Par yield curve, constant maturity: 6-month
What has the 6-month Treasury yield been over time?
On , Treasury's 6-month par yield was 4.34%, 1 basis point lower than the day before and 61 basis points higher than a year earlier.
The 6-month 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 6-month 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 | 4.34% | 4.35% | 3.83% | 0.05% | 0.45% |
The table scrolls sideways; the first column stays in place.
Observed .
Right now
The 6-month par yield was 4.34% on , 61 basis points higher than a year earlier.
The 6-month par yield ended September 2026 at 4.33%, its highest month-end since May 2025.
ChangeOurs
| Period | Then | Change |
|---|---|---|
| One month | 3.99%, the yield at the end of | +0.34 percentage points |
| Three months | 4.01%, the yield at the end of | +0.32 percentage points |
| Twelve months | 3.83%, the yield at the end of | +0.50 percentage points |
| Five years | 0.05%, the yield at the end of | +4.28 percentage points |
| Ten years | 0.45%, the yield at the end of | +3.88 percentage points |
In historyOurs
The 6-month par yield of 4.33% at the end of was higher than in 287 of the 440 other month-ends since , the same in 0 and lower in 153.
Highest since : 8.44% at the end of . Lowest since : 0.03% at the end of .
AverageOurs
Average since : 2.920% (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 0.07% on to 5.54% on ; the reading of 4.34% is 78.1% of the way from the low to the high.
Low 0.07% Midpoint 2.805% High 5.54%
The 6-month 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 | +2 | −1 | +12 | −1 | +7 | +23 | −3 | +1 | +34 | – | – | – | +74 |
| 2025 | +4 | −3 | −2 | −4 | +17 | −7 | +2 | −30 | −18 | −4 | −5 | −15 | −65 |
| 2024 | −8 | +12 | +8 | +6 | −2 | −9 | −19 | −25 | −51 | +5 | −1 | −18 | −102 |
| 2023 | +4 | +37 | −23 | +12 | +40 | +1 | +6 | −5 | +5 | +1 | −16 | −12 | +50 |
| 2022 | +30 | +20 | +37 | +35 | +23 | +87 | +40 | +41 | +60 | +65 | +13 | +6 | +457 |
| 2021 | −2 | −2 | 0 | −2 | 0 | +3 | −1 | +1 | −1 | +2 | +3 | +9 | +10 |
| 2020 | −6 | −43 | −96 | −4 | +7 | 0 | −8 | +3 | −2 | 0 | −2 | 0 | −151 |
| 2019 | −10 | +4 | −6 | +2 | −11 | −26 | +1 | −21 | −6 | −26 | +6 | −3 | −96 |
| 2018 | +13 | +20 | +7 | +11 | +4 | +3 | +10 | +7 | +8 | +13 | +3 | +4 | +103 |
| 2017 | +2 | +5 | +22 | +8 | +9 | +6 | −1 | −5 | +12 | +8 | +16 | +9 | +91 |
| 2016 | −6 | +6 | −10 | +1 | +9 | −13 | +2 | +9 | −2 | +6 | +11 | 0 | +13 |
| 2015 | −5 | 0 | +7 | −8 | 0 | +5 | +3 | +13 | −19 | +15 | +19 | +7 | +37 |
| 2014 | −4 | +2 | −1 | −2 | +1 | +1 | −2 | 0 | −2 | +2 | +2 | +5 | +2 |
| 2013 | +1 | +1 | −2 | −2 | −2 | +3 | −2 | −3 | −1 | +4 | +3 | −1 | −1 |
| 2012 | +2 | +5 | +2 | 0 | −1 | +2 | −2 | 0 | 0 | +2 | −3 | −2 | +5 |
| Average | +1.1 | +4.2 | −3.0 | +3.5 | +6.7 | +5.3 | +1.7 | −0.9 | +1.1 | +6.6 | +3.5 | −0.8 | – |
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 26 and over; the last column has a scale of its own, up to 151 and over. Every chip prints its figure and sign. A year still running is counted through its last month: .
Observed .
Understanding the 6-month par yield
Where it stands today
The 6-month par yield was 4.34% on .
What does this chart measure?
