Rates & Curve
The US Treasury curve from 1 month to 30 years, its shifts over a week, a month and a year, curve spreads, and how the 10-year yield is split between real yield and inflation compensation. Display only: this page casts no regime vote.
Values are read from the terminal's series API, refreshed every 6 hours. JavaScript is required to view live values.
Curve snapshot
Butterfly 2s5s10s = 2 × 5Y − 2Y − 10Y. Positive means the 5-year belly yields more than the average of the 2- and 10-year wings (belly cheap).
10-year yield: real yield and inflation compensation
Change in nominal 10Y = change in real 10Y (TIPS) + change in inflation compensation. Inflation compensation is nominal minus real; it includes inflation risk and TIPS liquidity premia, so it is not a pure inflation expectation.
Data: Board of Governors of the Federal Reserve System, H.15 Selected Interest Rates; Kim-Wright term premium; SOFR (Federal Reserve Bank of New York) and IORB (Board of Governors); US Treasury TIC; all via FRED, Federal Reserve Bank of St. Louis. CFTC Commitments of Traders.