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Par yield curve, constant maturity: 3-year

What has the 3-year Treasury yield been over time?

On , Treasury's 3-year par yield was 4.80%, 1 basis point higher than the day before and 130 basis points higher than a year earlier.

The 3-year par yield on the last business day of each month

441 month-ends since 31 Jan 1990Held by day since 2 Jan 1990

The 3-year par yield on the last business day of each month, 31 Jan 1990 to 30 Sep 2026, recessions shaded
The 3-year par yield on the last business day of each month, 30 Sep 2016 to 30 Sep 2026, recessions shaded
The 3-year par yield on the last business day of each month, 30 Sep 2024 to 30 Sep 2026

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 3-year par yield each business day

The last 30 business days

The 3-year par yield each business day, 15 Sep 2026 to 27 Oct 2026

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.

DayLatestThe day beforeA year earlierFive years earlierTen years earlier
Date
Par yield4.80%4.79%3.61%0.53%0.88%

The table scrolls sideways; the first column stays in place.

Observed .

Right now

The 3-year par yield was 4.80% on , 130 basis points higher than a year earlier.

The 3-year par yield ended September 2026 at 5.00%, its highest month-end since June 2006.

ChangeOurs

PeriodThenChange
One month4.40%, the yield at the end of +0.60 percentage points
Three months4.15%, the yield at the end of +0.85 percentage points
Twelve months3.61%, the yield at the end of +1.39 percentage points
Five years0.53%, the yield at the end of +4.47 percentage points
Ten years0.88%, the yield at the end of +4.12 percentage points

In historyOurs

The 3-year par yield of 5.00% at the end of was higher than in 329 of the 440 other month-ends since , the same in 0 and lower in 111.

Highest since : 9.05% at the end of . Lowest since : 0.11% at the end of .

AverageOurs

Average since : 3.419% (ours, a plain mean of the 441 month-ends).

Its 52-week rangeOurs, from Treasury's curve

From 3.39% on to 5.01% on .

4.80%

Low 3.39% Midpoint 4.200% High 5.01%

See every month-end

Its five-year rangeMonth-ends, ours

Over the last five years of month-ends it ran from 0.75% on to 5.00% on ; the reading of 4.80% is 95.3% of the way from the low to the high.

4.80%

Low 0.75% Midpoint 2.875% High 5.00%

The 3-year par yield, change from one month-end to the next, by year

Basis points, ours, from the month-end par yieldsWhole year: the last month-end less the one before the year

YearJanFebMarAprMayJunJulAugSepOctNovDecWhole year
2026+5−21+42+10+15+9+19+6+60–––+145
20250−28−10−31+29−19+21−31+3−1−11+6−72
2024+4+38−3+47−18−17−42−31−21+54−2+17+26
2023−32+61−70−6+29+45+2+3+26+10−42−47−21
2022+42+23+83+42−16+28−16+63+79+20−32+9+325
2021+2+11+50−5+16−11+5+13+22+6+16+80
2020−32−45−56−5−5−1−7+4+1+30−2−145
2019−3+7−29+3−34−19+13−42+14−4+9+1−84
2018+31+13−3+23−8+9+14−7+18+5−10−37+48
2017−1+3+1−5−1+11−4−7+18+11+17+8+51
2016−34−6−4+5+11−32+5+16−4+12+40+7+16
2015−33+24−12+2+3+7−1+7−15+13+19+7+21
2014−90+21−3−8+9+14−8+13−12−7+22+32
2013+6−60−4+20+14−5+18−16−6−1+22+42
2012−6+13+8−13−3+6−110+1+7−4+20
Average−4.0+5.8−1.8+4.3+0.6+4.4−0.6−0.3+12.7+9.6−1.3+2.2–

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 42 and over; the last column has a scale of its own, up to 145 and over. Every chip prints its figure and sign. A year still running is counted through its last month: .

Observed .

Understanding the 3-year par yield

Where it stands today

The 3-year par yield was 4.80% on .

What does this chart measure?