The 6-month par yield is the coupon rate at which a new 6-month 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 |
|---|---|
| 4.33% | |
| 3.99% | |
| 3.98% | |
| 4.01% | |
| 3.78% | |
| 3.71% | |
| 3.72% | |
| 3.60% | |
| 3.61% | |
| 3.59% | |
| 3.74% | |
| 3.79% | |
| 3.83% | |
| 4.01% | |
| 4.31% | |
| 4.29% | |
| 4.36% | |
| 4.19% | |
| 4.23% | |
| 4.25% | |
| 4.28% | |
| 4.24% | |
| 4.42% | |
| 4.43% |
Show 417 more rows
| Month-end | Par yield |
|---|---|
| 4.38% | |
| 4.89% | |
| 5.14% | |
| 5.33% | |
| 5.42% | |
| 5.44% | |
| 5.38% | |
| 5.30% | |
| 5.18% | |
| 5.26% | |
| 5.38% | |
| 5.54% | |
| 5.53% | |
| 5.48% | |
| 5.53% | |
| 5.47% | |
| 5.46% | |
| 5.06% | |
| 4.94% | |
| 5.17% | |
| 4.80% | |
| 4.76% | |
| 4.70% | |
| 4.57% | |
| 3.92% | |
| 3.32% | |
| 2.91% | |
| 2.51% | |
| 1.64% | |
| 1.41% | |
| 1.06% | |
| 0.69% | |
| 0.49% | |
| 0.19% | |
| 0.10% | |
| 0.07% | |
| 0.05% | |
| 0.06% | |
| 0.05% | |
| 0.06% | |
| 0.03% | |
| 0.03% | |
| 0.05% | |
| 0.05% | |
| 0.07% | |
| 0.09% | |
| 0.09% | |
| 0.11% | |
| 0.11% | |
| 0.13% | |
| 0.10% | |
| 0.18% | |
| 0.18% | |
| 0.11% | |
| 0.15% | |
| 1.11% | |
| 1.54% | |
| 1.60% | |
| 1.63% | |
| 1.57% | |
| 1.83% | |
| 1.89% | |
| 2.10% | |
| 2.09% | |
| 2.35% | |
| 2.46% | |
| 2.44% | |
| 2.50% | |
| 2.46% | |
| 2.56% | |
| 2.52% | |
| 2.49% | |
| 2.36% | |
| 2.28% | |
| 2.21% | |
| 2.11% | |
| 2.08% | |
| 2.04% | |
| 1.93% | |
| 1.86% | |
| 1.66% | |
| 1.53% | |
| 1.44% | |
| 1.28% | |
| 1.20% | |
| 1.08% | |
| 1.13% | |
| 1.14% | |
| 1.08% | |
| 0.99% | |
| 0.91% | |
| 0.69% | |
| 0.64% | |
| 0.62% | |
| 0.62% | |
| 0.51% | |
| 0.45% | |
| 0.47% | |
| 0.38% | |
| 0.36% | |
| 0.49% | |
| 0.40% | |
| 0.39% | |
| 0.49% | |
| 0.43% | |
| 0.49% | |
| 0.42% | |
| 0.23% | |
| 0.08% | |
| 0.27% | |
| 0.14% | |
| 0.11% | |
| 0.06% | |
| 0.06% | |
| 0.14% | |
| 0.07% | |
| 0.07% | |
| 0.12% | |
| 0.07% | |
| 0.05% | |
| 0.03% | |
| 0.05% | |
| 0.05% | |
| 0.07% | |
| 0.06% | |
| 0.05% | |
| 0.07% | |
| 0.08% | |
| 0.06% | |
| 0.10% | |
| 0.11% | |
| 0.08% | |
| 0.04% | |
| 0.05% | |
| 0.08% | |
| 0.10% | |
| 0.07% | |
| 0.09% | |
| 0.11% | |
| 0.13% | |
| 0.12% | |
| 0.11% | |
| 0.13% | |
| 0.16% | |
| 0.14% | |
| 0.14% | |
| 0.14% | |
| 0.16% | |
| 0.14% | |
| 0.15% | |
| 0.15% | |
| 0.13% | |
| 0.08% | |
| 0.06% | |
| 0.06% | |
| 0.06% | |
| 0.06% | |
| 0.05% | |
| 0.16% | |
| 0.10% | |
| 0.12% | |
| 0.11% | |
| 0.17% | |
| 0.18% | |
| 0.17% | |
| 0.19% | |
| 0.21% | |
| 0.17% | |
| 0.19% | |
| 0.19% | |
| 0.20% | |
| 0.22% | |
| 0.22% | |
| 0.25% | |
| 0.24% | |
| 0.19% | |
| 0.15% | |
| 0.20% | |
| 0.15% | |
| 0.16% | |
| 0.18% | |
| 0.24% | |
| 0.26% | |
| 0.35% | |
| 0.30% | |
| 0.29% | |
| 0.43% | |
| 0.45% | |
| 0.36% | |
| 0.27% | |
| 0.44% | |
| 0.94% | |
| 1.60% | |
| 1.97% | |
| 1.89% | |
| 2.17% | |
| 2.01% | |
| 1.64% | |
| 1.51% | |
| 1.83% | |
| 2.07% | |
| 3.49% | |
| 3.37% | |
| 4.09% | |
| 4.09% | |
| 4.21% | |
| 4.99% | |
| 4.93% | |
| 4.96% | |
| 5.03% | |
| 5.06% | |
| 5.12% | |
| 5.16% | |
| 5.09% | |
| 5.10% | |
| 5.13% | |
| 5.02% | |
| 5.11% | |
| 5.18% | |
| 5.24% | |
| 5.08% | |
| 4.91% | |
| 4.81% | |
| 4.74% | |
| 4.59% | |
| 4.37% | |
| 4.31% | |
