Par yield curve, constant maturity: 5-year
What has the 5-year Treasury yield been over time?
On , Treasury's 5-year par yield was 4.82%, 2 basis points lower than the day before and 121 basis points higher than a year earlier.
The 5-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 5-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 | 4.82% | 4.84% | 3.74% | 0.98% | 1.14% |
The table scrolls sideways; the first column stays in place.
Observed .
Right now
The 5-year par yield was 4.82% on , 121 basis points higher than a year earlier.
The 5-year par yield ended September 2026 at 5.09%, its highest month-end since June 2006.
ChangeOurs
| Period | Then | Change |
|---|---|---|
| One month | 4.49%, the yield at the end of | +0.60 percentage points |
| Three months | 4.19%, the yield at the end of | +0.90 percentage points |
| Twelve months | 3.74%, the yield at the end of | +1.35 percentage points |
| Five years | 0.98%, the yield at the end of | +4.11 percentage points |
| Ten years | 1.14%, the yield at the end of | +3.95 percentage points |
In historyOurs
The 5-year par yield of 5.09% at the end of was higher than in 319 of the 440 other month-ends since , the same in 0 and lower in 121.
Highest since : 9.04% at the end of . Lowest since : 0.21% at the end of .
AverageOurs
Average since : 3.753% (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 1.14% on to 5.09% on ; the reading of 4.82% is 93.2% of the way from the low to the high.
Low 1.14% Midpoint 3.115% High 5.09%
The 5-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 | +6 | −28 | +41 | +10 | +11 | +6 | +26 | +4 | +60 | – | – | – | +136 |
| 2025 | −2 | −33 | −7 | −24 | +24 | −17 | +17 | −28 | +6 | −3 | −12 | +14 | −65 |
| 2024 | +7 | +35 | −5 | +51 | −20 | −19 | −36 | −26 | −13 | +57 | −10 | +33 | +54 |
| 2023 | −36 | +55 | −58 | −9 | +23 | +39 | +5 | +5 | +37 | +22 | −51 | −47 | −15 |
| 2022 | +36 | +9 | +71 | +50 | −11 | +20 | −31 | +60 | +76 | +21 | −45 | +17 | +273 |
| 2021 | +9 | +30 | +17 | −6 | −7 | +8 | −18 | +8 | +21 | +20 | −4 | +12 | +90 |
| 2020 | −37 | −43 | −52 | −1 | −6 | −1 | −8 | +7 | 0 | +10 | −2 | 0 | −133 |
| 2019 | −8 | +9 | −29 | +5 | −35 | −17 | +8 | −45 | +16 | −4 | +11 | +7 | −82 |
| 2018 | +32 | +13 | −9 | +23 | −11 | +5 | +12 | −11 | +20 | +4 | −14 | −33 | +31 |
| 2017 | −3 | −1 | +4 | −12 | −6 | +14 | −5 | −14 | +22 | +9 | +13 | +6 | +27 |
| 2016 | −43 | −11 | −1 | +7 | +9 | −36 | +2 | +16 | −5 | +17 | +52 | +10 | +17 |
| 2015 | −47 | +32 | −13 | +6 | +6 | +14 | −9 | 0 | −17 | +15 | +13 | +11 | +11 |
| 2014 | −26 | +2 | +22 | −4 | −15 | +8 | +14 | −13 | +15 | −16 | −13 | +16 | −10 |
| 2013 | +16 | −11 | 0 | −9 | +37 | +36 | −3 | +24 | −23 | −8 | +6 | +38 | +103 |
| 2012 | −12 | +16 | +17 | −22 | −15 | +5 | −12 | −1 | +3 | +10 | −11 | +11 | −11 |
| Average | −7.2 | +4.9 | −0.1 | +4.3 | −1.1 | +4.3 | −2.5 | −0.9 | +14.5 | +11.0 | −4.8 | +6.8 | – |
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 43 and over; the last column has a scale of its own, up to 136 and over. Every chip prints its figure and sign. A year still running is counted through its last month: .
Observed .
Understanding the 5-year par yield
Where it stands today
The 5-year par yield was 4.82% on .
What does this chart measure?
