Nominal Yields · History · 10Y 5.28% — Steepener

The read

Nominal · History · 2 Oct 2026

10Y 5.28%

on the month

+49bp

rank · 5y

99th

2s10s

+45bp

History is the complete record of closes a single maturity has printed, in the yield.

Nominal Yields 10Y from 4 Oct 2021 to 2 Oct 2026: 10Y currently 5.28%, between 1.35% and 5.29% over the window.

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

Rank

10Y 5.28%: 99th of 1y, 99th of 5y, 99th of 10y, 71st of since 1990. High is the government paying more to borrow for ten years.

Angles

• 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
• Change · +49bp on the month, most at the 5Y (+52bp) · on the month, in basis points; amber rose, blue fell
• 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
• Percentiles · Against five years the 5Y is highest at 99 and the 3M lowest at 43 · amber above the median of the window, blue below; a dashed cell has less record than its window

How to read this

What it is

History is the complete record of closes a single maturity has printed, in the yield. It reaches the earliest print there is, and a break in it marks a session nobody published, never a quiet one.

How to read the chart

Each point is a single close in percent, for the maturity on the button. It is the level itself, not a change or a rank.

Months of direction carry the meaning here; one print rarely does. Widen Show and a big day looks small.

Method

Nothing is carried across a day Treasury did not publish, so a break is a missing print. Issuance dates leave the left edge ragged. Rows before 1990 come from the Fed Board via FRED.

Source

US Treasury · NBER · daily par yield curve

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 · Compare
• Nominal Yields · Change
• 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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