Nominal Yields · Change · 10Y 5.28% — Steepener

The read

Nominal · Change · 2 Oct 2026

on the month +49bp

10Y

5.28%

2s10s on the month

+5bp

rank · 5y

99th

Change subtracts an earlier yield from a later one and prints the gap in basis points.

Nominal Yields change over one day to 2 Oct 2026: 14 maturities moved between −2bp and +5bp, with 2Y and 10Y averaging +5bp.

The par yield curve across every Treasury maturity, from 1-month bills to 30-year bonds: what people mean by the Treasury yield curve.

Angles

• Volatility · 10Y moved +4bp today against a typical day of 5.3bp · the last 21 sessions placed by size, never by date; the band is one typical day
• Curve · 4.04% at the 1M rising to a high of 5.67% at the 20Y · level bars, shaded by five-year rank; the headline maturity is outlined
• Moves · On the month the 5Y moved most, +52bp; on the year the 5Y, +132bp · signed change in bp, each row shaded against its own horizon; amber rose, blue fell
• Spread · 2s10s at +45bp, 69th percentile of five years · box is the middle half, tick the median, dotted line is zero

How to read this

What it is

Change subtracts an earlier yield from a later one and prints the gap in basis points. Whichever window you set, the arithmetic underneath is that one subtraction.

How to read the chart

Above the zero rule the yield rose over your chosen window, below it fell. The scale is basis points, not percent.

One maturity moving alone reprices that stretch by itself. Most days shift a handful of basis points; twenty is a lot.

Set Since to one day and a maturity closing 12bp higher prints +12; set it to a month and the same day can print −24.

Method

A rise here means bond prices fell; price and yield run opposite ways. The window you pick decides what counts as big, and a week and a quarter are not read alike.

Source

US Treasury · daily par yield curve · change computed here

Nominal Yields in detail

2 Oct 2026 · par yields, Treasury, around 3:30pm ET

Curve

tenors 1, 5, 21, 252 trading days; anchors 1, 7, 30, 365 calendar

Slope

long − short, in basis points

Curvature

2 × belly − wings, 50-50 weighted, not duration-neutral

Slope-neutral

the fly with 2s10s regressed out over five years

Carry, in money

cushion × DV01, in points per 100 face. Not a recommendation

Priced ahead

forward par yields off a discount curve bootstrapped here to 30.0y; the bp is the distance from today's par at the same maturity; each cell carries its desk code

Priced for today

what that day’s closes priced for today, off its own bootstrap; the miss is today’s close less the price

Zero rates

zero-coupon rates off the same bootstrap, against the par yield at the same maturity

State

Near-term forward

the 3m rate priced six quarters out, minus 3m today

Against financing

the yield minus SOFR, SOFR restated on a 365-day basis

This inversion

2s10s episodes of 20 sessions or more, since 2 Jan 1990

Volatility

realised standard deviation of daily changes, annualised

Held, not watched

a rolling 10Y par bond, coupon and price. Not a fund

Anchors

Spreads, butterflies, zero rates and forwards are derived here from the published yield curve. They are not published by any source. A dash means the value could not be computed or was too thin to rank, never zero.

Nominal Yields, drawn other ways

• Nominal Yields · Curve
• Nominal Yields · History
• Nominal Yields · Compare
• Nominal Yields · Moves
• Nominal Yields · Percentiles
• Nominal Yields · Rank
• Nominal Yields · Volatility
• Nominal Yields · Total Return
• Nominal Yields · Spread
• Nominal Yields · Butterfly
• Nominal Yields · Inversion
• Nominal Yields · Regime
• Nominal Yields · Phase
• Nominal Yields · Zero Curve
• Nominal Yields · Forwards
• Nominal Yields · Fitted Curve
• Nominal Yields · Policy Path
• Nominal Yields · SEP Dots
• Nominal Yields · Carry
• Nominal Yields · Forward History
• Nominal Yields · Attribution
• Nominal Yields · Recession Odds
• Nominal Yields · Level/Slope/Curvature
• Nominal Yields · Rich/Cheap
• Nominal Yields · Analogues

Rates

• Nominal Yields
• Real (TIPS)
• Breakeven Inflation
• Term Premium
• Expected Rate Path
• Treasury Bills

Pages

• US Treasury yield curve
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