The 5-year par yield is the coupon rate at which a new 5-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 |
|---|---|
| 5.09% | |
| 4.49% | |
| 4.45% | |
| 4.19% | |
| 4.13% | |
| 4.02% | |
| 3.92% | |
| 3.51% | |
| 3.79% | |
| 3.73% | |
| 3.59% | |
| 3.71% | |
| 3.74% | |
| 3.68% | |
| 3.96% | |
| 3.79% | |
| 3.96% | |
| 3.72% | |
| 3.96% | |
| 4.03% | |
| 4.36% | |
| 4.38% | |
| 4.05% | |
| 4.15% |
Show 417 more rows
| Month-end | Par yield |
|---|---|
| 3.58% | |
| 3.71% | |
| 3.97% | |
| 4.33% | |
| 4.52% | |
| 4.72% | |
| 4.21% | |
| 4.26% | |
| 3.91% | |
| 3.84% | |
| 4.31% | |
| 4.82% | |
| 4.60% | |
| 4.23% | |
| 4.18% | |
| 4.13% | |
| 3.74% | |
| 3.51% | |
| 3.60% | |
| 4.18% | |
| 3.63% | |
| 3.99% | |
| 3.82% | |
| 4.27% | |
| 4.06% | |
| 3.30% | |
| 2.70% | |
| 3.01% | |
| 2.81% | |
| 2.92% | |
| 2.42% | |
| 1.71% | |
| 1.62% | |
| 1.26% | |
| 1.14% | |
| 1.18% | |
| 0.98% | |
| 0.77% | |
| 0.69% | |
| 0.87% | |
| 0.79% | |
| 0.86% | |
| 0.92% | |
| 0.75% | |
| 0.45% | |
| 0.36% | |
| 0.36% | |
| 0.38% | |
| 0.28% | |
| 0.28% | |
| 0.21% | |
| 0.29% | |
| 0.30% | |
| 0.36% | |
| 0.37% | |
| 0.89% | |
| 1.32% | |
| 1.69% | |
| 1.62% | |
| 1.51% | |
| 1.55% | |
| 1.39% | |
| 1.84% | |
| 1.76% | |
| 1.93% | |
| 2.28% | |
| 2.23% | |
| 2.52% | |
| 2.43% | |
| 2.51% | |
| 2.84% | |
| 2.98% | |
| 2.94% | |
| 2.74% | |
| 2.85% | |
| 2.73% | |
| 2.68% | |
| 2.79% | |
| 2.56% | |
| 2.65% | |
| 2.52% | |
| 2.20% | |
| 2.14% | |
| 2.01% | |
| 1.92% | |
| 1.70% | |
| 1.84% | |
| 1.89% | |
| 1.75% | |
| 1.81% | |
| 1.93% | |
| 1.89% | |
| 1.90% | |
| 1.93% | |
| 1.83% | |
| 1.31% | |
| 1.14% | |
| 1.19% | |
| 1.03% | |
| 1.01% | |
| 1.37% | |
| 1.28% | |
| 1.21% | |
| 1.22% | |
| 1.33% | |
| 1.76% | |
| 1.65% | |
| 1.52% | |
| 1.37% | |
| 1.54% | |
| 1.54% | |
| 1.63% | |
| 1.49% | |
| 1.43% | |
| 1.37% | |
| 1.50% | |
| 1.18% | |
| 1.65% | |
| 1.49% | |
| 1.62% | |
| 1.78% | |
| 1.63% | |
| 1.76% | |
| 1.62% | |
| 1.54% | |
| 1.69% | |
| 1.73% | |
| 1.51% | |
| 1.49% | |
| 1.75% | |
| 1.37% | |
| 1.31% | |
| 1.39% | |
| 1.62% | |
| 1.38% | |
| 1.41% | |
| 1.05% | |
| 0.68% | |
| 0.77% | |
| 0.77% | |
| 0.88% | |
| 0.72% | |
| 0.61% | |
| 0.72% | |
| 0.62% | |
| 0.59% | |
| 0.60% | |
| 0.72% | |
| 0.67% | |
| 0.82% | |
| 1.04% | |
| 0.87% | |
| 0.71% | |
| 0.83% | |
| 0.96% | |
| 0.99% | |
| 0.96% | |
| 0.96% | |
| 1.35% | |
| 1.76% | |
| 1.68% | |
| 1.97% | |
| 2.24% | |
| 2.13% | |
| 1.95% | |
| 2.01% | |
| 1.47% | |
| 1.17% | |
| 1.27% | |
| 1.33% | |
| 1.60% | |
| 1.79% | |
| 2.10% | |
| 2.43% | |
| 2.55% | |
| 2.30% | |
| 2.34% | |
| 2.69% | |
| 2.01% | |
| 2.31% | |
| 2.31% | |
| 2.39% | |
| 2.53% | |
| 2.54% | |
| 2.34% | |
| 2.02% | |
| 1.67% | |
| 1.99% | |
| 1.85% | |
| 1.55% | |
| 1.93% | |
| 2.80% | |
| 2.98% | |
| 3.10% | |
| 3.25% | |
| 3.34% | |
| 3.41% | |
| 3.03% | |
| 2.46% | |
| 2.50% | |
| 2.82% | |
| 3.45% | |
| 3.41% | |
| 4.16% | |
| 4.23% | |
| 4.25% | |
| 4.60% | |
| 4.92% | |
| 4.86% | |
| 4.51% | |
| 4.54% | |
| 4.52% | |
| 4.82% | |
| 4.70% | |
| 4.45% | |
| 4.57% | |
| 4.59% | |
| 4.70% | |
| 4.91% | |
| 5.10% | |
| 5.04% | |
| 4.92% | |
| 4.82% | |
| 4.61% | |
| 4.47% | |
| 4.35% | |
| 4.42% | |
