10-year minus 3-month
+89 bpThe 10-year yield is 89 basis points above the 3-month yield.
US bond market dashboard
Read the US Treasury yield curve.
Each point shows the annual yield investors require to lend to the US government for a different length of time. Compare today's curve with earlier dates, then see which part of the market moved and why that matters.
Current curve and earlier markets
See where borrowing costs sit across time.
Use the legend to compare today with one week, one month, three months, one year, two years, five years and ten years ago. On smaller screens, choose “Show all comparisons” to reveal the longer history.
What the curve is saying
How Treasury yields are changing across maturities.
The yield curve is not a forecast in its own right. Its shape shows how the market prices short and long lending periods; the useful information lies in which maturities moved, by how much, and what the rest of the economy was doing at the time.
10-year minus 2-year
+33 bpThis spread compares the market's medium-term policy sensitivity with longer borrowing costs.
Largest yield change over the past month
3-yearThe 3-year yield rose 42 basis points between August 11, 2026 and September 11, 2026.
Start with maturity
Short yields are closely tied to the expected path of Federal Reserve policy. Longer yields also reflect inflation, growth, Treasury supply and the compensation investors require for holding duration.
Read the slope
A rising curve means long yields exceed short yields. An inverted curve means short yields are higher. Neither shape has one fixed meaning, so the direction of the latest move matters.
Compare the dates
A single curve is a snapshot. The historical lines show whether a move is new, a reversal, or part of a longer repricing across the bond market.
Put the move in context
Check the curve against inflation, labor, credit and market volatility before drawing a macro conclusion. Similar shapes can come from very different economic pressures.
Why the curve matters
Bond yields connect policy to the wider economy.
Treasury yields provide a common reference point for mortgages, company borrowing, equity valuations and the dollar. Their movement can tighten or loosen financial conditions before official economic data catches up.
Growth
Falling long yields can reflect weaker growth expectations, easier policy expectations, or both. Rising yields can accompany stronger activity, but they can also restrain demand as borrowing costs increase.
Inflation
Inflation expectations influence longer yields. The cleaner read comes from comparing nominal yields with inflation compensation and real yields, rather than assigning every move to inflation.
Risk appetite
A yield move means more when credit spreads, equities and volatility confirm it. MacroPulse uses those markets to distinguish orderly repricing from broader financial stress.
Inside MacroPulse Advanced
See how the curve changes the investment view.
MacroPulse checks the curve against inflation, credit, market stress and geopolitical risk, then publishes the regime, its asset implications and the evidence that could overturn it. These screens are example captures from the Advanced workspace; the dated assessments inside the product update separately.
Locate today’s growth and inflation pressure, then see the nearest competing regime.
See what the current evidence implies for duration, credit, equities, cash and real assets.
Track which CPI components are moving the nowcast before the official release.
See which conflict theatres matter today and whether markets confirm the pressure.
Read today's regime, allocation view and supporting evidence.
$25/month for launch subscribers · Cancel anytimeTreasury yield curve questions
The essentials, without the bond-market shorthand.
The curve is useful because it compresses many market judgements into one shape. These answers explain what it can tell you, and where its limits begin.
What does each point on the US Treasury yield curve show?
Each point is the annualised yield for lending to the US government over a particular maturity, from a few weeks to 30 years. Reading the points together shows how borrowing costs change across time.
What does an inverted yield curve mean?
An inverted curve has short yields above long yields. It can reflect tight policy and expectations of slower growth or lower future rates, but it is not a timetable or a stand-alone recession forecast.
Why can long-term yields rise while the Federal Reserve holds rates steady?
Longer yields respond to more than the current policy rate. Inflation expectations, real growth, Treasury supply and the compensation investors require for uncertainty can all move the long end independently.
How should the yield curve be used in a macro view?
Start with the curve's shape and recent changes, then compare them with inflation, labor, credit, equities and volatility. Confirmation from the wider market helps distinguish an orderly repricing from broader economic stress.
How current is this Treasury yield data?
The dashboard updates on US Treasury trading days. The latest observation shown here is September 11, 2026.
Why subscribe
Put the curve into an allocation view.
See the current regime, the nearest alternative and the implications for duration, credit, equities, cash and real assets. Each call carries the evidence that supports it and the conditions that would change it.
Every maturity
US Treasury yields on September 11, 2026.
This table carries the same latest curve shown above in a format that can be read without the chart. Values are annualised yields.
Source: US Treasury yield curve methodology
Update cadence: Daily on US Treasury trading days.
Last data update: .
| Maturity | Yield (%) |
|---|---|
| 1-month | 3.93 |
| 6-week | 3.99 |
| 2-month | 4.05 |
| 3-month | 4.07 |
| 4-month | 4.15 |
| 6-month | 4.12 |
| 1-year | 4.35 |
| 2-year | 4.63 |
| 3-year | 4.69 |
| 5-year | 4.78 |
| 7-year | 4.87 |
| 10-year | 4.96 |
| 20-year | 5.38 |
| 30-year | 5.35 |