Nominal Yields · History · 10Y 4.96% — Steepener

The read

Nominal · History · 11 Sep 2026

10Y 4.96%

on the month

+28bp

rank · 5y

99th

2s10s

+33bp

The record of one maturity, close by close. The Curve cuts across maturities; this cuts along time.

Nominal Yields 10Y from 13 Sep 2021 to 11 Sep 2026: 10Y currently 4.96%, between 1.28% and 4.98% 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 4.96%: 100th of 1y, 99th of 5y, 99th of 10y, 67th of since 1990. High is the government paying more to borrow for ten years.

Angles

• Curve · 3.93% at the 1M rising to a high of 5.38% at the 20Y
• Change · +28bp on the month, most at the 3Y (+44bp)
• Volatility · 10Y moved +1bp today against a typical day of 4.4bp
• Percentiles · Against five years the 5Y is highest at 99 and the 3M lowest at 43

How to read this

What it is

The record of one maturity, close by close. The Curve cuts across maturities; this cuts along time.

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

11 Sep 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 Yields
• Breakeven Inflation
• Term Premium
• Expected Rate Path
• Treasury Bills

Pages

• US Treasury yield curve
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