| 4.26% | |
| 3.93% | |
| 3.74% | |
| 3.69% | |
| 3.34% | |
| 3.18% | |
| 3.17% | |
| 3.13% | |
| 3.01% | |
| 2.79% | |
| 2.59% | |
| 2.44% | |
| 2.13% | |
| 2.00% | |
| 1.79% | |
| 1.77% | |
| 1.68% | |
| 1.39% | |
| 1.17% | |
| 1.01% | |
| 1.01% | |
| 1.01% | |
| 1.02% | |
| 1.04% | |
| 1.04% | |
| 1.01% | |
| 1.06% | |
| 1.02% | |
| 0.98% | |
| 1.09% | |
| 1.15% | |
| 1.13% | |
| 1.19% | |
| 1.19% | |
| 1.23% | |
| 1.30% | |
| 1.43% | |
| 1.51% | |
| 1.67% | |
| 1.70% | |
| 1.75% | |
| 1.91% | |
| 1.91% | |
| 2.12% | |
| 1.87% | |
| 1.89% | |
| 1.83% | |
| 1.79% | |
| 1.95% | |
| 2.36% | |
| 3.31% | |
| 3.47% | |
| 3.63% | |
| 3.59% | |
| 3.97% | |
| 4.09% | |
| 4.70% | |
| 4.83% | |
| 5.70% | |
| 6.18% | |
| 6.36% | |
| 6.28% | |
| 6.38% | |
| 6.42% | |
| 6.23% | |
| 6.35% | |
| 6.12% | |
| 6.15% | |
| 6.02% | |
| 5.97% | |
| 5.74% | |
| 5.57% | |
| 5.28% | |
| 4.99% | |
| 5.21% | |
| 4.85% | |
| 5.04% | |
| 4.83% | |
| 4.66% | |
| 4.53% | |
| 4.70% | |
| 4.47% | |
| 4.55% | |
| 4.58% | |
| 4.36% | |
| 4.49% | |
| 5.03% | |
| 5.21% | |
| 5.24% | |
| 5.33% | |
| 5.24% | |
| 5.27% | |
| 5.33% | |
| 5.24% | |
| 5.45% | |
| 5.43% | |
| 5.32% | |
| 5.28% | |
| 5.39% | |
| 5.33% | |
| 5.34% | |
| 5.46% | |
| 5.53% | |
| 5.55% | |
| 5.39% | |
| 5.28% | |
| 5.33% | |
| 5.25% | |
| 5.30% | |
| 5.37% | |
| 5.49% | |
| 5.47% | |
| 5.37% | |
| 5.36% | |
| 5.30% | |
| 5.20% | |
| 5.05% | |
| 4.97% | |
| 5.17% | |
| 5.46% | |
| 5.55% | |
| 5.57% | |
| 5.53% | |
| 5.63% | |
| 5.59% | |
| 5.83% | |
| 6.08% | |
| 6.13% | |
| 6.19% | |
| 6.40% | |
| 6.51% | |
| 6.22% | |
| 5.72% | |
| 5.43% | |
| 5.03% | |
| 4.87% | |
| 4.83% | |
| 4.87% | |
| 4.45% | |
| 3.92% | |
| 3.72% | |
| 3.25% | |
| 3.30% | |
| 3.40% | |
| 3.28% | |
| 3.13% | |
| 3.21% | |
| 3.28% | |
| 3.22% | |
| 3.32% | |
| 3.07% | |
| 3.09% | |
| 3.14% | |
| 3.16% | |
| 3.38% | |
| 3.58% | |
| 3.29% | |
| 2.92% | |
| 3.35% | |
| 3.38% | |
| 3.77% | |
| 3.96% | |
| 3.97% | |
| 4.32% | |
| 4.14% | |
| 4.07% | |
| 4.00% | |
| 4.57% | |
| 5.03% | |
| 5.34% | |
| 5.60% | |
| 5.93% | |
| 5.95% | |
| 5.94% | |
| 5.83% | |
| 6.05% | |
| 6.32% | |
| 6.49% | |
| 6.73% | |
| 7.36% | |
| 7.46% | |
| 7.54% | |
| 7.74% | |
| 7.72% | |
| 8.02% | |
| 8.12% | |
| 8.44% | |
| 8.24% | |
| 8.14% | |
| 8.13% |
What was the yield on each of the last 30 business days?Each business day, newest first
| Date | Par yield |
|---|---|
| 4.34% | |
| 4.35% | |
| 4.30% | |
| 4.29% | |
| 4.35% | |
| 4.36% | |
| 4.37% | |
| 4.34% | |
| 4.35% | |
| 4.37% |
Show 20 more rows
| Date | Par yield |
|---|---|
| 4.34% | |
| 4.32% | |
| 4.30% | |
| 4.28% | |
| 4.28% | |
| 4.30% | |
| 4.27% | |
| 4.27% | |
| 4.33% | |
| 4.36% | |
| 4.41% | |
| 4.33% | |
| 4.34% | |
| 4.31% | |
| 4.26% | |
| 4.27% | |
| 4.24% | |
| 4.20% | |
| 4.22% | |
| 4.17% |
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, 6-month term, through 27 October 2026. Compiled by 500metrics, "What has the 6-month Treasury yield been over time?", https://500metrics.com/treasury/yield-curve/6-month.
Can the data be downloaded?treasury-yield-curve-6-month.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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