4 | +13 | −31 | +48 | +68 | +27 | −42 | +20 | +236 |
| 2021 | +18 | +33 | +30 | −9 | −7 | −13 | −21 | +6 | +22 | +3 | −12 | +9 | +59 |
| 2020 | −41 | −38 | −43 | −6 | +1 | +1 | −11 | +17 | −3 | +19 | −4 | +9 | −99 |
| 2019 | −6 | +10 | −32 | +10 | −37 | −14 | +2 | −52 | +18 | +1 | +9 | +14 | −77 |
| 2018 | +32 | +15 | −13 | +21 | −12 | +2 | +11 | −10 | +19 | +10 | −14 | −32 | +29 |
| 2017 | 0 | −9 | +4 | −11 | −8 | +10 | −1 | −18 | +21 | +5 | +4 | −2 | −5 |
| 2016 | −33 | −20 | +4 | +5 | +1 | −35 | −3 | +12 | +2 | +24 | +53 | +8 | +18 |
| 2015 | −49 | +32 | −6 | +11 | +7 | +23 | −15 | +1 | −15 | +10 | +5 | +6 | +10 |
| 2014 | −37 | −1 | +7 | −6 | −19 | +5 | +5 | −23 | +17 | −17 | −17 | −1 | −87 |
| 2013 | +24 | −13 | −2 | −17 | +46 | +36 | +8 | +18 | −14 | −7 | +18 | +29 | +126 |
| 2012 | −6 | +15 | +25 | −28 | −36 | +8 | −16 | +6 | +8 | +7 | −10 | +16 | −11 |
| Average | −5.9 | +2.1 | +0.4 | +5.1 | −2.5 | +1.3 | −2.6 | −1.0 | +15.3 | +10.9 | −5.7 | +5.9 | – |
Each chip is one month. The mark in its middle is zero: a fill to the right of it is a rise and a fill to the left a fall. A longer, brighter fill is a larger change, in five steps up to 41 and over; the last column has a scale of its own, up to 126 and over. Every chip prints its figure and sign. A year still running is counted through its last month: .
Observed .
Understanding the 10-year par yield
Where it stands today
The 10-year par yield was 4.99% on .
What does this chart measure?
The 10-year par yield is the coupon rate at which a new 10-year Treasury security would sell at par, from the curve Treasury fits each business day to closing bid prices.
Read more
Month-ends are the last business day of each finished month Treasury published a value for this term; the running month shows in the latest days. The 52-week range and the changes in basis points are computed by 500metrics.
The numbers behind the chart
What was the yield at each month-end?441 month-ends since 31 Jan 1990, newest first
| Month-end | Par yield |
|---|---|
| 5.29% | |
| 4.75% | |
| 4.75% | |
| 4.44% | |
| 4.45% | |
| 4.40% | |
| 4.30% | |
| 3.97% | |
| 4.26% | |
| 4.18% | |
| 4.02% | |
| 4.11% | |
| 4.16% | |
| 4.23% | |
| 4.37% | |
| 4.24% | |
| 4.41% | |
| 4.17% | |
| 4.23% | |
| 4.24% | |
| 4.58% | |
| 4.58% | |
| 4.18% | |
| 4.28% |
Show 417 more rows
| Month-end | Par yield |
|---|---|
| 3.81% | |
| 3.91% | |
| 4.09% | |
| 4.36% | |
| 4.51% | |
| 4.69% | |
| 4.20% | |
| 4.25% | |
| 3.99% | |
| 3.88% | |
| 4.37% | |
| 4.88% | |
| 4.59% | |
| 4.09% | |
| 3.97% | |
| 3.81% | |
| 3.64% | |
| 3.44% | |
| 3.48% | |
| 3.92% | |
| 3.52% | |
| 3.88% | |
| 3.68% | |
| 4.10% | |
| 3.83% | |
| 3.15% | |
| 2.67% | |
| 2.98% | |
| 2.85% | |
| 2.89% | |
| 2.32% | |
| 1.83% | |
| 1.79% | |
| 1.52% | |
| 1.43% | |
| 1.55% | |
| 1.52% | |
| 1.30% | |
| 1.24% | |
| 1.45% | |
| 1.58% | |
| 1.65% | |
| 1.74% | |
| 1.44% | |
| 1.11% | |
| 0.93% | |