The 3-year par yield is the coupon rate at which a new 3-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
3-year par yield at each month-end, newest first (%)
Month-endPar yield
5.00%
4.40%
4.34%
4.15%
4.06%
3.91%
3.81%
3.39%
3.60%
3.55%
3.49%
3.60%
3.61%
3.58%
3.89%
3.68%
3.87%
3.58%
3.89%
3.99%
4.27%
4.27%
4.10%
4.12%
Show 417 more rows
Month-endPar yield
3.58%
3.79%
4.10%
4.52%
4.69%
4.87%
4.40%
4.43%
4.05%
4.01%
4.48%
4.90%
4.80%
4.54%
4.51%
4.49%
4.04%
3.75%
3.81%
4.51%
3.90%
4.22%
4.13%
4.45%
4.25%
3.46%
2.83%
2.99%
2.71%
2.87%
2.45%
1.62%
1.39%
0.97%
0.81%
0.75%
0.53%
0.40%
0.35%
0.46%
0.30%
0.35%
0.35%
0.30%
0.19%
0.17%
0.19%
0.19%
0.16%
0.15%
0.11%
0.18%
0.19%
0.24%
0.29%
0.85%
1.30%
1.62%
1.61%
1.52%
1.56%
1.42%
1.84%
1.71%
1.90%
2.24%
2.21%
2.50%
2.43%
2.46%
2.83%
2.93%
2.88%
2.70%
2.77%
2.63%
2.54%
2.62%
2.39%
2.42%
2.29%
1.98%
1.90%
1.73%
1.62%
1.44%
1.51%
1.55%
1.44%
1.45%
1.50%
1.49%
1.46%
1.47%
1.40%
1.00%
0.88%
0.92%
0.76%
0.71%
1.03%
0.92%
0.87%
0.91%
0.97%
1.31%
1.24%
1.05%
0.92%
1.07%
1.00%
1.01%
0.94%
0.91%
0.89%
1.01%
0.77%
1.10%
0.88%
0.95%
1.07%
0.94%
1.02%
0.88%
0.79%
0.87%
0.90%
0.69%
0.69%
0.78%
0.56%
0.57%
0.63%
0.79%
0.61%
0.66%
0.52%
0.32%
0.36%
0.36%
0.42%
0.36%
0.34%
0.38%
0.31%
0.30%
0.30%
0.41%
0.35%
0.38%
0.51%
0.43%
0.30%
0.36%
0.41%
0.41%
0.42%
0.33%
0.55%
0.81%
0.79%
1.01%
1.29%
1.18%
0.98%
1.02%
0.72%
0.51%
0.64%
0.72%
0.84%
1.00%
1.26%
1.51%
1.60%
1.36%
1.38%
1.70%
1.12%
1.43%
1.45%
1.49%
1.62%
1.64%
1.42%
1.38%
1.15%
1.40%
1.32%
1.00%
1.27%
1.80%
2.28%
2.60%
2.81%
2.91%
2.93%
2.49%
1.79%
1.87%
2.27%
3.07%
3.09%
3.94%
4.03%
4.16%
4.55%
4.89%
4.88%
4.54%
4.54%
4.55%
4.85%
4.74%
4.52%
4.62%
4.62%
4.71%
4.93%
5.13%
5.03%
4.87%
4.83%
4.67%
4.49%
4.37%
4.41%
4.41%
4.18%
3.83%
4.06%
3.67%
3.65%
3.73%
3.96%
3.75%
3.43%
3.25%
3.29%
2.82%
2.89%
2.75%
3.09%
3.16%
3.10%
2.86%
1.99%
2.13%
2.35%
2.37%
2.56%
2.36%
1.95%
2.51%
2.33%
1.66%
1.58%
1.95%
1.93%
1.91%
2.16%
1.99%
2.51%
2.05%
2.02%
2.50%
2.67%
3.37%
3.73%
3.83%
4.31%
3.64%
3.70%
3.59%
3.30%
2.87%
3.22%
3.91%
4.06%
4.52%
4.49%
4.55%
4.33%
4.48%
4.67%
5.06%
5.52%
5.87%
5.91%
6.09%
6.24%
6.31%
6.66%
6.64%
6.44%
6.58%
6.65%
6.29%
6.05%
5.90%
5.70%
5.82%
5.70%
5.59%
5.51%
5.17%
5.07%
5.16%
4.57%
4.55%
4.54%
4.24%
4.26%
4.85%
5.48%
5.49%
5.54%
5.62%
5.61%
5.55%
5.35%
5.68%
5.80%
5.70%
5.88%
6.10%
5.81%
6.25%
6.37%
6.42%
6.60%
6.23%
6.08%
6.04%
5.70%
5.92%
6.28%
6.54%
6.39%
6.30%
6.44%
6.19%
5.91%
5.56%
5.06%
5.25%
5.41%
5.70%
5.91%
5.95%
6.02%
5.88%
5.95%
6.72%
6.92%
6.90%
7.39%
7.80%
7.62%
7.10%
6.92%
6.44%
6.33%
6.52%
6.36%
6.16%
5.66%
5.04%
4.44%
4.58%
4.55%
4.30%
4.24%
4.20%
4.50%
4.39%
4.63%
4.30%
4.42%
4.37%
4.72%
5.12%
5.36%
4.98%
4.34%
4.69%
4.97%
5.39%
5.75%
6.05%
6.17%
5.75%
5.65%
5.11%
5.76%
6.06%
6.28%
6.68%
7.21%
7.33%
7.10%
7.15%
7.30%
7.26%
7.30%
7.40%
7.67%
7.97%
8.19%
8.26%
8.04%
8.32%
8.53%
9.05%
8.69%
8.45%
8.36%
What was the yield on each of the last 30 business days?Each business day, newest first
3-year par yield each business day, newest first (%)
DatePar yield
4.80%
4.79%
4.75%
4.72%
4.89%
4.86%
4.85%
4.82%
4.85%
4.92%
Show 20 more rows
DatePar yield
4.90%
4.89%
4.85%
4.87%
4.88%
4.97%
4.96%
4.91%
5.00%
4.98%
5.01%
4.94%
4.99%
4.97%
4.81%
4.82%
4.83%
4.75%
4.82%
4.76%
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, 3-year term, through 27 October 2026. Compiled by 500metrics, "What has the 3-year Treasury yield been over time?", https://500metrics.com/treasury/yield-curve/3-year.

Can the data be downloaded?treasury-yield-curve-3-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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