Yield curve
U.S. Treasury yields across maturities, from the Treasury's own daily par yield curve.
The nominal curve runs from 1990 and the real (inflation-protected) curve from 2003. Spreads such as 2s10s are differences between two maturities on the same day.
How to read it
Normally longer maturities yield more and the curve slopes up. An inverted curve — short yields above long — has preceded most U.S. recessions, usually by many months.
How to use it
Read the level for the cost of money and the slope for the market's view of growth and policy ahead.
Limitations
End-of-day data the Treasury publishes each business afternoon, not live quotes. Gaps stay gaps: the 30-year was not issued from February 2002 to February 2006 and is not drawn there.
In Kereon
Charts · Yield Curve. The Daily Treasury Par Yield Curve and Par Real Yield Curve, never interpolated across a missing maturity.
Market · Pulse. US 2Y and 2s10s come from the same Treasury row.
Also called: treasury curve, par yield, real yield, tips, rates, us 2y, treasury yields.