| 0.84% | |
| 0.88% | |
| 0.69% | |
| 0.72% | |
| 0.55% | |
| 0.66% | |
| 0.65% | |
| 0.64% | |
| 0.70% | |
| 1.13% | |
| 1.51% | |
| 1.92% | |
| 1.78% | |
| 1.69% | |
| 1.68% | |
| 1.50% | |
| 2.02% | |
| 2.00% | |
| 2.14% | |
| 2.51% | |
| 2.41% | |
| 2.73% | |
| 2.63% | |
| 2.69% | |
| 3.01% | |
| 3.15% | |
| 3.05% | |
| 2.86% | |
| 2.96% | |
| 2.85% | |
| 2.83% | |
| 2.95% | |
| 2.74% | |
| 2.87% | |
| 2.72% | |
| 2.40% | |
| 2.42% | |
| 2.38% | |
| 2.33% | |
| 2.12% | |
| 2.30% | |
| 2.31% | |
| 2.21% | |
| 2.29% | |
| 2.40% | |
| 2.36% | |
| 2.45% | |
| 2.45% | |
| 2.37% | |
| 1.84% | |
| 1.60% | |
| 1.58% | |
| 1.46% | |
| 1.49% | |
| 1.84% | |
| 1.83% | |
| 1.78% | |
| 1.74% | |
| 1.94% | |
| 2.27% | |
| 2.21% | |
| 2.16% | |
| 2.06% | |
| 2.21% | |
| 2.20% | |
| 2.35% | |
| 2.12% | |
| 2.05% | |
| 1.94% | |
| 2.00% | |
| 1.68% | |
| 2.17% | |
| 2.18% | |
| 2.35% | |
| 2.52% | |
| 2.35% | |
| 2.58% | |
| 2.53% | |
| 2.48% | |
| 2.67% | |
| 2.73% | |
| 2.66% | |
| 2.67% | |
| 3.04% | |
| 2.75% | |
| 2.57% | |
| 2.64% | |
| 2.78% | |
| 2.60% | |
| 2.52% | |
| 2.16% | |
| 1.70% | |
| 1.87% | |
| 1.89% | |
| 2.02% | |
| 1.78% | |
| 1.62% | |
| 1.72% | |
| 1.65% | |
| 1.57% | |
| 1.51% | |
| 1.67% | |
| 1.59% | |
| 1.95% | |
| 2.23% | |
| 1.98% | |
| 1.83% | |
| 1.89% | |
| 2.08% | |
| 2.17% | |
| 1.92% | |
| 2.23% | |
| 2.82% | |
| 3.18% | |
| 3.05% | |
| 3.32% | |
| 3.47% | |
| 3.42% | |
| 3.42% | |
| 3.30% | |
| 2.81% | |
| 2.63% | |
| 2.53% | |
| 2.47% | |
| 2.94% | |
| 2.97% | |
| 3.31% | |
| 3.69% | |
| 3.84% | |
| 3.61% | |
| 3.63% | |
| 3.85% | |
| 3.21% | |
| 3.41% | |
| 3.31% | |
| 3.40% | |
| 3.52% | |
| 3.53% | |
| 3.47% | |
| 3.16% | |
| 2.71% | |
| 3.02% | |
| 2.87% | |
| 2.25% | |
| 2.93% | |
| 4.01% | |
| 3.85% | |
| 3.83% | |
| 3.99% | |
| 3.99% | |
| 4.06% | |
| 3.77% | |
| 3.45% | |
| 3.53% | |
| 3.67% | |
| 4.04% | |
| 3.97% | |
| 4.48% | |
| 4.59% | |
| 4.54% | |
| 4.78% | |
| 5.03% | |
| 4.90% | |
| 4.63% | |
| 4.65% | |
| 4.56% | |
| 4.83% | |
| 4.71% | |
| 4.46% | |
| 4.61% | |
| 4.64% | |
| 4.74% | |
| 4.99% | |
| 5.15% | |
| 5.12% | |
| 5.07% | |
| 4.86% | |
| 4.55% | |
| 4.53% | |
| 4.39% | |
| 4.49% | |
| 4.57% | |
| 4.34% | |
| 4.02% | |
| 4.28% | |
| 3.94% | |
| 4.00% | |
| 4.21% | |
| 4.50% | |
| 4.36% | |
| 4.14% | |
| 4.24% | |
| 4.36% | |
| 4.05% | |
| 4.14% | |
| 4.13% | |
| 4.50% | |
| 4.62% | |
| 4.66% | |
| 4.53% | |
| 3.86% | |
| 3.99% | |
| 4.16% | |
| 4.27% | |
| 4.34% | |
| 4.33% | |
| 3.96% | |
| 4.45% | |
| 4.49% | |
| 3.54% | |
| 3.37% | |
| 3.89% | |
| 3.83% | |
| 3.71% | |
| 4.00% | |
| 3.83% | |
| 4.22% | |
| 3.93% | |
| 3.63% | |
| 4.14% | |
| 4.51% | |
| 4.86% | |
| 5.08% | |
| 5.11% | |
| 5.42% | |
| 4.88% | |
| 5.07% | |
| 5.07% | |
| 4.78% | |
| 4.30% | |
| 4.60% | |
| 4.85% | |
| 5.07% | |
| 5.42% | |
| 5.43% | |
| 5.35% | |
| 4.93% | |
| 4.92% | |
| 5.19% | |
| 5.12% | |
| 5.48% | |
| 5.77% | |
| 5.80% | |