| 4.45% | |
| 4.18% | |
| 3.87% | |
| 4.12% | |
| 3.72% | |
| 3.76% | |
| 3.90% | |
| 4.18% | |
| 4.00% | |
| 3.71% | |
| 3.63% | |
| 3.72% | |
| 3.30% | |
| 3.38% | |
| 3.33% | |
| 3.71% | |
| 3.81% | |
| 3.81% | |
| 3.63% | |
| 2.80% | |
| 3.01% | |
| 3.17% | |
| 3.25% | |
| 3.38% | |
| 3.27% | |
| 2.85% | |
| 3.46% | |
| 3.38% | |
| 2.46% | |
| 2.30% | |
| 2.85% | |
| 2.78% | |
| 2.69% | |
| 3.02% | |
| 2.78% | |
| 3.28% | |
| 2.81% | |
| 2.63% | |
| 3.22% | |
| 3.53% | |
| 4.09% | |
| 4.37% | |
| 4.53% | |
| 4.91% | |
| 4.27% | |
| 4.42% | |
| 4.38% | |
| 4.08% | |
| 3.66% | |
| 3.93% | |
| 4.46% | |
| 4.57% | |
| 4.97% | |
| 4.94% | |
| 4.97% | |
| 4.62% | |
| 4.70% | |
| 4.85% | |
| 4.99% | |
| 5.42% | |
| 5.83% | |
| 5.85% | |
| 5.98% | |
| 6.16% | |
| 6.18% | |
| 6.54% | |
| 6.56% | |
| 6.32% | |
| 6.61% | |
| 6.71% | |
| 6.36% | |
| 6.11% | |
| 5.97% | |
| 5.78% | |
| 5.88% | |
| 5.82% | |
| 5.67% | |
| 5.60% | |
| 5.24% | |
| 5.12% | |
| 5.21% | |
| 4.55% | |
| 4.56% | |
| 4.51% | |
| 4.24% | |
| 4.23% | |
| 4.91% | |
| 5.52% | |
| 5.47% | |
| 5.56% | |
| 5.65% | |
| 5.64% | |
| 5.59% | |
| 5.39% | |
| 5.71% | |
| 5.83% | |
| 5.72% | |
| 6.00% | |
| 6.22% | |
| 5.90% | |
| 6.40% | |
| 6.51% | |
| 6.57% | |
| 6.77% | |
| 6.39% | |
| 6.26% | |
| 6.21% | |
| 5.84% | |
| 6.10% | |
| 6.46% | |
| 6.73% | |
| 6.57% | |
| 6.47% | |
| 6.64% | |
| 6.40% | |
| 6.10% | |
| 5.73% | |
| 5.25% | |
| 5.38% | |
| 5.53% | |
| 5.81% | |
| 6.01% | |
| 6.07% | |
| 6.16% | |
| 5.98% | |
| 6.08% | |
| 6.88% | |
| 7.08% | |
| 7.06% | |
| 7.54% | |
| 7.83% | |
| 7.79% | |
| 7.48% | |
| 7.28% | |
| 6.81% | |
| 6.73% | |
| 6.97% | |
| 6.77% | |
| 6.64% | |
| 6.23% | |
| 5.60% | |
| 5.02% | |
| 5.21% | |
| 5.15% | |
| 4.83% | |
| 4.79% | |
| 4.80% | |
| 5.16% | |
| 5.05% | |
| 5.37% | |
| 5.14% | |
| 5.24% | |
| 5.21% | |
| 5.57% | |
| 6.04% | |
| 6.23% | |
| 5.90% | |
| 5.33% | |
| 5.60% | |
| 5.84% | |
| 6.29% | |
| 6.61% | |
| 6.91% | |
| 6.94% | |
| 6.58% | |
| 6.44% | |
| 5.93% | |
| 6.48% | |
| 6.74% | |
| 6.92% | |
| 7.34% | |
| 7.77% | |
| 7.90% | |
| 7.69% | |
| 7.63% | |
| 7.73% | |
| 7.66% | |
| 7.62% | |
| 7.68% | |
| 7.91% | |
| 8.24% | |
| 8.47% | |
| 8.50% | |
| 8.13% | |
| 8.35% | |
| 8.56% | |
| 9.04% | |
| 8.65% | |
| 8.44% | |
| 8.35% |
What was the yield on each of the last 30 business days?Each business day, newest first
| Date | Par yield |
|---|---|
| 4.82% | |
| 4.84% | |
| 4.82% | |
| 4.78% | |
| 4.95% | |
| 4.94% | |
| 4.94% | |
| 4.89% | |
| 4.91% | |
| 5.00% |
Show 20 more rows
| Date | Par yield |
|---|---|
| 5.00% | |
| 5.02% | |
| 4.99% | |
| 5.03% | |
| 5.03% | |
| 5.06% | |
| 5.06% | |
| 5.01% | |
| 5.09% | |
| 5.06% | |
| 5.06% | |
| 4.98% | |
| 5.03% | |
| 4.99% | |
| 4.83% | |
| 4.83% | |
| 4.86% | |
| 4.78% | |
| 4.86% | |
| 4.83% |
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, 5-year term, through 27 October 2026. Compiled by 500metrics, "What has the 5-year Treasury yield been over time?", https://500metrics.com/treasury/yield-curve/5-year.
Can the data be downloaded?treasury-yield-curve-5-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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