| 5.73% | |
| 6.04% | |
| 6.03% | |
| 6.29% | |
| 6.23% | |
| 6.03% | |
| 6.42% | |
| 6.68% | |
| 6.45% | |
| 6.18% | |
| 6.02% | |
| 5.90% | |
| 5.98% | |
| 5.92% | |
| 5.81% | |
| 5.64% | |
| 5.36% | |
| 5.25% | |
| 5.29% | |
| 4.66% | |
| 4.65% | |
| 4.74% | |
| 4.64% | |
| 4.44% | |
| 5.05% | |
| 5.50% | |
| 5.44% | |
| 5.56% | |
| 5.68% | |
| 5.67% | |
| 5.62% | |
| 5.53% | |
| 5.75% | |
| 5.86% | |
| 5.84% | |
| 6.12% | |
| 6.34% | |
| 6.02% | |
| 6.51% | |
| 6.67% | |
| 6.72% | |
| 6.92% | |
| 6.56% | |
| 6.53% | |
| 6.43% | |
| 6.06% | |
| 6.37% | |
| 6.72% | |
| 6.96% | |
| 6.80% | |
| 6.73% | |
| 6.85% | |
| 6.66% | |
| 6.34% | |
| 6.13% | |
| 5.60% | |
| 5.58% | |
| 5.76% | |
| 6.03% | |
| 6.17% | |
| 6.28% | |
| 6.45% | |
| 6.21% | |
| 6.30% | |
| 7.07% | |
| 7.20% | |
| 7.22% | |
| 7.60% | |
| 7.84% | |
| 7.91% | |
| 7.81% | |
| 7.62% | |
| 7.19% | |
| 7.12% | |
| 7.34% | |
| 7.17% | |
| 7.06% | |
| 6.77% | |
| 6.15% | |
| 5.70% | |
| 5.83% | |
| 5.83% | |
| 5.43% | |
| 5.40% | |
| 5.45% | |
| 5.83% | |
| 5.80% | |
| 6.16% | |
| 6.05% | |
| 6.03% | |
| 6.03% | |
| 6.39% | |
| 6.70% | |
| 6.95% | |
| 6.80% | |
| 6.37% | |
| 6.62% | |
| 6.72% | |
| 7.14% | |
| 7.33% | |
| 7.61% | |
| 7.54% | |
| 7.27% | |
| 7.31% | |
| 6.71% | |
| 7.38% | |
| 7.47% | |
| 7.47% | |
| 7.82% | |
| 8.20% | |
| 8.24% | |
| 8.06% | |
| 8.02% | |
| 8.05% | |
| 8.02% | |
| 8.03% | |
| 8.08% | |
| 8.26% | |
| 8.65% | |
| 8.82% | |
| 8.86% | |
| 8.36% | |
| 8.43% | |
| 8.60% | |
| 9.04% | |
| 8.65% | |
| 8.51% | |
| 8.43% |
What was the yield on each of the last 30 business days?Each business day, newest first
| Date | Par yield |
|---|---|
| 4.99% | |
| 5.00% | |
| 5.00% | |
| 4.96% | |
| 5.13% | |
| 5.12% | |
| 5.15% | |
| 5.09% | |
| 5.10% | |
| 5.19% |
Show 20 more rows
| Date | Par yield |
|---|---|
| 5.21% | |
| 5.24% | |
| 5.22% | |
| 5.28% | |
| 5.27% | |
| 5.31% | |
| 5.28% | |
| 5.24% | |
| 5.29% | |
| 5.26% | |
| 5.24% | |
| 5.17% | |
| 5.18% | |
| 5.11% | |
| 4.96% | |
| 4.96% | |
| 5.01% | |
| 4.94% | |
| 5.01% | |
| 5.00% |
What do these figures leave out, and how are they cited?Limits, dates and how to cite
What this number cannot tell you
- A fitted curve value, not the yield of one security: an outstanding note or bond of about this term trades at its own yield.
- Month-end values hide moves inside the month; the latest days are shown day by day.
Observed .
How to cite this
U.S. Treasury, Daily Treasury Par Yield Curve Rates, 10-year term, through 27 October 2026. Compiled by 500metrics, "What has the 10-year Treasury yield been over time?", https://500metrics.com/treasury/yield-curve/10-year.
Can the data be downloaded?treasury-yield-curve-10-year.csv
Download the full history as CSV: 441 rows, to , 7,066 bytes.
Our text and compilation: CC BY 4.0.
Recession dates from the National Bureau of Economic Research.
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